Sec. 29.47.130. Limitation.
The total amount of notes issued and outstanding may at no time exceed the total amount of bonds authorized to be issued.
Sec. 29.47.140. Use of proceeds.
The proceeds from the sale of notes shall be used only for the purposes for which the proceeds from the sale of bonds may be used, or to meet payment of outstanding bond anticipation notes.
Sec. 29.47.180. General obligation bonds.
A municipality may acquire, construct, improve, and equip capital improvements and issue negotiable or nonnegotiable general obligation bonds for these purposes.
Sec. 29.47.190. Vote and notice of existing indebtedness required.
(a) A municipality may incur general obligation bond debt only after a bond authorization ordinance is approved by a majority vote at an election. Any municipal voter may vote in the bond election, except as otherwise provided by law. (b) Before a general obligation bond issue election, the governing body shall have published a notice […]
Sec. 29.47.200. Payment.
(a) The full faith and credit of a municipality are pledged for the payment of principal and interest on general obligation bonds. The municipality may levy ad valorem taxes for payment without limitation of rate or amount to pay or secure the payment of the principal and interest on bonds, regardless of whether the bonds […]
Sec. 29.47.240. Revenue bonds.
(a) A municipality may issue negotiable or nonnegotiable revenue bonds for a public enterprise or public corporation of the municipality where the only security is the revenue of the public enterprise or corporation. (b) A municipality may issue its revenue bonds to finance the purchase of residential mortgage loans. The revenue bonds issued under this […]
Sec. 29.47.250. No election required.
An election is not required to authorize the issuance and sale of revenue bonds, unless otherwise provided by ordinance.
Sec. 29.47.260. Applicability of AS 37.10.085.
The prohibitions of AS 37.10.085 do not apply to the issuance of revenue bonds or the use of proceeds from revenue bonds by a home rule or general law municipality.
Sec. 29.47.300. Authorization.
If a municipality has outstanding general obligation or revenue bonds and the governing body determines that it would be financially advantageous to refund the bonds, the municipality may provide by ordinance or resolution for the issuance of negotiable or nonnegotiable (1) general obligation refunding bonds; or (2) revenue refunding bonds.
Sec. 29.47.010. Borrowing in anticipation of revenue.
A municipality that is authorized to incur indebtedness may borrow money to meet appropriations for any fiscal year in anticipation of the collection of the revenues for that year, but all debt so contracted shall be paid before the end of the next fiscal year. Negotiable or nonnegotiable revenue anticipation notes may be issued as […]