Sec. 30.17.270. Bonds legal investments for fiduciaries.
The bonds of the authority are securities in which public officers and bodies of the state; municipalities and municipal subdivisions; insurance companies and associations and other persons carrying on an insurance business; banks, bankers, trust companies, savings banks, savings associations, including savings and loan associations and building and loan associations, investment companies, and other persons […]
Sec. 30.17.280. Enterprise development account.
(a) The enterprise development account is established in the authority. The enterprise development account is a trust fund for the uses and purposes of this chapter. The enterprise development account consists of money or assets appropriated or transferred to the authority and other money or assets deposited in it by the authority. (b) The authority […]
Sec. 30.17.250. Pledge of the state.
The state pledges to and agrees with the holders of bonds issued under this chapter and with the federal agency that loans or contributes funds in respect to a project, that the state will not limit or alter the rights and powers vested in the authority by this chapter to fulfill the terms of a […]
Sec. 30.17.260. Exemption from taxation.
(a) The real and personal property of the authority and its assets, income, and receipts are declared to be the property of a political subdivision of the state and are exempt from taxes and special assessments of the state or a political subdivision of the state. Bonds of the authority are declared to be issued […]
Sec. 30.17.200. Consideration of projects to be financed.
(a) Before issuing bonds for a project under this chapter, the authority must find, on the basis of all information reasonably available to it, that the (1) project and its development under this chapter will be economically advantageous to the state and the general public welfare and will contribute to the economic growth of the […]
Sec. 30.17.210. Bonds of the authority.
(a) Subject to the provisions of AS 30.17.200, the authority may borrow money and may issue revenue bonds, including bonds on which the principal and interest are payable (1) exclusively from the income and receipts or other money derived from the project financed with the proceeds of the bonds; (2) exclusively from the income and […]
Sec. 30.17.220. Trust indentures and trust agreements.
In the discretion of the authority, an issue of bonds may be secured by a trust indenture or trust agreement between the authority and a corporate trustee, which may be a trust company, bank, or national banking association, with corporate trust powers, located inside or outside the state, or by a secured loan agreement or […]
Sec. 30.17.230. Validity of pledge.
(a) It is the intent of the legislature that a pledge made in respect of bonds issued under this chapter is perfected, valid, and binding from the time the pledge is made; that the money or property so pledged and thereafter received by the authority is immediately subject to the lien of the pledge without […]
Sec. 30.17.240. Nonliability on bonds.
(a) Neither the members of the authority nor a person executing the bonds are liable personally on the bonds issued by the authority or are subject to personal liability or accountability by reason of the issuance of the bonds. (b) The bonds issued by the authority do not constitute an indebtedness or other liability of […]