Sec. 31.25.110. Alaska liquefied natural gas project fund.
The Alaska liquefied natural gas project fund is established in the corporation and consists of money appropriated to it. The corporation shall determine fund management and may contract with the Department of Revenue for fund management. If money is appropriated to the fund to finance the cost of an Alaska liquefied natural gas project, the […]
Sec. 31.25.120. Creation of subsidiaries.
The corporation may create subsidiary corporations for the purpose of developing, constructing, operating, and financing in-state natural gas pipeline projects or other transportation mechanisms; for the purpose of aiding in the development, construction, operation, and financing of in-state natural gas pipeline projects; or for the purpose of acquiring natural gas from the North Slope, and […]
Sec. 31.25.130. Administrative procedure; regulations.
(a) Except for AS 44.62.310 – 44.62.319 (Open Meetings Act), AS 44.62 (Administrative Procedure Act) does not apply to this chapter. The corporation shall make available to members of the public copies of the regulations adopted under (b) – (e) of this section. (b) The board may adopt regulations by motion or by resolution or […]
Sec. 31.25.140. Exemption from the State Procurement Code; application of the Executive Budget Act; corporation finances.
(a) The corporation and its subsidiaries are exempt from the provisions of AS 36.30 (State Procurement Code). (b) The operating budget of the corporation and a subsidiary of the corporation are subject to AS 37.07 (Executive Budget Act). (c) To further ensure effective budgetary decision making by the legislature, the board shall (1) annually review […]
Sec. 31.25.160. Bonds and notes.
(a) The corporation may, by resolution, issue bonds and bond anticipation notes to provide funds to carry out its purposes. (b) The principal of and interest on the bonds or notes are payable from corporation funds. Bond anticipation notes may be payable from the proceeds of the sale of bonds or from the proceeds of […]
Sec. 31.25.170. Independent financial advisor.
In negotiating the sale of bonds or bond anticipation notes to an underwriter, the corporation may retain a financial advisor. A financial advisor retained under this section must be independent from the underwriter.
Sec. 31.25.180. Validity of pledge.
The pledge of assets or revenue of the corporation to the payment of the principal of or interest on an obligation of the corporation is valid and binding from the time the pledge is made, and the assets or revenue are immediately subject to the lien of the pledge without physical delivery or further act. […]
Sec. 31.25.190. Capital reserve funds.
(a) The corporation may not establish a capital reserve fund as described in this section except as expressly authorized by law. The enactment of this section does not express that authorization. Upon enactment of a law expressly authorizing the establishment of a capital reserve fund described in this section and for the purpose of securing […]
Sec. 31.25.200. Remedies.
A holder of obligations or coupons attached to them issued under this chapter, and a trustee under a trust agreement or resolution authorizing the issuance of the obligations, except as restricted by a trust agreement or resolution, either at law or in equity, (1) may enforce all rights granted under this chapter, under the trust […]
Sec. 31.25.210. Negotiable instruments.
All obligations and interest coupons attached to them are negotiable instruments under the laws of this state, subject only to applicable provisions for registration.