Sec. 37.16.010. Alaska Pension Obligation Bond Corporation.
There is established the Alaska Pension Obligation Bond Corporation. The corporation is a public corporation and government instrumentality in the Department of Revenue managed by a board of directors. The purpose of the corporation is to finance prepayment of all or a portion of a governmental employer’s share of unfunded accrued actuarial liability of retirement […]
Sec. 37.16.020. Board of directors.
The directors of the corporation are the commissioner of commerce, community, and economic development, the commissioner of administration, and the commissioner of revenue. If a director is absent or otherwise unable to act, the director’s designee in the department shall act as a director of the corporation in the director’s place.
Sec. 37.16.030. Bond authorization.
(a) For purposes of financing prepayment of all or a portion of a governmental employer’s share of unfunded accrued actuarial liability of retirement systems, including the costs of issuance and administration, the issuance and sale of bonds by the corporation is authorized as provided in this section and AS 37.16.040 – 37.16.900, but only after […]
Sec. 37.16.040. Reserve fund.
(a) The corporation may establish and maintain a special fund called the Alaska Pension Obligation Bond Corporation reserve fund in which there shall be deposited or transferred (1) all money appropriated by the legislature for the purpose of the fund in accordance with the provisions of (g) of this section; (2) all proceeds of bonds […]