Sec. 44.88.900. Definitions.
In this chapter, (1) “Arctic” means the area of the state north of the Arctic Circle, north and west of the boundary formed by the Porcupine, Yukon, and Kuskokwim Rivers, all contiguous seas, including the Arctic Ocean, and the Beaufort, Bering, and Chukchi Seas, and the Aleutian Chain; (2) “Arctic infrastructure development” means (A) the […]
Sec. 44.88.660. Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund.
The Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund is established in the authority. The development fund consists of appropriations made to the development fund by the legislature, money or other assets transferred to the development fund by a vote of the members of the authority under AS 44.88.050 from […]
Sec. 44.88.820. Use of fund balance.
Subject to the requirements of AS 44.88.800 – 44.88.840, the authority may use money in the Arctic infrastructure development fund (AS 44.88.810) for Arctic infrastructure development.
Sec. 44.88.670. Use of fund balance.
Subject to the requirements of AS 44.88.650 – 44.88.690, the authority may use money in the Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund (AS 44.88.660) to assist in the construction, improvement, rehabilitation, and expansion of qualified energy development.
Sec. 44.88.830. Qualified infrastructure development; powers and duties of the authority.
(a) Subject to the limitations of AS 44.88.840, for Arctic infrastructure development, the authority may (1) use the Arctic infrastructure development fund (AS 44.88.810) to finance Arctic infrastructure development, insure project obligations, guarantee loans or bonds, and establish reserves; (2) acquire real or personal property by purchase, transfer, or foreclosure when the acquisition is necessary […]
Sec. 44.88.680. Qualified energy development; powers and duties of the authority.
(a) Subject to the limitations of AS 44.88.690, for qualified energy development, the authority may (1) use the Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund (AS 44.88.660) to finance qualified energy development, insure project obligations, guarantee loans or bonds, and establish reserves; (2) acquire real or personal property by […]
Sec. 44.88.840. Limitations on financing.
(a) Unless the authority has obtained legislative approval by law, the authority may not use the Arctic infrastructure development fund established in AS 44.88.810 to make (1) a loan for more than one-third of the capital cost of an Arctic infrastructure development; or (2) a loan guarantee if the amount of the guarantee exceeds $20,000,000. […]
Sec. 44.88.690. Limitations on financing; use as security.
(a) Unless the authority has obtained legislative approval by law, the authority may not use the Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund established in AS 44.88.660 to (1) make a loan for more than one-third of the capital cost of qualified energy development; (2) make a loan guarantee […]
Sec. 44.88.700. New markets tax credit assistance guarantees and loans.
(a) Subject to the requirements of AS 44.88.700 – 44.88.799, the authority may (1) guarantee new markets tax credit assistance leveraged loans; and (2) make new markets tax credit assistance leveraged loans. (b) New markets tax credit assistance guarantees and loans are limited to projects in the state for which new markets tax credits are […]
Sec. 44.88.710. Effect of guarantee.
(a) A guarantee under AS 44.88.700 – 44.88.799 does not create a debt or liability of the state. (b) A guarantee under AS 44.88.700(a)(1) may not be terminated, cancelled, or revoked except under its terms. A guarantee held by a participating financial institution is presumed to be valid.