Sec. 44.88.110. Validity of pledge.
It is the intention of the legislature that a pledge made in respect of bonds shall be valid and binding from the time the pledge is made; that the money or property so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without physical delivery or further […]
Sec. 44.85.420. Short title.
This chapter may be cited as the Alaska Municipal Bond Bank Authority Act or the Alaska Municipal Bond Bank Act. In transactions involving general obligation bonds of municipalities, the Alaska Municipal Bond Bank Authority created by this chapter may be referred to as the Alaska Municipal Bond Bank with the same legal effect as if […]
Sec. 44.88.120. Nonliability on bonds.
(a) Neither the members of the authority nor a person executing the bonds are liable personally on the bonds 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 the state or of […]
Sec. 44.88.010. Legislative finding and policy.
(a) The legislature finds, determines, and declares that (1) there exist areas of the state in which seasonal and nonseasonal unemployment exists; (2) this unemployment is a serious menace to the health, safety, and general welfare, not only to the people in those areas, but also to the people of the entire state; (3) the […]
Sec. 44.88.130. 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 lends or contributes funds in respect to a project or development project financed under AS 44.88.155 – 44.88.159 or 44.88.172 – 44.88.177 that the state will not limit or alter the rights and powers […]
Sec. 44.88.020. Creation of authority.
There is created the Alaska Industrial Development and Export Authority. The authority is a public corporation of the state and a body corporate and politic constituting a political subdivision within the Department of Commerce, Community, and Economic Development, but with separate and independent legal existence.
Sec. 44.88.140. Exemption from taxation.
(a) Except as provided in AS 29.45.030(a)(1), 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, together with any project or development project financed under AS 44.88.155 – 44.88.159 or 44.88.172 – 44.88.177, and a leasehold […]
Sec. 44.88.030. Membership of authority.
(a) The membership of the authority consists of (1) the commissioner of revenue and the commissioner of commerce, community, and economic development; and (2) five public members appointed by the governor, each of whom has expertise in private sector business or industry, or both, and possesses demonstrated leadership skills. (b) If a commissioner described in […]
Sec. 44.88.150. Bonds legal investments for fiduciaries.
The bonds of the authority are securities in which all public officers and bodies of the state and all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks, savings associations, including savings and loan associations and building and loan associations, […]
Sec. 44.88.040. Chairman and vice-chairman.
The members of the authority shall elect a chairman from among themselves. A vice-chairman may be elected by the authority from among its other members. The vice-chairman presides over all meetings in the absence of the chairman and has other duties which the authority may direct.