Sec. 44.88.088. Payment of dividend to state.
(a) The authority shall adopt a policy for payment of a dividend from the revolving fund, the Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund ( AS 44.88.660), and the Arctic infrastructure development fund ( AS 44.88.810) to the state each fiscal year. The dividends for a fiscal year shall […]
Sec. 44.88.090. Bonds of the authority.
(a) The authority may borrow money and may issue bonds, including but not limited to bonds on which the principal and interest are payable (1) exclusively from the income and receipts or other money derived from the project or development project financed with the proceeds of the bonds or derived from the exporter or exporting […]
Sec. 44.88.095. Bonding limitations.
(a) The authority may not issue bonds in a 12-month period in an amount that exceeds $400,000,000, excluding refunding bonds. (b) [Repealed, § 24 ch 123 SLA 1990.] (c) Before entering into a lease or other agreement under AS 44.88.090(e) regarding a project for which the authority agrees to issue bonds in an amount in […]
Sec. 44.88.100. 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. 44.88.105. Capital reserve funds and capital reserve fund requirement.
(a) For the purpose of securing one or more issues of its bonds, the authority may establish one or more special funds, called “capital reserve funds”, and shall pay into those capital reserve funds the proceeds of the sale of its bonds and other money which may be made available to the authority from other […]
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. 44.85.260. Presumption of validity.
After issuance, all bonds or notes of the bond bank authority shall be conclusively presumed to be fully authorized and issued under the laws of the state, and a person or a municipality is estopped from questioning their authorization, sale, issuance, execution, or delivery by the bond bank authority.
Sec. 44.85.270. Reserve fund.
(a) The bond bank authority shall establish and maintain a special fund called the “Alaska municipal bond bank authority 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 […]
Sec. 44.85.280. Additional funds and accounts.
The bond bank authority may establish additional reserves or other funds or accounts as may be, in its discretion, necessary, desirable, or convenient to further the accomplishment of its purposes or to comply with the provisions of any of its agreements or resolutions.
Sec. 44.85.290. Application of funds.
Money or investments in a fund or account of the bond bank authority established or held for bonds, notes, indebtedness, or liability to be paid, funded, or refunded by issuance of bonds or notes, unless the resolution authorizing the bonds or notes provides otherwise, shall be applied to the payment or retirement of the bonds, […]