Sec. 44.85.310. Default in payment; appointment of trustee.
If the bond bank authority defaults in the payment of principal or interest on an issue of notes or bonds after they become due, whether at maturity or upon call for redemption, and the default continues for 30 days, or if the bond bank authority fails or refuses to comply with this chapter or defaults […]
Sec. 44.85.320. Powers and duties of trustee on default.
(a) A trustee appointed under AS 44.85.310 may, and shall in the trustee’s name, upon written request of the holders of 25 percent in principal amount of the outstanding notes or bonds, (1) by civil action enforce all rights of the noteholders or bondholders, including the right to require the bond bank authority to collect […]
Sec. 44.85.330. Personal liability.
Neither a member of the bond bank authority nor a person executing bonds or notes issued under this chapter is liable personally on the bonds or notes.
Sec. 44.85.340. Exemption from execution and sale.
All property of the bond bank authority is exempt from levy and sale by virtue of an execution and no execution or other judicial process may issue against the property. A judgment against the bond bank authority may not be a charge or lien upon its property; however, nothing in this section applies to or […]
Sec. 44.85.350. Lien of pledge.
A pledge of revenues or other money made by the bond bank authority is binding from the time the pledge is made. Revenues or other money so pledged and thereafter received by the bond bank authority are immediately subject to the lien of the pledge without any further act, and the lien of a pledge […]
Sec. 44.85.360. Insurance or guaranty.
The bond bank authority may obtain from a department or agency of the United States, or a nongovernmental insurer available insurance or guaranty for the payment or repayment of interest or principal, or both, or any part of interest or principal, on bonds or notes issued by the bond bank authority, or on municipal bonds […]
Sec. 44.85.080. Powers of bond bank authority.
The bond bank authority may (1) sue and be sued; (2) adopt and alter an official seal; (3) make and enforce bylaws and regulations for the conduct of its business and for the use of its services and facilities; (4) maintain an office at any place in the state; (5) acquire, hold, use, and dispose […]
Sec. 44.85.210. Payment or refunding of notes.
The bond bank authority may from time to time issue its notes under this chapter and pay and retire or fund or refund the notes from proceeds of bonds or of other notes, or from other funds or money of the bond bank authority available for that purpose in accordance with a contract between the […]
Sec. 44.85.085. Creation of subsidiary corporation.
(a) The bond bank authority may create one or more subsidiary corporations for the following purposes: (1) providing financial and other assistance to governmental employers to enable the governmental employers to reduce their costs of providing retirement and other benefits to their employees by prepaying all or a portion of their shares of the unfunded […]
Sec. 44.85.086. Powers of subsidiary corporation.
A subsidiary corporation created under AS 44.85.085 has the following powers in addition to those granted to it under AS 44.85.085(c): (1) to make loans to and enter into contracts with governmental employers; (2) to incur debt, subject to AS 37.15.903, in furtherance of its purposes, in the form of bonds, notes, commercial paper, or […]