Sec. 44.85.050. Bonding of members.
Before the issuance of bonds or notes under this chapter, each director shall execute a surety bond in the penal sum of $25,000 and the treasurer shall execute a surety bond in the penal sum of $50,000. Each surety bond shall be conditioned upon the faithful performance of the duties of the office of the […]
Sec. 44.85.180. Issuance of bonds and notes.
(a) Subject to AS 44.85.100(b), the bond bank authority may issue its bonds or notes in principal amounts that it considers necessary to provide funds for any purposes under this chapter, including (1) the purchase of municipal bonds; (2) the making of loans through the purchase of municipal bonds, notes, or certificates of participation secured […]
Sec. 44.85.060. Compensation and expenses.
The directors of the bond bank authority shall serve without compensation, but the bond bank authority shall reimburse its directors for actual expenses necessarily incurred in the discharge of their duties. Notwithstanding any other law, an officer or employee of the state need not forfeit office or employment or any benefits by reason of acceptance […]
Sec. 44.85.190. Form of issuance.
Bonds or notes of the bond bank authority shall be authorized by resolution of the bond bank authority and may be issued in one or more series and shall bear the date, mature at the time, bear interest at the rate of interest each year or within a maximum rate, be in the denomination, be […]
Sec. 44.85.070. Staff.
The bond bank authority shall employ an executive secretary who may with the approval of the bond bank authority select and employ additional staff as necessary. Employees and agents of the bond bank authority other than legal counsel and the executive secretary are in the classified service under AS 39.25. In addition to its staff […]
Sec. 44.85.200. Sale price.
Bonds or notes of the bond bank authority may be sold at public or private sale at the price the bond bank authority determines.
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 […]