Sec. 44.85.090. Limitations.
Under this chapter, the bond bank authority may not (1) make loans of money to a person, firm, or corporation except as provided in this chapter; (2) emit bills of credit, accept deposits of money for time or demand deposit, administer trusts, or engage in any form or manner in, or in the conduct of, […]
Sec. 44.85.095. Regulations.
The bond bank authority shall adopt regulations, in accordance with AS 44.62 (Administrative Procedure Act), to implement this chapter.
Sec. 44.85.100. Annual report and audit.
(a) Before October 1 of each year the bond bank authority shall make a report of its activities for the preceding fiscal year to the governor and notify the legislature that the report is available. The report shall set out a complete operating and financial statement covering its operations during the year. The bond bank […]
Sec. 44.85.110. Annual budget.
The bond bank authority shall prepare and submit an annual budget under AS 37.07 (Executive Budget Act).
Sec. 44.85.120. Care and custody of bonds.
The bond bank authority, in accordance with AS 36.30 (State Procurement Code), may enter into agreements or contracts with a bank, trust company, banking or financial institution inside or outside the state as may be necessary, desirable, or convenient, in the opinion of the bond bank authority, for rendering services in connection with the care, […]
Sec. 44.85.130. Effect of obligations.
(a) Bonds and notes issued under this chapter are not a debt or liability of the state and do not create or constitute an indebtedness, liability, or obligation of the state, nor do they constitute a pledge of the faith and credit of the state. All bonds and notes issued under this chapter, unless funded […]
Sec. 44.83.386. Investment of fund.
The authority shall invest the money in the fund in the manner provided in AS 37.10.070, 37.10.071, and 37.10.075. The authority may withdraw money from the fund only after costs have been incurred or amounts in the fund have been otherwise obligated under contracts for the acquisition and construction of a project.
Sec. 44.85.010. Legislative policy.
(a) It is the policy of the state to (1) foster and promote by all reasonable means the provision of adequate capital markets and facilities for borrowing money by municipalities in the state to finance capital improvements or for other authorized purposes, to assist these municipalities in fulfilling their capital needs and requirements by use […]
Sec. 44.83.388. Allotment to projects.
(a) The authority shall maintain records of power project allocations from the fund for each power project (1) approved in accordance with former AS 44.83.185; and (2) for which an allocation is made from an appropriation made by the legislature without specifying an appropriation to a project. (b) Income earned from investment of money appropriated […]
Sec. 44.85.020. Municipal Bond Bank Authority.
There is created the Alaska Municipal Bond Bank Authority. The authority is a public corporation of the state. The corporation is an instrumentality of the state within the Department of Revenue but has a legal existence independent of and separate from the state and has continuing succession until its existence is terminated by law. The […]