Alaska Statutes 29.47.080 – Bond anticipation borrowing

A municipality may borrow money in anticipation of the sale of general obligation and revenue bonds if

(1) the general obligation bonds to be sold have been authorized by ordinance and ratified by a majority vote at an election;

municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

(2) the revenue bonds to be sold have been authorized by ordinance.