Before a municipality may enter into a written contract with a record owner of property to impose an assessment to repay the financing of an energy or resilience improvement project under Alaska Stat. § 29.55.100, the property owner shall

(1) give each holder of a mortgage lien on the property at least 30 days’ written notice of the intention of the property owner to participate in a program under Alaska Stat. § 29.55.100; and
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Terms Used In Alaska Statutes 29.55.115

  • Contract: A legal written agreement that becomes binding when signed.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • 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
  • property: includes real and personal property. See Alaska Statutes 01.10.060
(2) obtain written consent from each holder of a mortgage lien on the property.
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