(a) For purposes of providing part of the money to be used to provide financial assistance to municipalities and other qualified entities under Alaska Stat. § 46.03.032 and 46.03.036, including the costs of bond issuance and administration, the issuance and sale of revenue bonds of the state is authorized subject to (b) of this section. The bonds are to be issued by the state bond committee, as provided in Alaska Stat. § 37.15.560 – 37.15.605, as part of the Alaska clean water fund and the Alaska drinking water fund revolving loan fund programs (Alaska Stat. § 46.03.032 and 46.03.036), public enterprises of the state. The net proceeds of the sale of the bonds remaining after any payment of costs of issuance and administration shall be paid into the Alaska clean water fund or the Alaska drinking water fund, as appropriate. Accrued interest paid on the bonds shall be paid into the Alaska clean water fund or the Alaska drinking water fund for transfer to the Alaska clean water fund revenue bond redemption fund or the Alaska drinking water fund revenue bond redemption fund (Alaska Stat. § 37.15.565), as appropriate.
Terms Used In Alaska Statutes 37.15.560
Contract: A legal written agreement that becomes binding when signed.
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
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.
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) The state bond committee may not issue more than $15,000,000 in revenue bonds under Alaska Stat. § 37.15.560 – 37.15.605 during a fiscal year for each revolving loan fund program referred to in (a) of this section, excluding refunding bonds. The total unpaid principal amount of revenue bonds, including refunding bonds, but excluding refunded bonds, issued under Alaska Stat. § 37.15.560 – 37.15.605 may not exceed $150,000,000 for each program.(c) The bonds do not constitute a general obligation of the state. Authorization by the voters of the state or the legislature is not required.(d) The state bond committee may enter into agreements with other state agencies as necessary or convenient to implement Alaska Stat. § 37.15.560 – 37.15.605.(e) The state bond committee may contract for the services of underwriters, paying agents, trustees, bond printers, rating agencies, bond insurance, credit enhancement providers, accountants, financial advisors, and bond counsel, and other services as are necessary to accomplish the bond issuance and sale.
