(a) The Southeast energy fund is established as a separate fund. The fund consists of

Terms Used In Alaska Statutes 42.45.040

  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • authority: means the Alaska Energy Authority. See Alaska Statutes 42.45.990
  • Fiduciary: A trustee, executor, or administrator.
  • 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
  • power: includes electrical energy generated, distributed, bought, or sold for lighting, heating, power, and every other useful purpose. See Alaska Statutes 42.45.990
  • project: means a plant, works, system, or facility, together with related or necessary facilities and appurtenances, including a divided or undivided interest in or a right to the capacity of a power project or project, that is used or is useful for the purpose of
    (A) electrical or thermal energy production. See Alaska Statutes 42.45.990
  • 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
(1) money appropriated to the fund by the legislature;
(2) money transferred to it under former Alaska Stat. § 42.45.050;
(3) gifts, bequests, contributions from other sources, and federal money;
(4) interest earned on the fund balance; and
(5) investments, to be managed by the Department of Revenue, which shall be the fiduciary of the fund under Alaska Stat. § 37.10.071.
(b) The fund is not a dedicated fund.
(c) The authority may make grants from the Southeast energy fund to a municipality of the state, a joint action agency established under Alaska Stat. § 42.45.300 and 42.45.310, a member-owned electric cooperative established under Alaska Stat. Chapter 10.25, or another electric utility holding a certificate of public convenience and necessity under Alaska Stat. Chapter 42.05 for power projects, repayment of loans, and payments on bonds for hydroelectric projects and electrical transmission lines or interties serving Southeast Alaska that are entirely owned by the grantee.
(d) An appropriation from the fund for a project described in (c) of this section lapses back into the fund if substantial, ongoing work on the project has not begun within seven years after the effective date of the appropriation.
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