(a) Unless the authority has obtained legislative approval by law, the authority may not use the Arctic infrastructure development fund established in Alaska Stat. § 44.88.810 to make
Terms Used In Alaska Statutes 44.88.840
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) a loan for more than one-third of the capital cost of an Arctic infrastructure development; or(2) a loan guarantee if the amount of the guarantee exceeds $20,000,000.(b) Financing under Alaska Stat. § 44.88.830 is limited to the projected life of the Arctic infrastructure development, which may not be more than 40 years.(c) Notwithstanding (a) of this section, the authority may use the Arctic infrastructure development fund established in Alaska Stat. § 44.88.810 as security for a bond guarantee.(d) The authority may guarantee a loan under Alaska Stat. § 44.88.830 if the loan is made to a business with a majority interest held by state residents.
