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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 40. The University of Alaska, the Community Colleges, and the Alaska Aerospace Development Corporation
- Section 891. Issuance of Bonds, Notes, and Refunding Bonds.
previous: Section 890
. Funding. [Repealed, Sec. 22 Ch 136 SLA 1974].
next: Section 896
. Security For Bonds.
AS 14.40.891. Issuance of Bonds, Notes, and Refunding Bonds.
- (a) Except as provided in (b) of this section, the corporation may issue bonds in its discretion for any of its corporate
purposes and may issue refunding bonds for the purpose of paying or retiring bonds previously issued by it.
- (b) The corporation may not, without prior legislative approval, issue bonds, other than refunding bonds,
- (1) in a total amount in excess of $1,000,000 each calendar year; or
- (2) if the annual debt service on all outstanding bonds issued and proposed to be issued exceeds $1,000,000 in a fiscal
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