15 AAC 118.080. Supervision of proceeds of bond issue

As long as there are outstanding bonds under a bond issue, the authority may require the applicant to

(1) have made an annual audit or examination of its books and records by an independent firm of certified public accountants to determine whether the provisions of the bond issue have been complied with, and applicant must pay the cost of this audit or examination;

(2) permit the authority or its agents access to its books and records at any reasonable time; and

(3) submit, on written request from the authority, a sworn-to, detailed statement by an officer of the applicant stating the purposes to which bond proceeds have been applied.

History: Eff. 9/28/79, Register 71

Authority: AS 18.26.050 (4)

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