15 AAC 144.090. Definitions

In this chapter

(1) "authority" means the Alaska Municipal Bond Bank Authority created by AS 44.85;

(2) "executive director" means the executive secretary for the authority appointed under AS 44.85.070 ;

(3) "creditworthy" means that, in the opinion of the authority, the current financial position of a municipality is such that the municipality will be able to service its authorized and outstanding municipal bonds without expectation of subsidy from state money not currently available under state law and without imposing financial burdens upon its residents that would create the expectation that its ability to service its municipal bonds in the future will be impaired, and that there is no other reason to expect that in the future the municipality will not be able to meet its debt service obligations as they become due;

(4) "municipal bond" means municipal bond as that term is defined in AS 44.85.410 ;

(5) "facilities" means capital improvements, including both real and personal property.

History: Eff. 4/1/76, Register 58; am 10/19/94, Register 132

Authority: AS 44.85.010

AS 44.85.080

AS 44.85.095

AS 44.85.410

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