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Alaska Statutes.

Title 29. Municipal Government

Chapter 47. Municipal Debt

Section 10. Borrowing in Anticipation of Revenue.

AS 29.47.010. Borrowing in Anticipation of Revenue.

A municipality that is authorized to incur indebtedness may borrow money to meet appropriations for any fiscal year in anticipation of the collection of the revenues for that year, but all debt so contracted shall be paid before the end of the next fiscal year. Negotiable or nonnegotiable revenue anticipation notes may be issued as evidence of the borrowing.

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Last modified 9/3/2005