Alaska § 37.15.225 - Bond authorization.
Full text of Alaska Alaska Statutes § 37.15.225 — Bond authorization., with citation guidance and answers to common questions.
§ 37.15.225. Bond authorization.
(a) For purposes of financing a portion of the costs of the Knik Arm bridge and appurtenant facilities or other toll bridges as the legislature may designate, including the costs of bond issuance, the issuance and sale of bonds of the state by the committee is authorized as provided in AS 37.15.225 — 37.15.290. The net proceeds of the sale of the bonds remaining after payment of costs of issuance, capitalized interest, if any, and making deposits to the bond reserve fund under AS 37.15.260 , shall be transferred to the Knik Arm construction fund established in AS 37.15.230 or may be held by a trustee to be disbursed to pay the costs of a toll bridge under the terms and conditions set out in a trust agreement. Accrued interest paid on the bonds shall be paid into the bond redemption fund.
(b) Prior to the issuance of bonds authorized under (a) of this section, the committee shall send notice of the issuance to the legislature.
(c) The total unpaid principal amount of bonds, including refunding bonds, but excluding refunded bonds, is limited as provided in AS 37.15.235 . The bonds do not constitute a general obligation of the state. Authorization by the voters of the state or the legislature is not required.
(d) The committee may enter into agreements with other state agencies as necessary or convenient to implement AS 37.15.225 — 37.15.290.
(e) The committee may contract for the services of underwriters, paying agents, trustees, bond printers, rating agencies, bond insurance, credit enhancement providers, accountants, financial advisors, and bond counsel, and other services as are necessary to accomplish the bond issuance and sale.
(f) The state may not issue bonds under (a) of this section for financing the Knik Arm bridge and appurtenant facilities until the Federal Highway Administration, United States Department of Transportation, has approved a loan to the state of at least 30 percent of the total project cost for construction of the Knik Arm bridge and appurtenant facilities under 23 U.S.C. 601 — 609 (Transportation Infrastructure Finance and Innovation Act of 1998).
Frequently Asked Questions About Alaska § 37.15.225
What does Alaska Statutes § 37.15.225 cover?
Section 37.15.225 ("Bond authorization.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 37.15.225?
A common citation format is "Alaska Statutes § 37.15.225" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 37.15.225 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.