Alaska § 37.15.245 - Toll bridge revenue bond redemption fund.
Full text of Alaska Alaska Statutes § 37.15.245 — Toll bridge revenue bond redemption fund., with citation guidance and answers to common questions.
§ 37.15.245. Toll bridge revenue bond redemption fund.
(a) The toll bridge revenue bond redemption fund is established as a special fund of the state. The bond redemption fund is a trust fund for paying and securing the payment of the principal of and interest and redemption premium, if any, on the bonds and shall be at all times completely segregated and set apart from all other funds of the state. The bond redemption fund shall be drawn on only for the purpose of paying the principal of and interest and redemption premium, if any, on the bonds, together with related trustee fees, if any.
(b) Money in the bond redemption fund may be invested in the same manner and on the same conditions as permitted for investment of money belonging to the state or held in the treasury under AS 37.10.070 ; however, the committee may agree with the bondholders to further limit these investments. Earnings on investments must be retained in the bond redemption fund or a designated account in the bond redemption fund.
(c) All references to the bond redemption fund in this section include special accounts in the bond redemption fund that may be created by resolution or first agreement to secure the payment of particular bonds.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 37.15.245
What does Alaska Statutes § 37.15.245 cover?
Section 37.15.245 ("Toll bridge revenue bond redemption fund.") 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 § 37.15.245?
A common citation format is "Alaska Statutes § 37.15.245" (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 § 37.15.245 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.