Alaska § 42.40.630 - Payment of bonds.
Full text of Alaska Alaska Statutes § 42.40.630 — Payment of bonds., with citation guidance and answers to common questions.
§ 42.40.630. Payment of bonds.
(a) The principal and interest on bonds of the corporation is payable from corporation money or assets. Bonds may be additionally secured by a pledge of a grant or contribution from the federal or state government, a municipality, a corporation, an association, an institution, or a person, or a pledge of money, income, or revenue of the corporation from any source.
(b) [Repealed, § 13 ch 64 SLA 2018.] (c) Before issuing bonds to provide the financing described in AS 42.40.570 for real or personal property to be owned in whole or in part by an entity other than the corporation, the corporation shall enter into one or more contracts, leases, or other forms of agreement that will, in the judgment of the corporation, provide sufficient consideration to (1) pay the principal of and interest on the bonds as they become due;
(2) create and maintain any reserves for the bond payments that the corporation considers necessary or desirable; and
(3) pay all costs necessary to issue, service, or additionally secure the bonds, including trustee's fees and bond insurance premiums, unless these costs are to be paid from bond proceeds or by a party other than the corporation.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 42.40.630
What does Alaska Statutes § 42.40.630 cover?
Section 42.40.630 ("Payment of bonds.") 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 § 42.40.630?
A common citation format is "Alaska Statutes § 42.40.630" (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 § 42.40.630 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.