Alaska § 44.85.240 - Bond anticipation notes.
Full text of Alaska Alaska Statutes § 44.85.240 — Bond anticipation notes., with citation guidance and answers to common questions.
§ 44.85.240. Bond anticipation notes.
Notwithstanding any law applicable to a municipality as to the period for temporary financing of a public improvement or purpose by issuance of its notes in anticipation of the issuance of permanent bonds or as to the renewal of bond anticipation notes, the bond bank authority may purchase and the municipality may issue bond anticipation notes and may renew them from time to time; however, the bond anticipation notes, including renewals, shall mature in such amounts and in such years not exceeding five years from the date of the original issuance as is agreed between the bond bank authority and the municipality. In connection with the transaction and purchase of bond anticipation notes, the bond bank authority may by agreement with the municipality impose any terms, conditions, and limitations as in its opinion are proper for the purposes and security of the bond bank authority and the holders of its bonds or notes. The failure of a municipality to comply with the agreement constitutes a failure of the municipality to pay principal of and interest on the bonds or notes, and the bond bank authority shall enforce all rights, remedies, and provisions of law as it has under this chapter or are elsewhere provided.
Frequently Asked Questions About Alaska § 44.85.240
What does Alaska Statutes § 44.85.240 cover?
Section 44.85.240 ("Bond anticipation notes.") 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 § 44.85.240?
A common citation format is "Alaska Statutes § 44.85.240" (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 § 44.85.240 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.