Alaska Statutes Title 37, Chapter 37.15, Article 01 - State Bonding Act

• Sec. 37.15.010 Full Faith and Credit for General Obligation Bonds.
  The full faith, credit, and resources of the state are hereby pledged to the payment of the principal of and interest and redemption premium,...
• Sec. 37.15.011 Alaska Debt Retirement Fund.
  (a) The Alaska debt retirement fund is established as a separate fund in the general fund. The fund consists of all money appropriated to...
• Sec. 37.15.012 Continuing Debt Service Appropriation.
  The amounts required annually to pay the principal, interest, and redemption premium on all issued and outstanding general obligation bonds of the state are...
• Sec. 37.15.015 Notice Before Election.
  (a) Before a general or special election in which a bond issue is offered for ratification, the state bond committee shall publish a notice...
• Sec. 37.15.020 Manner and Amounts of Sale.
  The state bond committee shall sell the bonds of each authorization in the amounts or series and at the times which it finds are...
• Sec. 37.15.030 Interest Rate and Maturity.
  Each issue or series of bonds must bear interest at an effective rate over the life of the bonds not to exceed 11 percent...
• Sec. 37.15.040 Sale of Bonds.
  Before selling an issue or series of bonds, the state bond committee shall give notice inviting sealed bids in a manner that it may...
• Sec. 37.15.050 Redemption.
  The state bond committee may determine whether the bonds are subject to redemption before their fixed maturities and may fix the premium for and...
• Sec. 37.15.060 Form and Registration of Bonds.
  An issue or series of bonds may be issued in coupon form payable to bearer or in fully registered form, and bonds in coupon...
• Sec. 37.15.070 Place of Payment.
  The state bond committee may fix the place or places of payment of the principal, interest and redemption premium, if any.
• Sec. 37.15.080 Signatures and Seal.
  (a) Each bond shall be signed on behalf of the state by the governor and attested by the lieutenant governor, which signatures may be...
• Sec. 37.15.090 Terms and Conditions.
  Each issue or series of bonds shall be issued under and subject to the terms, conditions, and covenants providing for the payment of the...
• Sec. 37.15.100 Trustee.
  If the state bond committee finds it necessary to accomplish the most advantageous sale of the bonds, the committee shall select a trustee for...
• Sec. 37.15.110 Creation and Membership of State Bond Committee.
  There is created a committee known as the "state bond committee," the members of which are the commissioner of commerce, community, and economic development,...
• Sec. 37.15.120 Regulations.
  The state bond committee may adopt regulations for the performance of its duties and may designate by resolution one of its members to perform...
• Sec. 37.15.130 Officers, Records, and Proceedings.
  The commissioner of commerce, community, and economic development is the chairman of the state bond committee and the commissioner of revenue is the secretary....
• Sec. 37.15.140 Duties of State Bond Committee.
  The state bond committee shall adopt the resolution and prepare the documents necessary for the issuance, sale, and delivery of bonds.
• Sec. 37.15.150 Committee May Employ Special Services.
  If the state bond committee considers it necessary and advisable, it may procure architectural or engineering, fiscal agent or municipal investment, legal and other...
• Sec. 37.15.155 Prohibited Bidding on Bonds and Anticipation Notes.
  (a) A person who provides financial programming or marketing assistance to the state bond committee in connection with the issuance or sale of general...
• Sec. 37.15.160 Contents of Resolution.
  The resolution adopted by the state bond committee must(1) fix the principal amount, denominations, date, maturities, place of payment, terms, right of redemption if...
• Sec. 37.15.170 State Bond Committee to Certify Annual Principal, Interest, and Reserve Requirements.
  (a) Before December 1 of each year after bonds are issued, the state bond committee shall certify to the commissioner of administration the amount...
• Sec. 37.15.180 Remedies of Bondholders.
  The owner and holder of each bond or the trustee may by appropriate proceeding require and compel the transfer and payment of money as...
• Sec. 37.15.190 Negotiability.
  General obligation bonds of the state and the coupons attached to the bonds are negotiable instruments.
• Sec. 37.15.200 Bonds As Legal Investments.
  General obligation bonds of the state are legal investments for all state funds, or for funds under state control, and for all funds of...
• Sec. 37.15.210 Refunding Bonds.
  (a) All or a part of the general obligation bonds of the state, or all or a part of each outstanding issue or series...
• Sec. 37.15.215 Official Statements.
  To the extent practicable the official statements and other documentation issued in connection with an offering of state or local government securities must comply...
• Sec. 37.15.220 Short Title.
  AS 37.15.010 - 37.15.220 may be cited as the State Bonding Act.

Last modified: November 15, 2016