Alaska Statutes Sec. 29.60.540 - Limitations on Uses of Grants by Municipalities and Villages

(a) A municipality may not use a grant made under AS 29.60.510 to reduce current municipal tax rates or to retire its existing bonded indebtedness.

(b) Money received by a municipality, village, or school district under AS 29.60.500 - 29.60.599 may not be used for a capital improvement, as that term is defined in AS 46.08.900 .

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Last modified: November 15, 2016