(a) Subject to the limitations of AS 44.88.840 , for Arctic infrastructure development, the authority may
(1) use the Arctic infrastructure development fund (AS 44.88.810 ) to finance Arctic infrastructure development, insure project obligations, guarantee loans or bonds, and establish reserves;
(2) acquire real or personal property by purchase, transfer, or foreclosure when the acquisition is necessary to protect the authority's interest in financing;
(3) defer principal payments or capitalize interest on Arctic infrastructure development;
(4) subject to AS 36.30.085 (e), enter into lease agreements, sales-lease-back agreements, build-operate-transfer and operate-transfer agreements, or any similar project financing agreement for a qualified Arctic infrastructure development;
(5) enter into agreements with government entities for the transfer and control of infrastructure, facilities, rights-of-way, and studies;
(6) contract for services with a professional advisor, including an attorney, bond counsel, engineer, or other technical expert necessary to fulfill the purposes of the program; and
(7) subject to AS 44.88.090 , borrow money and issue bonds.
(b) The authority shall adopt regulations to implement AS 44.88.800 - 44.88.840, including
(1) a process for acquiring financing under this section;
(2) qualifications for Arctic infrastructure development projects applying for financing under this section; and
(3) fiscal controls and accounting procedures for the fund.
Section: Previous 44.88.800 44.88.810 44.88.820 44.88.830 44.88.840 NextLast modified: November 15, 2016