Sec. 19.15.020. Assent to federal aid; line of credit.
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/ak/title-19/chapter-15/19-15-020·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 19.15.020. Assent to federal aid; line of credit.
(a)The legislature assents to the Act of Congress approved July 11, 1916 (39 Stat. 355) entitled, “An Act to provide that the United States shall aid the states in the construction of rural post roads, and for other purposes.” The department may make all contracts and do all things necessary to cooperate with the federal government in the construction of highways under the provisions of that Act, and all Acts amending or supplementing it, and any other Act of Congress that may be enacted, including the Federal-Aid Highway Act of 1956 (Public Law 627, 85th Congress, 2nd Session).
(b)The department may incur a line of credit or indebtedness to the Federal Highway Administration, United States Department of Transportation, under 23 U.S.C. 601 — 609 (Transportation Infrastructure Finance and Innovation Act of 1998), as amended, and may enter into a contract or agreement with any public or private person, governmental unit or agency, corporation, or other business entity to secure the indebtedness.