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Code · Alaska · Title 29 · Chapter 60

Sec. 29.60.540. Limitations on uses of grants by municipalities and villages.

68 words·~1 min read·/ak/title-29/chapter-60/29-60-540

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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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