Sec. 44.85.410. Definitions.

405 words·~2 min read·/ak/title-44/chapter-85/44-85-410

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

In this chapter, unless the context requires otherwise,

(1)“bond bank authority” means the Alaska Municipal Bond Bank Authority established by AS 44.85.020 ;

(2)“bonds” means bonds of the bond bank authority issued under this chapter;

(3)“governmental employer” means the State of Alaska or a municipality or other state or municipal governmental entity within the state, including an agency, instrumentality, district, school district, public corporation, department, division, or other subdivision of the state or of a municipality, in its capacity as an employer;

(4)“municipal bond” means a bond or note or evidence of debt that constitutes

(A)a general obligation bond that is a direct and general obligation of a political subdivision of the state, all the taxable property within which is subject to taxation to pay the bond, note, or evidence of debt, and the interest without limitation, as to rate or amount generally to the extent permitted by law or to avoid a default as provided for second class cities under AS 29.45.590 ;

(B)a revenue bond issued by a municipality, the University of Alaska, a regional health organization, a joint action agency formed under AS 42.45.310 , a solid waste management authority, or a port authority that pledges the revenue of a revenue-producing capital improvement and that is payable solely from the revenue of the revenue-producing capital improvement;

(C)a general obligation bond or revenue bond combined or additionally secured;

(D)a bond of a borough issued as a general obligation of a service area under AS 29.47.440 or former AS 29.58.340 ; or

(E)an obligation of a municipality secured only by

(i)special assessments on benefited property;

(ii)tax increments and a letter of credit or equal security; or

(iii)a lease;

(5)“notes” means notes of the bond bank authority issued under this chapter;

(6)“public body” means a public body corporate and politic or a political subdivision of the state established under any law of the state which may issue municipal bonds;

(7)“regional health organization” has the meaning given in AS 18.28.100 ;

(8)“reserve fund” means the Alaska municipal bond bank reserve fund established under AS 44.85.270 ;

(9)“revenues” means all fees, charges, money, profits, payments of principal of or interest on municipal bonds and other investments, gifts, grants, contributions, appropriations, and all other income derived or to be derived by the bond bank authority under this chapter.