Sec. 44.88.420. Powers and duties of the authority.
118 words·~1 min read·
/ak/title-44/chapter-88/44-88-420A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 44.88.420. Powers and duties of the authority.
(a)The authority may
(1)accept United States Economic Development Administration revolving fund grants;
(2)make loans to eligible applicants under the United States Economic Development Administration Long-Term Economic Deterioration
(LTED)and Sudden and Severe Economic Dislocation
(SSED)programs;
(3)designate agents and delegate powers to them as necessary;
(4)adopt regulations necessary to carry out its functions and to administer programs under United States Economic Development Administration guidelines, including regulations to establish reasonable fees for services provided;
(5)establish amortization plans for the repayment of loans that may include extensions; and
(6)charge and collect the fees established under this subsection.
(b)[Repealed, § 28 ch 90 SLA 1991.]