Sec. 44.88.810. Arctic infrastructure development fund.
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Sec. 44.88.810. Arctic infrastructure development fund.
The Arctic infrastructure development fund is established in the authority. The fund consists of appropriations made to the fund by the legislature, money or other assets transferred to the fund by a majority vote of the members of the authority under AS 44.88.050 from any other fund controlled by the authority, and unrestricted loan repayments, interest, or other income earned on loans, investments, or assets of the fund. The fund is not an account in the revolving fund established in AS 44.88.060 , and the authority shall account for the fund separately from the revolving fund.
The authority may create additional accounts in the fund. Subject to agreements made with the holders of the authority's bonds or with other persons, the authority may transfer amounts in an account in the fund to another account in the fund. Amounts deposited in the fund may be pledged to the payment of bonds of the authority or expended for the purposes of AS 44.88.800 — 44.88.840. The authority has the powers and responsibilities established in AS 37.10.071 with respect to the investment of amounts held in the fund.