Title 37 — Public Finance
17 chapters · 393 sections in this title.
AS 37.15.903 Pension obligation bond limit.
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The total unpaid principal amount of bonds, including refunding bonds, but excluding refunded bonds, issued by all state entities added together, for the purposes of financing prepayment of all or a portion of a governmental employer's share of unfunded accrued liability of retir…
AS 37.15.905 Bond redemption fund.
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(a) There is established a special fund of the state, known as the pension obligation bond redemption fund, which is a trust fund for paying and securing the payment of the principal of and interest and redemption premium, if any, on the bonds, and which shall be at all times com…
AS 37.15.910 Bond terms.
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(a) The bonds may be issued and sold at public or negotiated sale in the manner, in the amounts or series, and at the time or times that the committee determines. The bonds, or each series of them, shall be sold at the price and on the terms, conditions, and covenants set by the …
AS 37.15.915 Bond resolution.
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The committee shall authorize the issuance of bonds by adopting a resolution and shall prepare all other documents and proceedings necessary for the issuance, sale, and delivery of the bonds or any part or series of them. The bond resolution must fix the principal amount, denomin…
AS 37.15.920 Enforcement by bond owner.
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(a) The owner or owners of not less than 10 percent of the aggregate principal amount of any series or issue of bonds or the trustee for the owners of the bonds or any series of them may, by appropriate proceedings in state court, require and compel the transfer, setting aside, a…
AS 37.15.925 Amounts required for payments.
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The committee shall, before June 30 of each year or from time to time within the year, as appropriate, commencing with the year in which the bonds are issued, certify to the commissioner of revenue and the commissioner of administration the amounts required in the current fiscal …
AS 37.15.930 Purposes and sufficiency of revenue.
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The proceeds of bonds may be used for the purposes described in AS 37.15.900(a), as appropriate. Bonds may not be issued unless the committee first finds that the actuarially assumed rate of return on the funds managed by the Alaska Retirement Management Board is projected to exc…
AS 37.15.935 Refunding.
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(a) The committee may refund the bonds or any part of them at or before their maturities or redemption dates by the issuance of refunding bonds of the state if the state bond rating is the equivalent of AA- or better and if, in the opinion of the committee, refunding is advantage…
AS 37.15.940 Bonds as legal investments.
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The bonds are legal investments for all banks, trust companies, savings banks, savings and loan associations, and other persons carrying on a banking business, all insurance companies and other persons carrying on an insurance business, and all executors, administrators, trustees…
AS 37.15.945 Statutory construction.
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AS 37.15.900 — 37.15.955 shall be liberally construed to carry out the purposes for which they were enacted.
AS 37.15.950 Regulations.
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The committee may adopt regulations necessary to implement the provisions of AS 37.15.900 — 37.15.955.
AS 37.15.955 Definitions.
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In AS 37.15.900 — 37.15.955, (1) “bond redemption fund” means the pension obligation bond redemption fund established in AS 37.15.905; (2) “bond resolution” means a resolution or resolutions adopted by the committee under AS 37.15.915 authorizing the issuance of bonds; (3) “bonds…