Title 31, Oil and Gas
4 chapters · 72 sections in this title.
AS 31.25.005 Purpose.
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The corporation shall, for the benefit of the state, to the fullest extent possible, (1) develop and have primary responsibility for developing natural gas pipelines, an Alaska liquefied natural gas project, and other transportation mechanisms to deliver natural gas in-state for …
AS 31.25.007 Expedited review and action by state agencies or entities.
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A state agency or entity conducting a review or taking action relating to a project under this chapter shall expedite the review or action in a manner consistent with the timely completion of the project.
AS 31.25.010 Structure.
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The Alaska Gasline Development Corporation is a public corporation and government instrumentality acting in the best interest of the state for the purposes required by AS 31.25.005, located for administrative purposes in the Department of Commerce, Community, and Economic Develop…
AS 31.25.020 Governing body.
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(a) The corporation shall be governed by a board of directors consisting of (1) five public members; and (2) two individuals designated by the governor that are each the head of a principal department of the state, except that the commissioner of natural resources and the commiss…
AS 31.25.030 Meetings of board.
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(a) The board shall elect a chair, secretary, and treasurer from among its membership at each annual meeting. A majority of the members constitutes a quorum for organizing the board, conducting its business, and exercising the powers of the corporation. The board shall meet at th…
AS 31.25.035 Minutes of meetings.
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The board shall keep minutes of each meeting and send certified copies to the governor and to the Legislative Budget and Audit Committee.
AS 31.25.040 Administration of affairs; program directors.
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(a) The board shall manage the assets and business of the corporation and may adopt, amend, and repeal bylaws and regulations governing the manner in which the business of the corporation is conducted and the manner in which its powers are exercised. The board shall delegate supe…
AS 31.25.045 Executive director.
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The corporation shall employ an executive director who may not be a member of the board. The executive director shall be appointed by the board and serves at the pleasure of the board.
AS 31.25.050 Legal counsel.
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(a) Except as provided in (b) of this section, the corporation shall retain legal counsel to advise the corporation in legal matters and represent it in litigation. (b) The attorney general shall (1) be the legal counsel for the corporation for legal services related to the devel…
AS 31.25.060 Employment of personnel.
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The board may appoint other officers and engage professional and technical advisors as independent contractors. The executive director may hire employees of the corporation and engage professional and technical advisors under contract with the corporation. The board shall prescri…
AS 31.25.065 Personnel exempt from State Personnel Act.
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The personnel of the corporation are exempt from AS 39.25.
AS 31.25.080 Powers and duties.
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(a) In addition to other powers granted in this chapter, the corporation may (1) determine the form of ownership and the operating structure of an in-state natural gas pipeline developed by the corporation and may enter into agreements with other persons for joint ownership, join…
AS 31.25.090 Confidentiality; interagency cooperation.
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(a) The corporation shall have access to information of departments, agencies, and public corporations of the state that is directly related to the planning, financing, development, acquisition, maintenance, construction, or operation of an in-state natural gas pipeline. The corp…
AS 31.25.100 In-state natural gas pipeline fund.
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The in-state natural gas pipeline fund is established in the corporation and consists of money appropriated to it. The corporation shall determine fund management and may contract with the Department of Revenue for fund management. Unless otherwise provided by law, money appropri…
AS 31.25.110 Alaska liquefied natural gas project fund.
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The Alaska liquefied natural gas project fund is established in the corporation and consists of money appropriated to it. The corporation shall determine fund management and may contract with the Department of Revenue for fund management. If money is appropriated to the fund to f…
AS 31.25.120 Creation of subsidiaries.
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The corporation may create subsidiary corporations for the purpose of developing, constructing, operating, and financing in-state natural gas pipeline projects or other transportation mechanisms; for the purpose of aiding in the development, construction, operation, and financing…
AS 31.25.130 Administrative procedure; regulations.
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(a) Except for AS 44.62.310 44.62.319 (Open Meetings Act), AS 44.62 (Administrative Procedure Act) does not apply to this chapter. The corporation shall make available to members of the public copies of the regulations adopted under (b) (e) of this section. (b) The board may …
AS 31.25.140 Exemption from the State Procurement Code; application of the Executive Budget Act; corporation finances.
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Article 2. Bonds and Notes. (a) The corporation and its subsidiaries are exempt from the provisions of AS 36.30 (State Procurement Code). (b) The operating budget of the corporation and a subsidiary of the corporation are subject to AS 37.07 (Executive Budget Act). (c) To further…
AS 31.25.160 Bonds and notes.
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(a) The corporation may, by resolution, issue bonds and bond anticipation notes to provide funds to carry out its purposes. (b) The principal of and interest on the bonds or notes are payable from corporation funds. Bond anticipation notes may be payable from the proceeds of the …
AS 31.25.170 Independent financial advisor.
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In negotiating the sale of bonds or bond anticipation notes to an underwriter, the corporation may retain a financial advisor. A financial advisor retained under this section must be independent from the underwriter.
AS 31.25.180 Validity of pledge.
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The pledge of assets or revenue of the corporation to the payment of the principal of or interest on an obligation of the corporation is valid and binding from the time the pledge is made, and the assets or revenue are immediately subject to the lien of the pledge without physica…
AS 31.25.190 Capital reserve funds.
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(a) The corporation may not establish a capital reserve fund as described in this section except as expressly authorized by law. The enactment of this section does not express that authorization. Upon enactment of a law expressly authorizing the establishment of a capital reserve…
AS 31.25.200 Remedies.
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A holder of obligations or coupons attached to them issued under this chapter, and a trustee under a trust agreement or resolution authorizing the issuance of the obligations, except as restricted by a trust agreement or resolution, either at law or in equity, (1) may enforce all…
AS 31.25.210 Negotiable instruments.
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All obligations and interest coupons attached to them are negotiable instruments under the laws of this state, subject only to applicable provisions for registration.
AS 31.25.220 Obligations eligible for investment.
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Obligations issued under this chapter are securities in which all public officers and public bodies of the state and its political subdivisions and all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees, and other…
AS 31.25.230 Refunding obligations.
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(a) The corporation may provide for the issuance of refunding obligations for the purpose of refunding obligations then outstanding that have been issued under this chapter, including the payment of the redemption premium on them and interest accrued or to accrue to the date of r…
AS 31.25.240 Credit of state not pledged.
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Article 3. General Provisions. (a) Obligations issued under this chapter do not constitute a debt, liability, or obligation of the state or of a political subdivision of the state or a pledge of the faith and credit of the state or of a political subdivision of the state but are …
AS 31.25.250 Limitation on personal liability.
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A member of the board or other officer of the corporation or a subsidiary of the corporation is not subject to personal liability or accountability because the member or officer executed or issued an obligation.
AS 31.25.260 Tax exemption.
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(a) The exercise of the powers granted by this chapter is, in all respects, for the benefit of the people of the state, for their well-being and prosperity, and for the improvement of their social and economic conditions, and the corporation is not required to pay a tax or assess…
AS 31.25.270 Annual report; final report.
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(a) The corporation shall prepare and transmit annually a report to the governor accounting for the efficient discharge of all responsibility assigned by law or by directive to the corporation. The corporation shall notify the legislature that the report is available. (b) By Janu…
AS 31.25.390 Definitions.
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In this chapter, unless the context clearly indicates a different meaning, (1) Alaska liquefied natural gas project means a natural gas project as described in AS 31.25.005(5) that includes collectively, the Prudhoe Bay unit gas transmission line, the Point Thomson unit gas tra…