Title 26 — Military Affairs, Veterans, Disasters, and Aerospace
9 chapters · 320 sections in this title.
AS 26.27.010 Creation and termination of corporation.
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(a) The Alaska Aerospace Corporation is created as a public corporation of the state. The corporation is a body corporate and politic located for administrative purposes within the Department of Military and Veterans' Affairs and affiliated with the University of Alaska but with …
AS 26.27.020 Board of directors.
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(a) The powers and responsibilities of the corporation are vested in the board of directors. The board of directors of the corporation consists of nine members appointed by the governor as follows: (1) three state residents who have a significant high level of experience in the p…
AS 26.27.030 Chair and vice-chair.
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The board of directors of the corporation shall select a chair and vice-chair from among the members of the board of directors of the corporation who are state residents. The vice-chair presides over all meetings in the absence of the chair and has other duties the board of direc…
AS 26.27.040 Meetings; staff.
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(a) A majority of the members of the corporation constitutes a quorum for the transaction of business or the exercise of a power or function at a meeting of the corporation. The corporation shall meet at least every three months. The corporation may meet and transact business by …
AS 26.27.050 Alaska Aerospace Corporation fund.
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(a) The Alaska Aerospace Corporation fund is established in the corporation. The fund consists of appropriations made to the fund by the legislature, and rents, fees, or other money or assets transferred to the fund by the corporation. Amounts deposited in the fund may be pledged…
AS 26.27.060 Insurance coverage; safety program.
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(a) The corporation may engage actuarial experts and shall develop probability models to indicate the degree of potential harm to the public and private enterprise from the corporation's activities. (b) The corporation shall, to the extent available and consistent with federal re…
AS 26.27.070 Space activities location.
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To the extent that the University of Alaska agrees to lease the Poker Flat Research Range to the corporation, the Poker Flat Research Range constitutes the location and launch site for the corporation. The corporation may not pledge or encumber the Poker Flat Research Range, nor …
AS 26.27.080 Licenses and permits.
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The corporation shall obtain all federal and state licenses and permits necessary to fulfill the purposes, to perform the duties, and exercise the powers of the corporation.
AS 26.27.090 Purpose of the corporation.
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The purpose of the corporation is to allow the state to take a lead role in the exploration and development of space, to enhance human and economic development, and to provide a unified direction (1) for space-related economic growth thereby ensuring a stable and dynamic research…
AS 26.27.100 Powers and duties of the corporation.
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(a) In furtherance of its corporate purposes, in addition to its other powers the corporation may (1) sue and be sued; (2) adopt a seal; (3) have perpetual succession; (4) adopt, amend, and repeal bylaws and regulations; (5) make and execute contracts and other instruments; (6) i…
AS 26.27.110 Regulations.
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(a) The corporation shall adopt regulations to carry out the purposes of this chapter. (b) Except for AS 44.62.310 — 44.62.319 (Open Meetings Act), the provisions of AS 44.62 (Administrative Procedure Act) regarding the adoption of regulations do not apply to the corporation. The…
AS 26.27.120 Exercise by corporation of powers within municipalities.
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The corporation may exercise any of its powers in all portions of a space-related facility or territory lying within the boundaries of a municipality to the same extent and in the same manner as in areas of the space-related facility or territory not within the boundaries of a mu…
AS 26.27.130 Trade secrets confidential.
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The corporation shall maintain the confidentiality of a trade secret, or other proprietary technical information, supplied for purposes related to this chapter unless the owner of the trade secret authorizes its release or a court orders its release. Information covered by this s…
AS 26.27.140 Approval of projects by legislature.
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Notwithstanding any other provision of this chapter, a proposed construction project of $1,000,000 or more shall be submitted by the corporation to the legislature for approval at a regular session of the legislature.
AS 26.27.150 Issuance of bonds, notes, and refunding bonds.
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(a) Except as provided in (b) of this section, the corporation may issue bonds in its discretion for any of its corporate purposes and may issue refunding bonds for the purpose of paying or retiring bonds previously issued by it. (b) The corporation may not, without prior legisla…
AS 26.27.160 Security for bonds.
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The corporation may issue bonds including but not limited to bonds on which the principal and interest are payable (1) exclusively from the income and revenue of the space-related project financed with the proceeds of the bonds, (2) exclusively from the income and revenue of desi…
AS 26.27.170 Limitation of liability on bonds.
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The members of the corporation and a person executing the bonds are not liable personally on the bonds by reason of their issuance. The bonds of the corporation are not a debt of the state or a political or municipal corporation or other subdivision of the state, including the Un…
AS 26.27.180 Issuance and sale of bonds and notes.
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Bonds and notes of the corporation are authorized by adoption of a resolution prescribing the date of issuance and maturity, interest rate, denomination, form, conversion privilege, rank or priority, execution, terms of redemption, medium, and place of payment. Bonds and notes ma…
AS 26.27.190 Bonds exempt from taxes.
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Bonds and other obligations of the corporation are issued for an essential public and governmental purpose and are public instrumentalities and, together with interest on them and income from them, are exempt from taxes.
AS 26.27.200 Independent financial advisor.
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In negotiating the private sale of bonds or bond anticipation notes to an underwriter, the corporation shall retain a financial advisor who is independent from the underwriter. The financial advisor may not bid on the bonds or notes if offered at public sale or negotiate for thei…
AS 26.27.210 Additional powers to secure bonds or obligations under leases.
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In connection with the issuance of bonds or the incurring of obligations under leases and in order to secure the payment of bonds or lease obligations, the corporation, in addition to its other powers, may (1) pledge all or a part of its gross or net rents, fees, or revenues to w…
AS 26.27.220 Right of obligee of corporation to bring injunction.
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An obligee of the corporation may, in addition to all other rights that may be conferred and subject only to contractual restriction binding upon the obligee, seek an injunction or an action in nature of an action for mandamus against the members, the corporation, its officers, a…
AS 26.27.230 Power of corporation to confer upon obligee right to bring action or proceeding.
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The corporation may by resolution, trust indenture, mortgage, lease, or other contract confer upon an obligee holding or representing a specified amount in bonds, or holding a lease, the right upon a default as defined in the resolution or instrument by suit, action, or proceedin…
AS 26.27.240 Exemption of real property of corporation from execution or other process.
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All real property of the corporation is exempt from levy and sale by execution, and an execution or other judicial process may not issue against it. A judgment against the corporation may not be a charge or lien upon its real property. However, this section does not limit the rig…
AS 26.27.250 Power of corporation to obtain federal aid and cooperation.
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The corporation may borrow, accept contributions, grants, or other financial assistance from the federal government in aid of a space-related project and for this purpose may comply with conditions and enter into the mortgages, trust indentures, leases, or agreements that are nec…
AS 26.27.260 Exemption from taxes and assessments.
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The property of the corporation is public property used for essential public and governmental purposes and this property and the corporation are exempt from all taxes and special assessments of a municipality, the state, or a political subdivision of the state. However, instead o…
AS 26.27.270 Disposal of surplus property.
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(a) The corporation may convey real or personal property that it determines is in excess of its needs. Except as provided in (b) of this section, the sale shall be by public auction or by sealed bids. Public notice shall be given by publishing notice of the sale at least once a w…
AS 26.27.280 Public loans or donations to or cooperation with corporation.
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(a) A public body or agency of the state may (1) lend or donate money or property to the corporation; (2) cooperate with it in the planning, construction, or operation of a project; (3) transfer to it an interest in property, grant an easement, undertake otherwise authorized cons…
AS 26.27.290 Reserve fund.
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(a) The corporation shall establish and maintain a special fund called the Alaska Aerospace Corporation reserve fund in which there shall be deposited or transferred (1) all money appropriated by the legislature for the purpose of the fund in accordance with the provisions of (g)…
AS 26.27.300 Cooperation with other authorities.
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In issuing a bond, the corporation may request the assistance of and work with the Alaska Industrial Development and Export Authority and the Alaska Municipal Bond Bank Authority. The Alaska Industrial Development and Export Authority may invest in and issue bonds for space-relat…
AS 26.27.310 Investment of revenue.
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The revenue and receipts of the corporation, to the extent they are not needed to pay bonds or other obligations of the corporation, shall be invested by the commissioner of revenue in cooperation with the corporation.
AS 26.27.320 Legality of corporation bonds as investments.
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Bonds of the corporation are legal and proper investments and security for public and private banking, insurance, and trust funds.
AS 26.27.900 Definitions.
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In this chapter, (1) “board” means the board of directors of the Alaska Aerospace Corporation; (2) “corporation” means the Alaska Aerospace Corporation; (3) “landing site” means a site or facility designed, intended, or used for the landing or recovery of space vehicles, aircraft…