43 chapters · 1,022 sections in this title.
AS 18.55.010 Purpose of AS 18.55.100 — 18.55.290.
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The purpose of AS 18.55.100 — 18.55.290 is to remedy the acute housing shortage that exists in certain localities of the state by undertaking slum clearance, housing for low-income households, housing for persons and their families engaged in national defense activities in the st…
AS 18.55.020 Secs. 18.55.020 — 18.55.070. Alaska State Housing Authority. [Repealed, § 140 ch 4 FSSLA 1992.]
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[Repealed or reserved.]
AS 18.55.080 Members or employees prohibited from acquiring interest in projects.
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A member of the board of directors or employee of the corporation may not acquire an interest, direct or indirect, in a housing or public building project authorized by AS 18.55.100 — 18.55.290, or in property or a contract for materials or services included or planned to be incl…
AS 18.55.090 Removal of members. [Repealed, § 2 ch 9 SLA 1965.]
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[Repealed or reserved.]
AS 18.55.100 Powers of corporation.
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(a) To the extent not already provided by AS 18.56, the corporation has all powers necessary to carry out the purposes of AS 18.55.010 — 18.55.290, including the power to (1) sue and be sued; (2) adopt a seal; (3) have perpetual succession; (4) adopt, amend, and repeal bylaws and…
AS 18.55.105 Lease of authority's public buildings to political subdivisions. [Repealed, § 3 ch 118 SLA 1967.]
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[Repealed or reserved.]
AS 18.55.110 Cooperation with and aid of federal government.
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For purposes of AS 18.55.100 — 18.55.290, the corporation may do all things necessary or desirable to cooperate with or act as agent for the federal government, or to secure financial aid for housing projects for veterans of World War II and other citizens of the state, provided …
AS 18.55.120 Housing for low-income households.
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For purposes of AS 18.55.100 — 18.55.290, the corporation shall manage and operate housing for low-income households with rentals fixed at the lowest rates consistent with decent, safe, and sanitary dwellings.
AS 18.55.130 Qualifications of tenants.
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(a) In the operation or management of housing for low-income households, the corporation shall, from time to time, establish rents and requirements for admission of tenants to its housing in each municipality in which the housing of the corporation is located. (b) Except in the c…
AS 18.55.140 Issuance of bonds, notes, and refunding bonds.
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The corporation may issue bonds and notes from time to time in its discretion for a purpose authorized by this chapter and may issue refunding bonds for the purpose of paying or retiring bonds previously issued under this chapter.
AS 18.55.150 Security for bonds.
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(a) In conjunction with projects authorized by this chapter, the corporation may issue bonds, including bonds on which the principal and interest are payable (1) exclusively from the income and revenue of the housing project financed with the proceeds of the bonds; (2) exclusivel…
AS 18.55.160 Limitation of liability on bonds.
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(a) The members of the board of directors of the corporation and any person executing the bonds issued under AS 18.55.100 — 18.55.290 are not liable personally on the bonds by reason of their issuance. (b) The bonds of the corporation issued under AS 18.55.100 — 18.55.290 are not…
AS 18.55.170 Exemption from taxes.
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Bonds and other obligations of the corporation issued under AS 18.55.100 — 18.55.290 are declared to be 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 18.55.180 Issuance and sale of bonds and notes.
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Bonds and notes of the corporation issued under AS 18.55.100 — 18.55.290 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…
AS 18.55.185 Prohibited bidding on bonds and notes. [Repealed, § 4 ch 86 SLA 1981.]
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[Repealed or reserved.]
AS 18.55.187 Independent financial advisor.
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In negotiating the private sale of bonds or bond anticipation notes to an underwriter when that sale is authorized by AS 18.55.100 — 18.55.290, the corporation shall retain a financial advisor who is independent from the underwriter. The financial advisor may not bid on the bonds…
AS 18.55.190 Maximum interest rate. [Repealed, § 1 ch 52 SLA 1977.]
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[Repealed or reserved.]
AS 18.55.200 Additional powers to secure bonds or obligations under leases.
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When authorized by AS 18.55.100 — 18.55.290, 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 i…
AS 18.55.210 Right of obligee of corporation to bring action.
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An obligee of the corporation may, in addition to all other rights that may be conferred by AS 18.55.100 — 18.55.290 and subject only to contractual restriction binding upon the obligee, seek an injunction or an action in the nature of an action for mandamus against the members o…
AS 18.55.220 Power of corporation to confer upon obligee right to bring action or proceeding.
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In conjunction with the exercise of a power authorized by AS 18.55.100 — 18.55.290, 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 u…
AS 18.55.230 Exemption of real property of corporation from execution or other process.
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In conjunction with the exercise of a power authorized by AS 18.55.100 — 18.55.290, the real property of the corporation is exempt from levy and sale by execution. Execution or other judicial process may not issue against it and judgment against the corporation may not be a charg…
AS 18.55.240 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 any housing or public building project and for this purpose may comply with conditions and enter into the mortgages, trust indentures, leases, or agreemen…
AS 18.55.250 Property of corporation exempt from taxes and assessments.
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The property owned by the corporation under the authority granted in AS 18.55.100 — 18.55.290 is public property used for essential public and governmental purposes, and is exempt from all taxes and special assessments of a municipality, the state, or a political subdivision of t…
AS 18.55.255 Disposal of surplus property.
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(a) In conjunction with the exercise of a power authorized by AS 18.55.100 — 18.55.290, the corporation may convey real or personal property that it determines is in excess of its needs. Except as provided in (b) and (c) of this section, the sale shall be by public auction or by …
AS 18.55.260 Legality of corporation's bonds as investments.
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Bonds of the corporation that are issued under AS 18.55.100 — 18.55.290 are legal and proper investments and security for public and private banking, insurance, and trust funds.
AS 18.55.270 Recommendations for legislation.
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The corporation shall make recommendations for legislation or other action it considers necessary to carry out the purposes of AS 18.55.100 — 18.55.290.
AS 18.55.280 Public loans or donations to or cooperation with corporation.
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(a) In conjunction with the exercise by the corporation of a power authorized by AS 18.55.100 — 18.55.290, a public body, officer, 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…
AS 18.55.288 Definitions.
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In AS 18.55.010 — 18.55.290, (1) “corporation” means the Alaska Housing Finance Corporation; (2) “project site” means area devoted for a housing project; (3) “public building” means a publicly owned structure leased to the state for governmental, public, or educational use.
AS 18.55.290 Short title.
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Article 2. Moderate Cost and Rental Housing. AS 18.55.010 — 18.55.290 may be cited as the Housing Project and Public Building Assistance Act.
AS 18.55.300 Declaration of purpose.
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The legislature declares that in addition to an acute shortage of low-income rental housing there is a serious shortage of moderate-cost and rental housing for families of the state, endangering their health and constituting a menace to the health, safety, morals, welfare, and co…
AS 18.55.310 Powers and duties of corporation.
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The corporation shall construct, protect, operate, maintain, rent, and sell at the places in the state that it considers most appropriate moderate-cost or rental housing facilities and projects for veterans and other residents of the state. For this purpose the corporation may ac…
AS 18.55.320 Sale of surplus property.
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(a) The corporation may sell a property held by it under AS 18.55.300 — 18.55.470 that it finds is in excess of its needs. The sale shall be by public auction or by sealed bids at a price not lower than the fair market value determined by an appraisal made within 180 days of the …
AS 18.55.330 Preference to veterans.
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The corporation shall initially offer 50 percent of the dwelling units in a housing project held by it under AS 18.55.300 — 18.55.470 for rent or sale to veterans. The offer shall be by publication of reasonable notice in a newspaper circulated in the area in which the housing pr…
AS 18.55.340 Care, operation, maintenance, and rental of housing.
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The corporation has control over and is responsible for the care, operation, maintenance, and rental or sale of the housing held by it under AS 18.55.300 — 18.55.470. It may enter into appropriate arrangements for carrying out this responsibility and for safeguarding the interest…
AS 18.55.350 Availability of housing units.
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The corporation shall make the housing units held by it under AS 18.55.300 — 18.55.470 available for rental to eligible persons upon application in the form it prescribes, and at the moderate rentals that it considers proper, or for sale at the prices and subject to the terms and…
AS 18.55.360 Alaska State Housing Authority Revolving Fund. [Repealed, § 72 ch 113 SLA 1982.]
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[Repealed or reserved.]
AS 18.55.370 Use of money.
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Money appropriated or made available under AS 18.55.300 — 18.55.470 may be used by the corporation to make (1) character loans, not exceeding $500 for each dwelling, to residents or cooperatives for the improvement, conversion, or construction of dwellings in remote areas for occ…
AS 18.55.375 Investment of state surplus. [Repealed, § 33 ch 141 SLA 1988.]
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[Repealed or reserved.]
AS 18.55.380 Corporation may use powers under other laws.
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The corporation may invoke a power given to it under any statute, including the powers of eminent domain and those relating to the issuance of bonds and obligations with respect to a project undertaken or loan made or to be made under the authorization provided in AS 18.55.300 — …
AS 18.55.390 Limitation on corporation's power.
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The power of the corporation to act under AS 18.55.300 — 18.55.470 is limited to projects in which adequate financing on reasonable terms is not otherwise available or entrepreneurial sponsorship is lacking.
AS 18.55.400 Expenditure of money.
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The corporation may spend the portion of the money appropriated under AS 18.55.300 — 18.55.470 that it considers advisable, either directly or in cooperation with educational institutions or government agencies, to develop, through study, research, and analysis, information regar…
AS 18.55.410 Power to sell, transfer, or dispose of projects.
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The corporation may at any time sell, transfer, or otherwise dispose of a housing project under AS 18.55.300 — 18.55.470 to the federal government, provided the corporation is completely relieved of all obligations assumed or guaranteed by it in connection with the housing projec…
AS 18.55.420 Regulations; allocation of units and projects.
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The corporation may (1) adopt and enforce reasonable rules and regulations under AS 18.56.088 to carry out the purposes of AS 18.55.300 — 18.55.470; and (2) determine the allocation of dwelling units and projects constructed in a municipality on the basis of the municipality's po…
AS 18.55.430 Authority to submit annual report. [Repealed, § 140 ch 4 FSSLA 1992.]
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[Repealed or reserved.]
AS 18.55.440 Additional powers to acquire land or interests in land.
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For the purpose of carrying out AS 18.55.300 — 18.55.470, the corporation may acquire by purchase, lease, condemnation, or otherwise, (1) land and appurtenances to land necessary or desirable for the establishment, construction, and operation of moderate cost and moderate rental …
AS 18.55.450 Ability to accept land and other property.
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The corporation may accept land, a building, property, or equipment that is available from an executive department, independent establishment or agency of the federal government or the state, or a municipality, for the purpose of carrying out AS 18.55.300 — 18.55.470.
AS 18.55.460 Preference for state professional and contractors' services.
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In planning, designing, and constructing projects under AS 18.55.300 — 18.55.470, the corporation shall use professional and contractor services of state residents as far as practicable and shall encourage the use of local building materials.
AS 18.55.470 Definitions.
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Article 3. Slum Clearance and Redevelopment Act. In AS 18.55.300 — 18.55.470, (1) “corporation” means the Alaska Housing Finance Corporation; (2) “moderate cost” means a cost determined by the corporation that is below the level at which private enterprise is currently building a…
AS 18.55.480 Findings and declaration of necessity.
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The legislature finds and declares that (1) slum and blighted areas exist in localities throughout the state and they constitute a serious and growing menace, injurious and inimical to the public health, safety, morals, and welfare of the residents of the state; (2) the existence…
AS 18.55.490 Legislative intent.
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It is the intent of the legislature in AS 18.55.480 — 18.55.960 to take advantage of 42 U.S.C. 1441 — 1469c (Title I of the Housing Act of 1949 (P.L. 81-171; 63 Stat. 413)), as amended.