Title 29, Municipal Government

The total amount of notes issued and outstanding may at no time exceed the total amount of bonds authorized to be issued.

The proceeds from the sale of notes shall be used only for the purposes for which the proceeds from the sale of bonds may be used, or to meet payment of outstanding bond anticipation notes.

A municipality may acquire, construct, improve, and equip capital improvements and issue negotiable or nonnegotiable general obligation bonds for these purposes.

(a) A municipality may incur general obligation bond debt only after a bond authorization ordinance is approved by a majority vote at an election. Any municipal voter may vote in the bond election, except as otherwise provided by law. (b) Before a general obligation bond issue el…

(a) The full faith and credit of a municipality are pledged for the payment of principal and interest on general obligation bonds. The municipality may levy ad valorem taxes for payment without limitation of rate or amount to pay or secure the payment of the principal and interes…

(a) A municipality may issue negotiable or nonnegotiable revenue bonds for a public enterprise or public corporation of the municipality where the only security is the revenue of the public enterprise or corporation. (b) A municipality may issue its revenue bonds to finance the p…

An election is not required to authorize the issuance and sale of revenue bonds, unless otherwise provided by ordinance.

The prohibitions of AS 37.10.085 do not apply to the issuance of revenue bonds or the use of proceeds from revenue bonds by a home rule or general law municipality.

If a municipality has outstanding general obligation or revenue bonds and the governing body determines that it would be financially advantageous to refund the bonds, the municipality may provide by ordinance or resolution for the issuance of negotiable or nonnegotiable (1) gener…

The refunding bonds may take up and refund all or part of outstanding bonds at or before their maturity or redemption date. The governing body may include various series and issues of bonds in a single issue of refunding bonds.

An election is not required to authorize the issuance and sale of refunding bonds. Their issuance may be authorized and all proceedings with reference to them prescribed by ordinance. However, when it is desirable to use general obligation bonds to refund a revenue bond issue, th…

General obligation refunding bonds are payable according to AS 29.47.200. Revenue refunding bonds are payable according to AS 29.47.240.

General obligation or revenue refunding bonds may, at the discretion of the governing body, be exchanged for the bonds being refunded, or may be sold at public or private sale. They may be issued and delivered at any time before the date of maturity or redemption of the refunded …

(a) A municipality may authorize by ordinance or resolution the issuance of negotiable or nonnegotiable revenue bonds to finance any project that serves a public purpose, and the bonds shall be secured and payable from any source except revenues, including tax revenue, of the mun…

Bonds and notes issued under this chapter may be sold at either public or private sale by the municipality in the manner and at the price it determines.

The municipality may by ordinance or resolution fix the date, denominations, maturities, rate or rates of interest, redemption terms, registration privileges, manner of execution, signatures required, purchase price, manner of sale, and other requirements for issuing bonds or not…

The interest rate payable on a bond or note issued under this chapter shall be determined by the municipality and is not subject to the usury rate limitations of AS 45.45.010.

A bond or note issued under this chapter may be made subject to redemption before maturity as stated in the authorization or in the bond or note.

(a) A borough may incur indebtedness on (1) an areawide basis for areawide functions; or (2) a nonareawide basis for functions performed only in the borough area outside all cities; or (3) a service area basis for functions performed only in a service area. (b) Payment of debt pr…

The indebtedness of a service area acquired under AS 29.47.440 remains the indebtedness of the area that incurred the debt, notwithstanding a subsequent court determination that the service area was not validly formed under law or by virtue of a defect in the proceedings creating…

(a) A municipality may issue bonds to finance or to make loans to finance the acquisition, construction, rehabilitation, or development of public improvements in improvement areas. The municipality may issue the bonds as general obligation bonds or as revenue bonds or as a combin…

(a) A municipality, or two or more municipalities jointly, may enter into a lease or other contractual agreement with a trustee, or the Alaska Municipal Bond Bank Authority or a subsidiary of the authority, a subsidiary of the Alaska Housing Finance Corporation, the state bond co…

The governing body of a municipality may establish a local historical district commission or designate the planning commission or itself to serve as the historical district commission.

(a) In addition to existing municipal authority providing for the preservation, protection, and maintenance of historic sites, the local historical district commission, in consultation with the Alaska Historical Commission in the Department of Natural Resources, may establish his…

(a) A municipality may establish an energy and resilience improvement assessment program under AS 29.55.100 — 29.55.165 to finance the construction, installation, or modification of permanent improvements that are fixed to new construction or existing privately owned commercial o…

(a) A municipality that establishes a program under AS 29.55.100 may (1) enter into a written contract with a record owner of privately owned commercial or industrial property in a region designated under AS 29.55.100 to impose an assessment to repay the financing of an energy or…

(a) The municipality shall prepare a report for a proposed program required by AS 29.55.100 that includes (1) a map showing the boundaries of each proposed region within which the program is available; (2) a form for a contract between the municipality and a property owner specif…

Before a municipality may enter into a written contract with a record owner of property to impose an assessment to repay the financing of an energy or resilience improvement project under AS 29.55.100, the property owner shall (1) give each holder of a mortgage lien on the proper…

The record owner of property on which an assessment is imposed under AS 29.55.105 shall obtain (1) for each proposed energy or resilience improvement project, (A) a review of the energy, emissions, or resilience baseline conditions, as appropriate; and (B) the projected reduction…

The proposed arrangements for financing an energy or resilience improvement project may authorize the property owner to (1) purchase directly the related equipment and materials for the energy or resilience improvement project; and (2) contract directly, including through lease, …

(a) A municipality that authorizes financing through assessments under AS 29.55.105 shall file written notice of each assessment in the property records of the recording district in which the property is located. (b) The notice under (a) of this section must contain (1) the amoun…

(a) Assessments under AS 29.55.105 and any interest or penalties on the assessments are liens on the property assessed and are prior and paramount to all liens except municipal tax liens and special assessments. Assessment liens may be enforced as provided in AS 29.45.320 — 29.45…

(a) A municipality may issue bonds or notes to finance energy and resilience improvement projects subject to assessment under AS 29.55.105. (b) Bonds or notes issued under this section may not be general obligations of the municipality. The bonds or notes must be secured by one o…

A municipality may enter into an agreement with (1) a third party to administer a program under AS 29.55.100; (2) one or more municipalities to implement or administer jointly a program under AS 29.55.100; if two or more municipalities jointly implement a program, a single public…

A municipality that establishes a region under AS 29.55.100 may not make the issuance of a permit, license, or other authorization from the municipality to a person who owns property in the region contingent on the person entering into a written contract to repay the financing of…

AS 29.55.100 — 29.55.165 apply to home rule and general law municipalities.

In AS 29.55.100 — 29.55.165, (1) “finance” and “financing” include refinancing an existing project; (2) “mortgage” has the meaning given in AS 13.06.050; (3) “program” means a program established under AS 29.55.100.

AS 29.55.100 — 29.55.165 may be cited as the Municipal Property Assessed Clean Energy and Resilience Act.

(a) Within the limits of appropriations for the purpose the department shall make matching grants in accordance with the provisions of AS 29.60.410 — 29.60.440 to municipalities or their nonprofit designees equal to (1) 50 percent of the estimated reasonable costs of construction…

(a) An application for a grant under AS 29.60.400 shall be made in a form prescribed by the commissioner. (b) A grant shall be allotted in accordance with an agreement made between the commissioner on behalf of the state and the grantee. The agreement may include any provision ag…

(a) [Repealed, § 35 ch 126 SLA 1994.] (b) The commissioner shall adopt regulations to carry out the purposes of AS 29.60.400 — 29.60.440.

If the amount of money appropriated by the legislature for grants under AS 29.60.400 is not adequate to satisfy amounts required for approved grant applications, money shall be allocated on the basis of priority established by regulations of the department.

AS 29.60.400 — 29.60.440 do not require that a recipient of a grant for a feasibility study must proceed with construction of the project, regardless of whether the project is determined to be feasible.

(a) A municipality may receive a fisheries business tax allocation under this section if the municipality demonstrates to the department that the municipality suffered significant effects from fisheries business activities during the base year. (b) The amount transmitted each fis…

(a) The legislature finds and declares that a major release of oil or hazardous substances into the environment presents a real and substantial threat to the economy and public welfare of the municipalities, villages, and school districts that are affected by the release and the …

(a) Subject to (b) of this section, the commissioner may use money from the oil and hazardous substance release prevention and response fund to make grants to a municipality, village, or school district that is affected by the release or by the response to the release and that de…