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- Alaska Statutes.
- Title 21. Insurance
- Chapter 76. Joint Insurance Arrangements
- Section 120. Debt Financing.
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AS 21.76.120. Debt Financing.
- (a) A municipality or a municipal joint insurance arrangement may authorize the issuance of negotiable or nonnegotiable
bonds, notes, or certificates of participation to establish reserves and to self-insure against liability not covered
by excess insurance or reinsurance. A bond, note, or certificate issued under this subsection by a municipal joint
insurance arrangement shall be secured and payable from participating members of the municipal joint insurance
arrangement as provided in the cooperative agreement.
- (b) A municipality that has entered into a municipal joint insurance arrangement may enter into contracts and agreements
concerning debt issued under (a) of this section and provide for matters that affect the security of the debt. Bonds,
notes, and certificates of participation issued under (a) of this section may be sold at either public or private sale
as provided by the participants in the municipal joint insurance arrangement in the manner and at the price the
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