- Alaska Statutes.
- Title 29. Municipal Government
- Chapter 47. Municipal Debt
- Section 120. Security.
previous: Section 110
. Repayment of Notes.
next: Section 130
AS 29.47.120. Security.
- (a) Notwithstanding other provisions of this chapter as to payment of notes, notes issued in anticipation of the sale of
general obligation bonds and the interest on them are secured by the full faith and credit of the municipality. The
municipality may levy ad valorem taxes for payment without limitation of rate or amount.
- (b) Notes issued in anticipation of the sale of revenue bonds and the interest on them are secured in the same manner as
are the revenue bonds in anticipation of which the notes are issued.
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