- Alaska Statutes.
- Title 37. Public Finance
- Chapter 10. Public Funds
- Section 87. Loans to Bond Construction Funds.
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AS 37.10.087. Loans to Bond Construction Funds.
- (a) When a construction fund or account established to receive the proceeds of state general obligation bonds is
temporarily exhausted the commissioner of administration on recommendation of the state bond committee, and with the
approval of the Legislative Budget and Audit Committee, may temporarily transfer money from the general fund to the
bond construction fund or account.
- (b) Transfers under (a) of this section may be made only when the commissioner of revenue determines and certifies to the
state bond committee that there is in the general fund an amount sufficient to meet current cash expenditure needs of
- (c) The amount transferred to a construction fund or account under (a) of this section may not exceed anticipated receipts
from the unsold general obligation bonds to be issued and the federal programs receipts estimated to be received for
the general obligation bond construction program financed from the construction fund or account.
- (d) Money transferred from the general fund under (a) of this section shall be immediately returned to the general fund as
soon as sufficient money has been received in the bond construction fund or account to which the transfer was made.
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