- Alaska Statutes.
- Title 37. Public Finance
- Chapter 15. Bonding
- Section 700. Refunding.
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. Bond Negotiability.
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AS 37.15.700. Refunding.
- (a) The bonds or any part of them may be refunded at or before their maturity by the issuance of refunding revenue bonds
of the state if in the opinion of the committee refunding is advantageous to and in the best interest of the state and
- (b) The issuance of refunding bonds need not be authorized by an act of the legislature, and the committee shall adopt the
resolution and prepare all other documents and proceedings necessary for the issuance, exchange or sale, and delivery
of the bonds. All provisions of AS 37.15.610 - 37.15.760 applicable to revenue bonds are applicable to
the refunding bonds and to the issuance, sale, or exchange of the bonds, except as otherwise provided in this section.
- (c) Refunding bonds may be issued in a principal amount sufficient to provide money for the payment of all bonds to be
refunded by them, and, in addition, for the payment of all expenses incident to the calling, retiring, or paying of the
outstanding bonds, and the issuance of the refunding bonds. These expenses include the difference in amount between the
par value of the refunding bonds and any amount less than par for which the refunding bonds are sold, any amount
necessary to be made available for the payment of interest on the refunding bonds from the date of sale of them to the
date of payment of the bonds to be refunded or to the date upon which the bonds to be refunded will be paid under the
call of the bonds or agreement with the holders of them, and the premium, if any, necessary to be paid in order to call
or retire the outstanding bonds and the interest accruing on the outstanding bonds to the date of the call or
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