- Alaska Statutes.
- Title 44. State Government
- Chapter 88. Alaska Industrial Development and Export Authority
- Section 173. Finance Plan.
previous: Section 172
. Economic Development Account.
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. Regional Resource Advisory Council.
AS 44.88.173. Finance Plan.
- (a) Before approving a project financed under AS 44.88.172
, the authority shall prepare a finance plan. The finance plan must include an estimate of the total cost of the
project, and a description of the sources of money that will be used to finance the total cost of the project. The
finance plan must also include an estimate of the operational costs of the completed project, as well as a description
of the source of the money that is to be used to pay the operational costs.
- (b) The authority shall give preference to a project that does not require financial assistance from the state. If the
authority determines that a project requires state financial assistance, and if the authority further determines that
it is desirable to finance the project, the authority shall recommend a method of financing that minimizes cost to the
state. A finance plan required under (a) of this section must identify the method of financing that minimizes the cost
to the state.
- (c) The authority shall submit a finance plan prepared under this section to the state bond committee, the governor, and
the legislature before issuing bonds or otherwise incurring debt for the project. If a project requires financial
assistance from the state, the state financial assistance must be available before bonds are issued for the project.
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