11 AAC 17.050. Disbursement of funds

Funds will be disbursed to projects for which appropriations have been made and for which agreements have been executed when

(1) for those projects submitted under 11 AAC 17.020(1) and (2), the municipality furnishes the director evidence that federal funds have been made available for the project;

(2) for those projects submitted under 11 AAC 17.020(3) , the municipality enters into a loan agreement with the state specifying repayment of the amount loaned plus annual interest at the rate of six percent within 10 years of the date the loan agreement is executed;

(3) for those projects submitted under 11 AAC 17.020(4) , the director determines the previous expenditures by the municipality were used on eligible property and the funds to be granted by the state are to be spent on the same property.

History: Eff. 8/6/77, Register 63

Authority: AS 41.21.040

AS 41.22.030

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.