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- Alaska Statutes.
- Title 29. Municipal Government
- Chapter 35. Municipal Powers and Duties
- Section 610. Dissolution of a Port Authority.
previous: Section 605
. Establishment of Port Authorities.
next: Section 615
. Municipal Property.
AS 29.35.610. Dissolution of a Port Authority.
- (a) The enabling ordinance by which a port authority is created must provide for the manner by which a port authority may
- (b) If an authority ceases to exist, its assets shall be distributed to the municipalities that participated in the
authority in proportion to the difference between their contributions to the authority and any outstanding debt or
obligation of that municipality to the authority, provided that any obligation to bondholders then outstanding shall
first be satisfied in full.
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