- Alaska Statutes.
- Title 29. Municipal Government
- Chapter 47. Municipal Debt
- Section 30. Issuance of Notes in Anticipation of State or Federal Grants.
previous: Section 20
. Issuance of Notes.
next: Section 40
. Priority of Repayment.
AS 29.47.030. Issuance of Notes in Anticipation of State or Federal Grants.
- (a) A municipality, on adoption of a long-range capital improvement budget by ordinance or resolution, may by resolution
provide for negotiable or nonnegotiable revenue anticipation notes in an amount not to exceed the total amount of any
state or federal grants finally committed for these projects. The notes mature no later than the end of the next fiscal
year. The notes may be for single or multiple projects outlined in the adopted capital improvement budget.
- (b) If the state or federal grants for capital improvement projects have not been paid to the municipality before maturity
of the notes issued in anticipation of the receipt of the revenue, the governing body may issue new notes in order to
meet payment of the notes then maturing or may renew the outstanding revenue anticipation notes. New notes issued or
renewals of outstanding revenue anticipation notes mature not later than the end of the next fiscal year.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.