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Current as of January 01, 2022 | Updated by FindLaw Staff
(a) Except as provided in (b) of this section, the corporation may issue bonds in its discretion for any of its corporate purposes and may issue refunding bonds for the purpose of paying or retiring bonds previously issued by it.
(b) The corporation may not, without prior legislative approval, issue bonds, other than refunding bonds,
(1) in a total amount in excess of $1,000,000 each calendar year; or
(2) if the annual debt service on all outstanding bonds issued and proposed to be issued exceeds $1,000,000 in a fiscal year.
Cite this article: FindLaw.com - Alaska Statutes Title 26. Military Affairs, Veterans, Disasters, and Aerospace § 26.27.150. Issuance of bonds, notes, and refunding bonds - last updated January 01, 2022 | https://codes.findlaw.com/ak/title-26-military-affairs-veterans-disasters-and-aerospace/ak-st-sect-26-27-150/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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