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Alaska Statutes Title 29. Municipal Government § 29.47.190. Vote and notice of existing indebtedness required

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) A municipality may incur general obligation bond debt only after a bond authorization ordinance is approved by a majority vote at an election. Any municipal voter may vote in the bond election, except as otherwise provided by law.

(b) Before a general obligation bond issue election, the governing body shall have published a notice of the total existing bond indebtedness at least once a week for three consecutive weeks. The first notice shall be published at least 20 days before the date of the election. A notice must include

(1) the current total general obligation bonded indebtedness, including authorized but unsold bonds of the municipality;

(2) the cost of the debt service on the current indebtedness;

(3) the total assessed value of property in the municipality.

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Cite this article: FindLaw.com - Alaska Statutes Title 29. Municipal Government § 29.47.190. Vote and notice of existing indebtedness required - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-29-municipal-government/ak-st-sect-29-47-190/

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