Alaska Statutes Title 37. Public Finance § 37.10.087. Loans to bond construction funds

(a)(1) When a construction fund or account established to receive the proceeds of state general obligation bonds is temporarily exhausted, the commissioner of administration on recommendation of the state bond committee may temporarily transfer money from the general fund to the bond construction fund or account.

(2) If the amount of the transfer exceeds 25 percent of the amount authorized for the general obligation bonds, the commissioner of administration shall obtain approval of the transfer from the Legislative Budget and Audit Committee before the transfer.

(3) If a temporary transfer has already been made from the general fund to the bond construction fund or account, additional transfers may be made, but the total amount of the outstanding transfers not returned to the general fund under (d) of this section may not exceed 25 percent of the amount authorized for the general obligation bonds without approval from the Legislative Budget and Audit Committee.