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Alaska Statutes Title 37. Public Finance § 37.16.050. Bond terms

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(a) The bonds may be issued and sold at public or negotiated sale in the manner, in the amounts or series, and at the time or times that the corporation determines the bonds, or each series of them, shall be sold at the price and on the terms, conditions, and covenants set by the corporation after considering market conditions.  Interest rates may be fixed or variable.

(b) The bonds mature at the time or times fixed by the corporation.  The bonds may be subject to redemption before their fixed maturities, as determined by the corporation, with or without a premium or premiums.  The bonds may be in denominations determined by the corporation;  may be issued in fully or partially registered form;  must be payable as to principal and interest at the place or places determined by the corporation;  must be signed in the manner provided by the corporation;  and must be issued under and subject to the terms, conditions, covenants, and protective features safeguarding payment of the bonds as found necessary by the corporation.

(c) If the corporation finds it reasonably necessary, the corporation may select a trustee or trustees for the holders of the bonds, or any series of them, for the safeguarding and disbursement of any of the money in the bond reserve fund or for duties with respect to the enforcement, authentication, delivery, payment, and registration of the bonds as the corporation may determine.  The corporation shall fix the rights, duties, powers, and obligations of the trustee or trustees.

(d) In its determination of all matters and questions relating to the issuance and sale of the bonds and the fixing of their maturities, terms, conditions, and covenants as provided in (a) of this section, the decisions of the corporation shall be those that are reasonably necessary for the best interests of the state and its inhabitants and that will accomplish the most advantageous sale of the bonds.  Decisions of the corporation, as expressed in a bond resolution, are final and are conclusively considered to comply with the requirements of this chapter.

Cite this article: - Alaska Statutes Title 37. Public Finance § 37.16.050. Bond terms - last updated April 21, 2021 |

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