reglab/housing_qa huggingface dataset:
AK Stat § 44.88.060 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 1. Creation and Organization.|Sec. 44.88.060. Alaska Industrial Development and Export Authority revolving fund.

The Alaska Industrial Development and Export Authority revolving fund is established in the authority. The revolving fund consists of appropriations made to the revolving fund by the legislature, money or other assets transferred to the revolving fund by the authority, and unrestricted payments on loans made or purchased by the authority. Unless otherwise expressly stated, the accounts created in this chapter are accounts in the revolving fund. The authority may create additional accounts either in the revolving fund or outside the revolving fund. Subject to agreements made with the holders of the authority's bonds or with other persons, the authority may transfer amounts in an account in the revolving fund to another account in the revolving fund. Amounts deposited in the revolving fund may be pledged to the payment of bonds of the authority or expended for the purposes of the authority under this chapter. The authority has the powers and responsibilities established in AS 37.10.071 with respect to the investment of amounts held in the revolving fund.
AK Stat § 44.88.070 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 2. Purpose and Powers.|Sec. 44.88.070. Purpose of the authority.

The purpose of the authority is to promote, develop, and advance the general prosperity and economic welfare of the people of the state, to relieve problems of unemployment, and to create additional employment by (1) providing various means of financing and means of facilitating the financing, in cooperation with federal, state, and private institutions, of industrial, manufacturing, energy, export, small business, and business enterprises and the other facilities referred to in AS 44.88.010(a) in the state; (2) owning and operating or providing development project financing for the enterprises and other facilities described in AS 44.88.172; (3) fostering the expansion of exports of goods, services, and raw materials of the state; (4) cooperating and acting in conjunction with other organizations, public and private, the objects of which are the promotion and advancement of export trade activities in the state; (5) establishing a source of funding credit guarantees and insurance, not otherwise available, to support export development; (6) providing and cooperating or participating with federal, state, and private institutions to provide actual and potential state exporters, particularly small- and medium-sized exporters, with financial assistance in support of export transactions.
AK Stat § 44.88.100 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 3. Financial Provisions.|Sec. 44.88.100. Trust indentures and trust agreements.

In the discretion of the authority, an issue of bonds may be secured by a trust indenture or trust agreement between the authority and a corporate trustee (which may be a trust company, bank, or national banking association, with corporate trust powers, located inside or outside the state) or by a secured loan agreement or other instrument or under a resolution giving powers to a corporate trustee (hereinafter in this section referred to as “trust agreement”) by means of which the authority may (1) make and enter into any and all the covenants and agreements with the trustee or the holders of the bonds which the authority may determine to be necessary or desirable, including, without limitation, covenants, provisions, limitations, and agreements as to (A) the application, investment, deposit, use, and disposition of the proceeds of bonds of the authority or of money or other property of the authority or in which it has an interest; (B) the fixing and collection of rents or other consideration for and the other terms to be incorporated in a lease or contract of sale of a project or development project financed under AS 44.88.155 - 44.88.159 or 44.88.172 - 44.88.177; (C) the assignment by the authority of its rights in the lease or contract of sale of a project or development project financed under AS 44.88.155 - 44.88.159 or 44.88.172 - 44.88.177 or in a mortgage or other security interest created with respect to a project or development project financed under AS 44.88.155 - 44.88.159 or 44.88.172 - 44.88.177 to a trustee for the benefit of bondholders; (D) the terms and conditions upon which additional bonds of the authority may be issued; (E) the vesting in a trustee of rights, powers, duties, funds, or property in trust for the benefit of bondholders, including, without limitation, the right to enforce payment, performance, and all other rights of the authority or of the bondholders under a lease, contract of sale, mortgage, security agreement, or trust agreement with respect to a project or development project financed under AS 44.88.155 - 44.88.159 or 44.88.172 - 44.88.177 by mandamus or other proceeding or by taking possession of by agent or otherwise and operating a project or facility and collecting rents or other consideration and applying the same in accordance with the trust agreement; (2) pledge, mortgage, or assign money, leases, agreements, property, or other assets of the authority either presently in hand or to be received in the future, or both; and (3) provide for any other matters of like or different character which in any way affect the security or protection of the bonds.
AK Stat § 44.88.110 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 3. Financial Provisions.|Sec. 44.88.110. Validity of pledge.

It is the intention of the legislature that a pledge made in respect of bonds shall be valid and binding from the time the pledge is made; that the money or property so pledged and thereafter received by the authority shall immediately be subject to the lien of the pledge without physical delivery or further act; and that the lien of the pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority irrespective of whether the parties have notice. Neither the resolution, trust agreement, nor any other instrument by which a pledge is created need be recorded or filed under the provisions of the Uniform Commercial Code to be valid, binding, or effective against the parties.
AK Stat § 44.88.120 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 3. Financial Provisions.|Sec. 44.88.120. Nonliability on bonds.

(a) Neither the members of the authority nor a person executing the bonds are liable personally on the bonds or are subject to personal liability or accountability by reason of the issuance of the bonds. (b) The bonds issued by the authority do not constitute an indebtedness or other liability of the state or of a political subdivision of the state, except the authority, but shall be payable solely from the income and receipts or other funds or property of the authority. The authority may not pledge the faith or credit of the state or of a political subdivision of the state, except the authority, to the payment of a bond and the issuance of a bond by the authority does not directly or indirectly or contingently obligate the state or a political subdivision of the state to apply money from, or levy or pledge any form of taxation whatever to the payment of the bond.
AK Stat § 44.88.130 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 3. Financial Provisions.|Sec. 44.88.130. Pledge of the state.

The state pledges to and agrees with the holders of bonds issued under this chapter and with the federal agency that lends or contributes funds in respect to a project or development project financed under AS 44.88.155 - 44.88.159 or 44.88.172 - 44.88.177 that the state will not limit or alter the rights and powers vested in the authority by this chapter to fulfill the terms of a contract made by the authority with the holders or federal agency and that the state will not in any way impair the rights and remedies of the holders until the bonds, together with the interest on them with interest on unpaid installments of interest, and all costs and expenses in connection with an action or proceeding by or on behalf of the holders are fully met and discharged. The authority is authorized to include this pledge and agreement of the state, insofar as it refers to holders of bonds of the authority, in a contract with the holders and, insofar as it relates to a federal agency, in a contract with the federal agency.
AK Stat § 44.88.150 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 3. Financial Provisions.|Sec. 44.88.150. Bonds legal investments for fiduciaries.

The bonds of the authority are securities in which all public officers and bodies of the state and all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks, savings associations, including savings and loan associations and building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest funds including capital in their control or belonging to them. Notwithstanding any other provisions of law, the bonds of the authority are also securities which may be deposited with and may be received by all public officers and bodies of this state and all municipalities and municipal subdivisions for any purpose for which the deposit of bonds or other obligations of the state is now or may hereafter be authorized.
AK Stat § 44.88.165 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.165. Delinquent loans.

The authority shall adopt regulations to describe the circumstances under which it will discontinue purchasing loans from a financial institution because of excessive delinquencies among the loans previously purchased by the authority from the financial institution. In adopting the regulations, the authority must consider the authority's delinquency experience with loans it purchased from all financial institutions. The authority may include in the regulations other remedies it considers appropriate as alternatives to the discontinuance of purchasing loans from the financial institution.
AK Stat § 44.88.170 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.170. Purchase of project and leases.

(a) Except as provided in (c) of this section, nothing in this chapter prevents the inclusion in a lease or other agreement relating to a project of a provision granting the right to purchase the project, or to renew or extend the lease or agreement, upon the terms and conditions that may be provided for in the lease or agreement. (b) A lease with respect to a project may provide for two or more lessees with the legal relationship between themselves and the authority which the authority may approve, including without limitation, provisions to the effect that the obligations of the lessees under the lease for payment of rental or otherwise between themselves and the authority are several, joint, or joint and several and that the lessees lease the project as tenants in common, or otherwise. (c) The authority, without first obtaining legislative approval, may not enter into a gas supply contract with a natural gas producer to provide natural gas to Interior Alaska as a primary market unless the contract is for the benefit of a natural gas liquefaction or distribution utility that is owned by the authority or a subsidiary of the authority and the contract is for the natural gas producer to provide the utility, and only the utility, with a natural gas supply that the utility uses to serve customers in Interior Alaska.
AK Stat § 44.88.172 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.172. Economic development account.

(a) The economic development account is established in the revolving fund. The economic development account consists of money or assets appropriated, loaned, or transferred to the authority for deposit in the account and other money or assets deposited in the account by the authority. While money is on deposit in the economic development account, the money may be used to finance, acquire, manage, and operate development projects that the authority intends to own and operate or to provide development project financing for development projects the authority does not intend to own and operate. In this subsection, (1) “operate” includes operation directly by the authority, by an agent of the authority, or by a person as determined under an agreement between the authority and other owners of the development project; (2) “own” includes ownership by the authority of all or a percentage of a development project or all or a percentage of the shares of a corporation or membership in a limited liability company for which the development project is the sole asset of the corporation or limited liability company. (b) [Repealed, § 23 ch 123 SLA 1990.]  (c) [Repealed, § 23 ch 123 SLA 1990.]  (d) The authority shall adopt regulations to implement this section. The regulations may include provisions for the application process, application fees, interest rates, other charges and fees, terms, conditions, security, and other requirements for development projects the authority undertakes or development project financing the authority provides.
AK Stat § 44.88.173 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.173. Finance plan.

(a) Before approving a project financed under AS 44.88.172, the authority shall prepare a finance plan. The finance plan must include an estimate of the total cost of the project, and a description of the sources of money that will be used to finance the total cost of the project. The finance plan must also include an estimate of the operational costs of the completed project, as well as a description of the source of the money that is to be used to pay the operational costs. (b) The authority shall give preference to a project that does not require financial assistance from the state. If the authority determines that a project requires state financial assistance, and if the authority further determines that it is desirable to finance the project, the authority shall recommend a method of financing that minimizes cost to the state. A finance plan required under (a) of this section must identify the method of financing that minimizes the cost to the state. (c) The authority shall submit a finance plan prepared under this section to the state bond committee, the governor, and the legislature before issuing bonds or otherwise incurring debt for the project. If a project requires financial assistance from the state, the state financial assistance must be available before bonds are issued for the project.
AK Stat § 44.88.174 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.174. Regional resource advisory council.

(a) Within 30 days after the authority adopts a resolution certifying that a project in the unorganized borough is eligible for financing under AS 44.88.172, the governor shall appoint a Regional Resource Advisory Council in the area of the state where the project is to be located and for which a regional housing authority has been established under AS 18.55.996. The purpose of a council is to assist the authority in reviewing a project that has been proposed for development in its area of the state. (b) A Regional Resource Advisory Council consists of five members registered to vote in the region. The governor shall appoint the members to reflect the economic and geographic diversity of the region. Council members serve three-year terms at the pleasure of the governor, except that the initial members may be appointed for less than three years so that the term of at least one of the members expires each year. The governor shall appoint a chairperson who shall call meetings as required and preside over the deliberations of the council. A majority of the council constitutes a quorum for conducting the business of the council. (c) Members of a Regional Resource Advisory Council do not receive compensation for their services on the council, but are entitled to per diem and travel expenses authorized by law for state boards and commissions under AS 39.20.180.
AK Stat § 44.88.177 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.177. Operation of projects.

If a project is financed under AS 44.88.172, the authority shall solicit the review and advice of the Regional Resource Advisory Council or governing body in the area in which a project is located before the execution of contracts, agreements, resolutions, or other matters that directly concern the development, maintenance, and operation of a project.
AK Stat § 44.88.178 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.178. Creation of subsidiaries.

The authority may create one or more subsidiary corporations for the purpose of acquiring, constructing, owning, operating, or financing a project financed under AS 44.88.172. A subsidiary corporation created under this section may be incorporated under AS 10.20.146 - 10.20.166. The authority may transfer assets of the authority to a subsidiary created under this section. A subsidiary created under this section may borrow money and issue bonds as evidence of that borrowing, and has all the powers of the authority that the authority grants to it. Unless otherwise provided by the authority, the debts, liabilities, and obligations of a subsidiary corporation created under this section are not the debts, liabilities, or obligations of the authority.
AK Stat § 44.88.180 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.180. Conflicts of interest.

(a) A member of the authority may not vote on a resolution of the authority relating to a lease or contract to be entered into by the authority under this chapter if the member is a party to the lease or contract or has a direct ownership or equity interest in a firm, partnership, corporation, or association that may be a party to the contract or lease. A resolution of the authority that is approved by a majority of the members who are not barred from voting under this subsection is a valid action of the authority for all purposes. (b) [Repealed, § 82 ch 41 SLA 2009.]
AK Stat § 44.88.190 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.190. Operation of certain statutes excepted.

(a) The authority may not be considered or constitute (1) a political subdivision of the state as the term is used in AS 37.10.085, (2) a municipal corporation or political subdivision of the state as the terms are used in AS 29, or (3) except as provided in AS 44.88.205, a state agency as the term is used in AS 37, but for all other purposes the authority constitutes a political subdivision and an instrumentality of the state as provided in this chapter. (b) The funds, income, or receipts of the authority may not be considered or constitute money of the state, nor may real property in which the authority has an interest be considered land owned in fee by the state or to which the state may become entitled or in any way land belonging to the state, or state land referred to in Art. VIII of the Alaska Constitution. (c) A loan participation purchased or financed by the authority is exempt from the provisions of AS 45.45.010.
AK Stat § 44.88.200 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.200. Annual audit.

The authority shall have its financial records audited annually by the legislative auditor or by a certified public accountant approved by the legislative auditor. The legislative auditor may prescribe the form and content of the financial records of the authority and shall have access to these records at any time.
AK Stat § 44.88.205 (2021)
2021 Alaska Statutes|Title 44. State Government|Chapter 88. Alaska Industrial Development and Export Authority|Article 4. General Administrative Provisions.|Sec. 44.88.205. Compliance with executive budget act; authority finances.

(a) The operating budget of the authority is subject to AS 37.07 (Executive Budget Act). (b) To further ensure effective budgetary decision making by the legislature, the authority shall (1) annually review the authority's assets to determine whether assets of the authority exceed an amount required to fulfill the purposes of the authority as defined in this chapter; in making its review, the authority shall determine whether, and to what extent, assets in excess of the amount required to fulfill the purposes of the authority during at least the next fiscal year are available without (A) breaching any agreement entered into by the authority; (B) materially impairing the operations or financial integrity of the authority; or (C) materially affecting the ability of the authority to fulfill the authority's purposes set out in AS 44.88.070; and (2) make available to the legislature by January 10 of each year a complete accounting of all assets of the authority and a report of the review and determination made under (1) of this subsection; the accounting shall be audited by the auditor who conducts the audit required by AS 44.88.200 and must include a full description of all loan interest and principal payments and program receipts, including (A) loan commitment fees received by or accrued to the authority during the preceding fiscal year; and (B) all income earned on assets of the authority during that period.