reglab/housing_qa huggingface dataset:
AK Stat § 37.15.630 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.630. Revenue fund.

(a) The toll facilities revenue fund is established and shall be set apart from all other money of the state. The toll facilities revenue fund is a trust fund for the purposes under AS 37.15.610 - 37.15.760, where all revenue, fees, tolls, charges, and rentals are deposited that are derived by the state from the ownership, lease, use, and operation of the facilities authorized by AS 37.15.720 and 37.15.730. The revenue, fees, tolls, charges, and rentals may not include the proceeds of any state tax or license. The money in the revenue fund may only be used to (1) pay or secure the payment of the principal of and interest on the toll facilities bonds and principal of and interest on any other revenue bonds issued by authorization of the legislature to provide money to acquire, construct, and equip facilities authorized by AS 37.15.720 and 37.15.730 and to be payable out of the revenue fund; (2) pay the normal and necessary costs of maintaining and operating the facilities acquired, constructed, or equipped under AS 37.15.610 - 37.15.760; (3) pay the costs of renewals, replacements, and extraordinary repairs to facilities acquired, constructed, or equipped under AS 37.15.610 - 37.15.760; (4) redeem before their fixed maturities any and all revenue bonds issued for the purpose of acquiring, constructing, and equipping facilities authorized by AS 37.15.720 and 37.15.730; (5) provide money to acquire, construct, and equip necessary additions and improvements to facilities authorized by AS 37.15.720 and 37.15.730; and (6) provide money to pay any and all other costs relating to the ownership, use, and operation of the facilities. (b) The investment of money in the revenue fund may be made as the committee determines. The interest earned upon or any profits derived from the sale of an investment under this subsection shall be deposited in the revenue fund.
AK Stat § 37.15.640 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.640. Bond redemption fund.

The toll facilities revenue bond redemption fund is established for deposit in trust of money for paying and securing the payment of principal of and interest and redemption premium, if any, on bonds and is set apart from all other money of the state. The committee, on behalf of the state, shall obligate the state to set aside and pay into the bond redemption fund from the revenue fund an amount of money sufficient to pay the principal of and interest and redemption premium, if any, on the bonds as the payments become due and, if the committee considers it necessary, to set aside and maintain a reserve for this purpose. The bond redemption fund is drawn upon for the purpose of paying the principal of and interest and redemption premium, if any, on the bonds, and the bonds do not constitute a general obligation of the state.
AK Stat § 37.15.660 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.660. Bond resolution.

The committee is authorized and directed to adopt the bond resolution and prepare all other documents and proceedings necessary for the issuance, sale, and delivery of the bonds or any part or series of them. The bond resolution shall fix the principal amount, denomination, date, maturities, place or places of payment, rights of redemption, if any, terms, form, conditions, and covenants of the bonds or each series of them. The committee shall also determine and provide for the date and manner of sale of the bonds, and shall provide whether the notice of sale is to be published elsewhere in addition to the publication required by AS 37.15.650.
AK Stat § 37.15.670 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.670. Enforcement by holder.

The holder of any bonds or the trustee for the holders of the bonds or any series of them, may, by appropriate proceedings in the courts of record of the state, compel the transfer, setting aside, and payment of money and the enforcement of all of the terms, conditions, and covenants as required and provided in AS 37.15.610 - 37.15.760 and in the bond resolution.
AK Stat § 37.15.680 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.680. Amounts required for payments.

The committee shall, before December 31 of each year, commencing with the year in which the bonds are issued, certify to the commissioner of revenue and the commissioner of transportation and public facilities the amounts required in the next ensuing calendar year by a bond resolution to be paid out of the revenue fund into the bond redemption fund and to be paid into and maintained in any reserve fund or account or any other fund or account created by a bond resolution. The committee shall also certify to the commissioners the last date upon which payments may be made.
AK Stat § 37.15.690 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.690. Bond negotiability.

The bonds and the coupons attached to them are fully negotiable instruments under the laws of the state.
AK Stat § 37.15.700 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.700. Refunding.

(a) The bonds or any part of them may be refunded at or before their maturity by the issuance of refunding revenue bonds of the state if in the opinion of the committee refunding is advantageous to and in the best interest of the state and its inhabitants. (b) The issuance of refunding bonds need not be authorized by an act of the legislature, and the committee shall adopt the resolution and prepare all other documents and proceedings necessary for the issuance, exchange or sale, and delivery of the bonds. All provisions of AS 37.15.610 - 37.15.760 applicable to revenue bonds are applicable to the refunding bonds and to the issuance, sale, or exchange of the bonds, except as otherwise provided in this section. (c) Refunding bonds may be issued in a principal amount sufficient to provide money for the payment of all bonds to be refunded by them, and, in addition, for the payment of all expenses incident to the calling, retiring, or paying of the outstanding bonds, and the issuance of the refunding bonds. These expenses include the difference in amount between the par value of the refunding bonds and any amount less than par for which the refunding bonds are sold, any amount necessary to be made available for the payment of interest on the refunding bonds from the date of sale of them to the date of payment of the bonds to be refunded or to the date upon which the bonds to be refunded will be paid under the call of the bonds or agreement with the holders of them, and the premium, if any, necessary to be paid in order to call or retire the outstanding bonds and the interest accruing on the outstanding bonds to the date of the call or retirement.
AK Stat § 37.15.710 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.710. Bonds as legal investments.

Toll facilities bonds are legal investments for all banks, trust companies, savings banks, savings and loan associations, and other persons carrying on a banking business, all insurance companies and other persons carrying on an insurance business, and all executors, administrators, trustees, and other fiduciaries. The bonds may be accepted as security for deposits of all money of the state and its political subdivisions.
AK Stat § 37.15.720 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.720. State toll facilities.

The state is authorized to acquire, construct, equip, and maintain toll bridges, tunnels, highways, roads, crossings, and causeways found to be necessary by the commissioner of transportation and public facilities.
AK Stat § 37.15.730 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.730. Review of toll facility projects.

A toll facility may be financed under AS 37.15.610 - 37.15.760 if the following conditions are met for that toll facility: (1) the department submits to the governor and the legislature a feasibility study that finds that the toll facility is financially feasible and able to produce revenue adequate to repay the bonds with which it is financed; (2) if financing in addition to revenue bonds is required to finance the toll facility, the department submits to the governor and legislature a finance plan that includes an estimate of the total cost of the toll facility and a description of the sources of money that will be used to finance the total cost of the toll facility; and (3) the office of management and budget reviews the feasibility study and the finance plan, if required, and reports its findings and recommendations to the governor and legislature not later than 90 days after the study and plan are received by the office.
AK Stat § 37.15.740 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.740. Toll facility charges.

The commissioner of transportation and public facilities shall fix and collect the fees, charges, tolls, and rentals derived by the state from the ownership, lease, use, and operation of the facilities authorized by AS 37.15.720 and 37.15.730 and improvements of the facilities as will provide revenue sufficient to comply with all of the covenants of the bond resolution.
AK Stat § 37.15.750 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.750. Statutory construction.

AS 37.15.610 - 37.15.760 shall be liberally construed in order to carry out the purposes for which the provisions were enacted, and all existing laws in conflict with AS 37.15.610 - 37.15.760 are superseded as necessary to accomplish the purposes of AS 37.15.610 - 37.15.760.
AK Stat § 37.15.760 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 6. Toll Facilities Revenue Bonds.|Sec. 37.15.760. Definitions.

In AS 37.15.610 - 37.15.760, unless the context requires otherwise, (1) “bond redemption fund” means the toll facilities revenue bond redemption fund created by AS 37.15.640, including any accounts that are created in that fund after October 4, 1984; (2) “bond resolution” means the resolution authorizing the issuance of bonds, adopted by the committee under AS 37.15.660; (3) “bonds” means the toll facilities revenue bonds authorized by AS 37.15.610 - 37.15.760; (4) “committee” means the state bond committee created by AS 37.15.110, or any other committee, body, department, or officer of the state that or who succeeds to the rights, powers, duties, and obligations of the state bond committee by act of the legislature; (5) “construction fund” means the toll facilities construction fund created by AS 37.15.620; (6) “revenue fund” means the toll facilities revenue fund created by AS 37.15.630; (7) “toll facilities” means highways, roads, bridges, tunnels, crossings, and causeways upon which tolls, charges, rentals, or other user fees are placed by the commissioner of transportation and public facilities.
AK Stat § 37.15.800 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 7. Private Activity Bonds.|Sec. 37.15.800. Tax-exempt bonds and tax credits.

(a) As authorized under 26 U.S.C. 146(e), the state bond committee shall allocate the private activity bond volume limit for the state. Each year at least 25 percent of the limit shall be allocated to municipalities. If the committee determines that a portion of the limit allocated to municipalities will not be used by a municipality during that year, the committee may reallocate that portion. (b) The committee may make a carry-forward election under 26 U.S.C. 146(f) with respect to all or a portion of the private activity bond volume limit, including allocations that lapse under (c) or (d) of this section. (c) An amount allocated under (a) of this section lapses on December 30 of the year in which the allocation was made unless (1) the entity that received the allocation uses it before that date; or (2) the amount allocated is the subject of a carry-forward election under 26 U.S.C. 146(f). (d) The committee may adopt regulations relating to the lapsing of amounts under (c) of this section. Regulations adopted under this subsection may establish times when allocated amounts will lapse in addition to the time provided in (c) of this section. (e) The committee shall allocate tax credit limits and tax-exempt bond limits for the state in accordance with requirements imposed by federal law in connection with the tax credits and tax-exempt bonds. This subsection does not apply to low-income housing tax credits, qualified veterans' mortgage bonds under applicable provisions of 26 U.S.C. (Internal Revenue Code), or private activity bonds. (f) In this section, (1) “private activity bond” means a bond described in 26 U.S.C. 141; (2) “private activity bond volume limit” means the maximum amount of private activity bonds that may be issued under 26 U.S.C. 146 during a calendar year in the state by all issuers, including the state, municipalities in the state, and public corporations that are agencies of either the state or a municipality in the state.
AK Stat § 37.15.900 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.900. Bond authorization.

(a) For purposes of financing prepayment of all or a portion of a governmental employer's share of unfunded accrued actuarial liability of retirement systems, including the costs of issuance and administration, the issuance and sale of bonds of the state by the committee is authorized as provided in this section and AS 37.15.903 - 37.15.955, but only after submitting a proposal to the Legislative Budget and Audit Committee under (e) of this section and if the state bond rating is the equivalent of AA- or better. The net proceeds of the sale of the bonds remaining after payment of costs of issuance and administration shall be transferred to the commissioner of administration for the account of the governmental employer whose share of unfunded accrued actuarial liability is to be prepaid for application to that liability. Accrued interest paid on the bonds shall be paid into the pension obligation bond redemption fund.  (b) The total unpaid principal amount of bonds, including refunding bonds, but excluding refunded bonds, is limited as provided in AS 37.15.903. The bonds do not constitute a general obligation of the state. Authorization by the voters of the state or the legislature is not required.  (c) The committee may enter into agreements with other state agencies as necessary or convenient to implement this section and AS 37.15.903 - 37.15.955.  (d) The committee may contract for the services of underwriters, paying agents, trustees, bond printers, rating agencies, bond insurance, credit enhancement providers, accountants, financial advisors, and bond counsel, and for other services as are necessary to accomplish the bond issuance and sale. (e) Before the issuance and sale of bonds under this section, the committee shall submit a proposal to the Legislative Budget and Audit Committee for review, and 45 days shall elapse before bonds are issued and sold, unless the Legislative Budget and Audit Committee earlier recommends that the committee proceed with the issuance. Should the Legislative Budget and Audit Committee recommend within the 45-day period that the committee not proceed with the issuance and sale of bonds, the committee shall again review the proposal, and, if the committee decides to issue and sell the bonds, the committee shall provide the Legislative Budget and Audit Committee with a statement of the committee's reasons for doing so before issuance under this section.
AK Stat § 37.15.903 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.903. Pension obligation bond limit.

The total unpaid principal amount of bonds, including refunding bonds, but excluding refunded bonds, issued by all state entities added together, for the purposes of financing prepayment of all or a portion of a governmental employer's share of unfunded accrued liability of retirement systems, may not exceed $1,500,000,000 or a funding ratio of actuarial assets to accrued liability greater than 85 percent, whichever is less.
AK Stat § 37.15.905 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.905. Bond redemption fund.

(a) There is established a special fund of the state, known as the pension obligation bond redemption fund, which is a trust fund for paying and securing the payment of the principal of and interest and redemption premium, if any, on the bonds, and which shall be at all times completely segregated and set apart from all other funds of the state. The bond redemption fund shall be drawn on only for the purpose of paying the principal of and interest and redemption premium, if any, on the bonds, together with related trustee fees, if any. (b) Money in the bond redemption fund may be invested in the same manner and on the same conditions as permitted for investing of money belonging to the state or held in the treasury under AS 37.10.070; however, the committee may agree with the bondholders to further limit these investments. Earnings on investments must be retained in the bond redemption fund. (c) Separate accounts may be created in the bond redemption fund for the purposes of paying and securing the bonds. The accounts may be combined for purposes of investment and for financial support to achieve the purposes of AS 37.15.910(c).
AK Stat § 37.15.910 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.910. Bond terms.

(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 committee determines. The bonds, or each series of them, shall be sold at the price and on the terms, conditions, and covenants set by the committee after considering market conditions. Interest rates may be fixed or variable. (b) The bonds mature at the time or times fixed by the committee. The bonds may be subject to redemption before their fixed maturities, as determined by the committee, with or without a premium or premiums. The bonds may be in denominations determined by the committee; 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 committee; must be signed on behalf of the state in the manner provided by the committee; 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 committee. (c) If the committee finds it reasonably necessary, the committee 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 redemption fund or for duties with respect to the enforcement, authentication, delivery, payment, and registration of the bonds as the committee may determine. The committee 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 committee 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 committee, as expressed in a bond resolution, are final and are conclusively considered to comply with the requirements of AS 37.15.900 - 37.15.955.
AK Stat § 37.15.915 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.915. Bond resolution.

The committee shall authorize the issuance of bonds by adopting a resolution and shall prepare all other documents and proceedings necessary for the issuance, sale, and delivery of the bonds or any part or series of them. The bond resolution must fix the principal amount, denominations, date, maturities, manner of sale, place or places of payment, rights of redemption, if any, terms, form, conditions, and covenants of the bonds or each series of them.
AK Stat § 37.15.920 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.920. Enforcement by bond owner.

(a) The owner or owners of not less than 10 percent of the aggregate principal amount of any series or issue of bonds or the trustee for the owners of the bonds or any series of them may, by appropriate proceedings in state court, require and compel the transfer, setting aside, and payment of money and the enforcement of all of the terms, conditions, and covenants as required and provided in AS 37.15.900 - 37.15.955, as appropriate, and the bond resolution. (b) A proceeding under (a) of this section may be commenced and conducted only in the Superior Court for the State of Alaska, First Judicial District at Juneau.
AK Stat § 37.15.925 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.925. Amounts required for payments.

The committee shall, before June 30 of each year or from time to time within the year, as appropriate, commencing with the year in which the bonds are issued, certify to the commissioner of revenue and the commissioner of administration the amounts required in the current fiscal year and the next ensuing fiscal year by the bond resolution or resolutions to be paid from the general fund into the bond redemption fund and to be paid into and maintained in any reserve fund or account or other fund or account created by the bond resolution or resolutions, and shall also certify to the commissioners the last date or dates on which payments may be made.
AK Stat § 37.15.930 (2021)
2021 Alaska Statutes|Title 37. Public Finance|Chapter 15. Bonding|Article 8. Pension Obligation Bonds.|Sec. 37.15.930. Purposes and sufficiency of revenue.

The proceeds of bonds may be used for the purposes described in AS 37.15.900(a), as appropriate. Bonds may not be issued unless the committee first finds that the actuarially assumed rate of return on the funds managed by the Alaska Retirement Management Board is projected to exceed the true interest cost to be paid on the bonds by at least 1.5 percent annually.