SB 51: "An Act relating to revenue bonds issued by the Alaska Municipal Bond Bank Authority and the total amount of bonds and notes outstanding of that authority; and providing for an effective date."
00 SENATE BILL NO. 51 01 "An Act relating to revenue bonds issued by the Alaska Municipal Bond Bank 02 Authority and the total amount of bonds and notes outstanding of that authority; and 03 providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 44.85.100(b) is amended to read: 06 (b) The bond bank authority shall include in the report required by (a) of this 07 section an estimate of the amount of revenue bonds of the bond bank authority to be 08 issued during the fiscal year following the fiscal year in which the report is submitted. 09 The bond bank authority may not issue revenue bonds, other than refunding bonds, in 10 excess of $75,000,000 [$50,000,000] during any fiscal year beginning after June 30, 11 1981, unless the legislature, by law, approves the estimate required by this subsection 12 for that fiscal year. 13 * Sec. 2. AS 44.85.180(c) is amended to read: 14 (c) Notwithstanding the provisions of (a) and (b) of this section, the total
01 amount of bond bank authority bonds and notes outstanding at any one time, except 02 bonds or notes issued to fund or refund bonds or notes, may not exceed $500,000,000 03 [$300,000,000]. 04 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).