Enrolled SB 51: 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.
00Enrolled SB 51 01 Relating to revenue bonds issued by the Alaska Municipal Bond Bank Authority and the total 02 amount of bonds and notes outstanding of that authority; and providing for an effective date. 03 _______________ 04 * Section 1. AS 44.85.100(b) is amended to read: 05 (b) The bond bank authority shall include in the report required by (a) of this 06 section an estimate of the amount of revenue bonds of the bond bank authority to be 07 issued during the fiscal year following the fiscal year in which the report is submitted. 08 The bond bank authority may not issue revenue bonds, other than refunding bonds, in 09 excess of $75,000,000 [$50,000,000] during any fiscal year beginning after June 30, 10 1981, unless the legislature, by law, approves the estimate required by this subsection 11 for that fiscal year. 12 * Sec. 2. AS 44.85.180(c) is amended to read: 13 (c) Notwithstanding the provisions of (a) and (b) of this section, the total 14 amount of bond bank authority bonds and notes outstanding at any one time, except 15 bonds or notes issued to fund or refund bonds or notes, may not exceed $500,000,000
01 [$300,000,000]. 02 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).