Statutes, codes, and regulations
Alaska Administrative Code
Title 4 - Education and Early DevelopmentChapter 31 - School Facility Planning and Construction
Article 1 - Planning and Construction
Section 4 AAC 31.064 - Redirection of bond proceeds

4 Alaska Admin. Code § 31.064

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Current through September 25, 2024
Section 4 AAC 31.064 - Redirection of bond proceeds

If a municipality has bond proceeds remaining after termination of all design, construction, and equipment contracts for a project approved by the department for debt retirement under 4 AAC 31.060 and by local voters under AS 14.11.100(j), and the municipality seeks to construct a project different from the one approved by the department, the municipality may only receive reimbursement for the project if the new project is approved by the department and

(1) the bond proposition originally approved by the local voters authorized the use of any excess money for school capital projects such as the new project; or
(2) the municipality meets the requirements of AS 14.11.100(j), including the requirement for a municipal election to approve the new use of the money.

4 AAC 31.064

Eff. 5/30/90, Register 114; am 11/28/2019, Register 232, January 2020

Authority:AS 14.07.060

AS 14.11.100

AS 14.11.132