3 AAC 99.520 - Local participation and approval

(a) Before entering into an agreement to finance or develop a development project for which the authority expects to issue bonds, the authority will obtain the approval of the municipality in which the proposed project is to be located. If the development project for which the authority expects to issue bonds is located within the unorganized borough, the authority will comply with AS 44.88.174. The authority will not enter into the agreement unless the municipality in which the proposed development project is to be located conducts a public hearing on the proposed project. If the development project is located within the unorganized borough, the authority will not enter into the agreement unless the regional resource advisory council under AS 44.88.174 conducts a public hearing within the region.

(b) The authority will solicit the review and advice of either local government or the regional resource advisory council in the area within which a development project is located before

(1) entering into an agreement to finance or develop a development project for which the authority does not expect to issue bonds; or

(2) executing other contracts, agreements, resolutions, or other matters that directly concern the development, maintenance, and operation of a development project.

(c) The authority will, in its discretion, enter into joint financing arrangements with interested public and private participants with respect to developmental projects.

Notes

3 AAC 99.520

Eff. 1/11/88, Register 106; am 11/30/90, Register 118; am 12/5/2013, Register 209, April 2014; am 6/28/2018, Register 227, October 2018

Authority:AS 44.88.080

AS 44.88.085

AS 44.88.095

AS 44.88.174

AS 44.88.177