4 AAC 31.075 - Withdrawal of project approval
(a) The approval
granted under
4
AAC 31.060 that authorizes a project for debt
retirement under
AS
14.11.100 expires five years after the
approval is given unless a local bond election that meets the requirements of
AS
14.11.100(j) occurs during
that period and authorizes the sale of bonds to finance the project.
(b) If, after the department approves the
project for debt retirement and local voters approve the project in a bond
election required by
AS
14.11.100(j), no activity,
as evidenced by annual project summaries that meet the requirements of
4
AAC 31.060(d), occurs during a fiscal
year, the department will withdraw its approval of the project.
(c) If, during the life of the project, the
voters of a municipality by referendum choose to cancel a project that had
previously been approved by the department, and by the local electorate in an
election meeting the requirements of
AS
14.11.100(j), the department
will withdraw its approval of the project, effective on the date of the
referendum.
(d) The withdrawal of
approval of a project under (a) or (b) of this section is effective only if the
department first gives notice and allows the municipality not less than 30 days
to give adequate assurances that the appropriate action will be taken to move
the project toward completion. The department will determine whether the
assurances are adequate and will, in its discretion, extend its approval in
writing for a period of not less than 180 days to enable the school district to
make progress on the project under the conditions the department considers
appropriate. If the department determines that adequate assurances have not
been given, it will withdraw its approval of the project. Nothing in this
section requires or prescribes the withdrawal of project approval for a school
facility constructed by phased stages. A school district dissatisfied with a
determination made under this subsection may appeal the decision under
4
AAC 40.010 -
4
AAC 40.050.
(e) If the approval of a project is withdrawn
under (b) or (c) of this section, and bonds eligible for debt retirement have
been sold and debt retirement payments have been made, the department will
direct the school district to prepare a project audit that meets the
requirements of
4
AAC 31.062(f). The department will
determine the amount of any additional money to which the school district is
entitled or the amount of money that the state is entitled to recover from the
municipality. A school district dissatisfied with the determination may appeal
the determination under
4
AAC 40.010 -
4
AAC 40.050.
(f) When all eligible debt-retirement funds
authorized under
AS
14.11.100 have been allocated, all previous
project approvals are automatically withdrawn. If additional funds become
available, a school district shall reapply and its projects will be
re-evaluated.
Notes
Authority:AS 14.07.020
AS 14.07.060
AS 14.11.100
AS 14.11.132
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