15 AAC 118.040 - Bond counsel
(a) The authority will retain the services of
a nationally recognized bond counsel for either a specified term or on an
issue-by-issue basis.
(b) Before
issuance of the bonds, the authority must receive an opinion of a nationally
recognized bond counsel, who must be an active member in good standing of any
state bar, that the interest in the bonds of the authority issued on behalf of
an applicant will be tax exempt under the provisions of Section 103 of the
Internal Revenue Code ( 26 USC ยง 103 ).
Notes
Authority:AS 18.26.040(c)
AS 18.26.050(4)
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