Chapter 14.13
LEADER CREEK SEWER SYSTEM DEBT SERVICE PROGRAM
Sections:
14.13.030 Debt service dedicated fund.
14.13.010 Purpose.
The purpose of the ordinance codified in this chapter is to enable the borough to conform to the requirements of Alaska Statute 46.03.032 and regulations promulgated thereunder with regard to borrowing and repaying funds for constructing the proposed Leader Creek Sewer System Project. (Ord. 94-2 (part), 1994).
14.13.020 Authorization.
The borough is authorized to borrow funds from the United States of America and the state of Alaska in conformance with Alaska Statute 46.03.032 and regulations promulgated thereunder, Alaska Statute 20.47.440 (incorporated herein by reference) and Section 2.04.010(13) of this code for purposes of construction of the Leader Creek Sewer System Project. (Ord. 94-2 (part), 1994).
14.13.030 Debt service dedicated fund.
A. There is established distinct from any other money or fund in the treasury of the borough a separate fund to be known and administered as the "Leader Creek Sewer System Debt Service Dedicated Fund."
B. The Leader Creek Sewer System Debt Service Dedicated Fund shall consist of money annually appropriated to the fund by the assembly of the borough from revenue annually received from the state of Alaska under authority of Alaska Statute 43.75.130. Each such annual appropriation shall consist of no less than the minimum annual repayment amount required by the terms of the loan, or each loan, obtained under Section 14.13.020 of this chapter. (Ord. 94-2 (part), 1994).