(a) The following persons may legally invest sinking funds, money, and other funds belonging to them or within their control in the investments listed in (b) of this section:
(1) all public officers, municipal corporations, political subdivisions, and public bodies;
(2) all banks, trust companies, bankers, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business;
(3) all insurance companies, insurance associations, and other persons carrying on an insurance business; and
(4) all executors, administrators, curators, trustees, and other fiduciaries.
(b) The following investments are proper investments under (a) of this section: any bonds or other obligations issued by the corporation under AS 18.55.480 - 18.55.960 or by any public housing or redevelopment authority or commission, or agency or any other public body in the United States for redevelopment purposes, when the bonds and other obligations are secured by an agreement between the issuing agency and the federal government in which the issuing agency agrees to borrow from the federal government and the federal government agrees to lend to the issuing agency, before the maturity of the bonds or other obligations, money in an amount that, together with any other money irrevocably committed to the payment of interest on the bonds or other obligations, is sufficient to pay the principal of the bonds or other obligations with interest to maturity, if, under the terms of the agreement, the money is required to be used for the purpose of paying the principal and interest on the bonds or other obligations at their maturity. The bonds and other obligations shall be authorized security for all public deposits.
(c) It is the purpose of this section to authorize any persons, political subdivisions, and officers, public or private, to use any funds owned or controlled by them for the purchase of any of the bonds or other obligations. However, nothing contained in this section with regard to legal investments shall be construed as relieving any person of any duty of exercising reasonable care in selecting securities.
Structure Alaska Statutes
Title 18. Health, Safety, Housing, Human Rights, and Public Defender
Chapter 55. Housing, Public Buildings, Urban Renewal, and Regional Housing Authorities
Article 3. Slum Clearance and Redevelopment Act.
Sec. 18.55.480. Findings and declaration of necessity.
Sec. 18.55.490. Legislative intent.
Sec. 18.55.510. Finding of necessity by municipality.
Sec. 18.55.520. Powers of the corporation.
Sec. 18.55.525. Neighborhood development projects.
Sec. 18.55.530. Preparation and approval of redevelopment plans.
Sec. 18.55.540. Disposal of property in redevelopment project.
Sec. 18.55.550. Eminent domain.
Sec. 18.55.560. Acquisition and development of undeveloped vacant land.
Sec. 18.55.570. Issuance of bonds and notes.
Sec. 18.55.580. Power of corporation to provide additional security for bonds.
Sec. 18.55.590. Remedies of obligee.
Sec. 18.55.600. Bonds as legal investment.
Sec. 18.55.610. Conveyance to federal government on default.
Sec. 18.55.620. Property exempt from taxes and execution.
Sec. 18.55.630. Cooperation by public bodies.
Sec. 18.55.650. Title of purchaser of project property.
Sec. 18.55.660. Additional powers of governing body.
Sec. 18.55.670. Preparation of general plan by local governing body.
Sec. 18.55.680. Urban renewal projects; definition.
Sec. 18.55.690. Urban renewal plan; definition.
Sec. 18.55.700. Powers with respect to urban renewal.
Sec. 18.55.710. Public bodies authorized to assist in urban renewal projects.
Sec. 18.55.720. Corporation may delegate functions to municipalities and public bodies.
Sec. 18.55.730. Agreements for exercising powers and granting assistance.
Sec. 18.55.740. Workable program.
Sec. 18.55.750. Municipality may repair, etc., dwellings unfit for habitation.
Sec. 18.55.760. Ordinances relating to unfit dwellings.
Sec. 18.55.770. What ordinance must include.
Sec. 18.55.780. Petition or finding that dwelling is unfit and filing of complaint.
Sec. 18.55.790. Pleadings and hearing.
Sec. 18.55.800. Rules of evidence do not control in hearings before the corporation.
Sec. 18.55.810. Findings and order.
Sec. 18.55.820. Ordinance to fix percentage of cost as reasonable.
Sec. 18.55.830. Failure of owner to comply with order.
Sec. 18.55.840. Costs of repair, etc., are a lien.
Sec. 18.55.850. Disposition of material where dwelling is removed or demolished.
Sec. 18.55.870. Manner of serving parties in interest.
Sec. 18.55.880. Injunction to prevent corporation from proceeding.
Sec. 18.55.890. Remedies provided are exclusive.
Sec. 18.55.900. Ordinance may give corporation additional powers.
Sec. 18.55.910. Municipality to prepare estimate of costs of administration.
Sec. 18.55.920. AS 18.55.750 - 18.55.930 not a limitation on municipalities.
Sec. 18.55.930. Powers of a municipality to control use and occupancy of dwellings.
Sec. 18.55.932. Urban redevelopment or urban renewal in a disaster area.
Sec. 18.55.934. State aid for an urban redevelopment or urban renewal project in a disaster area.