(a) The enabling ordinance by which a port authority is created must provide for the manner by which a port authority may be dissolved.
(b) If an authority ceases to exist, its assets shall be distributed to the municipalities that participated in the authority in proportion to the difference between their contributions to the authority and any outstanding debt or obligation of that municipality to the authority, provided that any obligation to bondholders then outstanding shall first be satisfied in full.
Structure Alaska Statutes
Title 29. Municipal Government
Chapter 35. Municipal Powers and Duties
Sec. 29.35.600. Purpose of authorities.
Sec. 29.35.605. Establishment of port authorities.
Sec. 29.35.610. Dissolution of a port authority.
Sec. 29.35.615. Municipal property.
Sec. 29.35.625. Bonds of a port authority; superior court jurisdiction.
Sec. 29.35.630. Bonds eligible for investment.
Sec. 29.35.635. Validity of pledge.
Sec. 29.35.640. Credit of state or a municipality not pledged.
Sec. 29.35.645. Pledges of the state and municipalities.
Sec. 29.35.650. Limitation of liability.
Sec. 29.35.655. Limitation on personal liability.
Sec. 29.35.660. Fidelity bond.
Sec. 29.35.665. No taxing authority.
Sec. 29.35.670. Exemption from taxation.
Sec. 29.35.675. Development plan.
Sec. 29.35.680. Administration of port authorities; board.
Sec. 29.35.690. Bylaws and regulations.
Sec. 29.35.695. Authority subject to public records and open meetings laws.
Sec. 29.35.700. Annual report.
Sec. 29.35.720. Conflicting laws inapplicable.
Sec. 29.35.722. Ownership or operation of certain state facilities prohibited.