(a) A municipality may not use a grant made under AS 29.60.510 to reduce current municipal tax rates or to retire its existing bonded indebtedness.
(b) Money received by a municipality, village, or school district under AS 29.60.500 - 29.60.599 may not be used for a capital improvement, as that term is defined in AS 46.08.900.
Structure Alaska Statutes
Title 29. Municipal Government
Article 3. Oil and Hazardous Substance Municipal Impact Assistance.
Sec. 29.60.500. Purpose and policy.
Sec. 29.60.510. Municipal impact grants authorized.
Sec. 29.60.520. Purposes of municipal impact grants.
Sec. 29.60.530. Criteria to evaluate grant applications.
Sec. 29.60.540. Limitations on uses of grants by municipalities and villages.