When the state bond committee considers it in the best interests of the state, it may borrow money in anticipation of the sale of general obligation and revenue bonds if money to be derived from the sale of the bonds has been appropriated by the legislature and
(1) in the case of revenue bonds, the bonds to be sold have been authorized by law; or
(2) in the case of general obligation bonds, the bonds to be sold have been
(A) authorized by law and ratified by a majority vote of the qualified voters of the state who vote on the question; or
(B) authorized by law for the purpose of meeting natural disasters, repelling invasion, suppressing insurrection, or defending the state in war.
Structure Alaska Statutes
Article 3. Bond Anticipation Notes.
Sec. 37.15.300. Borrowing in anticipation of sale of bonds permitted.
Sec. 37.15.310. Issuance of notes.
Sec. 37.15.330. Repayment of notes.
Sec. 37.15.340. Security for repayment of general obligation bonds.
Sec. 37.15.350. Security for repayment of revenue bonds.
Sec. 37.15.360. Limitation on issuance of notes.
Sec. 37.15.370. Use of proceeds from sale of notes.