(a) There is created in the Department of Commerce, Community, and Economic Development a historical district revolving loan fund. All principal and interest payments, and money chargeable to principal or interest that is collected through liquidation by foreclosure or other process on loans made under this chapter, shall be paid into the historical district revolving loan fund.
(b) Money in the fund may be used by the legislature to make appropriations for costs of administering this chapter.
(c) On June 30 of each fiscal year the unexpended and unobligated cash balance of the fund that is attributable to loans owned by the fund lapses into the general fund.
Structure Alaska Statutes
Chapter 98. Historical District Loan Act
Sec. 45.98.010. Creation of historical district revolving loan fund.
Sec. 45.98.015. Special account established.
Sec. 45.98.020. Historical district loans.
Sec. 45.98.030. Powers of the department.
Sec. 45.98.040. Limitations on loans.
Sec. 45.98.050. Sale or transfer of mortgages and notes.
Sec. 45.98.055. Disposal of property acquired by default or foreclosure.