(a) A municipality may not use a grant made under Alaska Stat. § 29.60.510 to reduce current municipal tax rates or to retire its existing bonded indebtedness.
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Terms Used In Alaska Statutes 29.60.540

  • municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
(b) Money received by a municipality, village, or school district under Alaska Stat. § 29.60.500 – 29.60.599 may not be used for a capital improvement, as that term is defined in Alaska Stat. § 46.08.900.
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