The board is responsible for the management of the corporation but shall delegate certain powers and duties to the chief executive officer in accordance with Alaska Stat. § 42.40.120. In managing the corporation, the board shall

(1) be responsible for the management of the financial and legal obligations of the Alaska Railroad;
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Terms Used In Alaska Statutes 42.40.100

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • board: means the board of directors of the Alaska Railroad Corporation. See Alaska Statutes 42.40.980
  • bonds: means bonds, bond anticipation notes, notes, refunding bonds, or other obligations. See Alaska Statutes 42.40.980
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • corporation: means the Alaska Railroad Corporation. See Alaska Statutes 42.40.980
  • executive officer: means the corporation's chief executive officer, assistant chief executive officer, assistant to the chief executive officer, chief of administration, superintendent of transportation, manager of marketing and sales, chief engineer, chief mechanical officer, manager of industrial development and real estate, manager of budget and accounting, manager of planning, manager of personnel, manager of supply and procurement, chief of security, manager of operating rules, manager of data processing, manager of strategy, manager of operations planning, manager of supply, manager of procurement, manager of safety, manager of administrative procedure, chief counsel, or, if so designated by the board, any employee who fulfills these management functions under a different title or who exercises a similar or comparable level of responsibility or supervision. See Alaska Statutes 42.40.980
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • land: means any interest in real property, including tide and submerged land, and any right appurtenant to the interest. See Alaska Statutes 42.40.980
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(2) operate the Alaska Railroad as a common carrier subject to the jurisdiction of the United States Surface Transportation Board consistent with 45 U.S.C. § 1207;
(3) generally manage the corporation on a self-sustaining basis;
(4) apply to the legislature for an appropriation with the concurrence of the governor to be used to provide a particular service that is not otherwise self-sustaining if a subsidy is required to maintain that service;
(5) provide for safe, efficient, and economical transportation to meet the overall needs of the state;
(6) raise needed capital by issuing bonds of the corporation upon approval by the legislature while ensuring that borrowing by the corporation does not directly or indirectly endanger the state’s own borrowing capacity;
(7) review all state and other land disposal proposals to aid in planning for future development or expansion of transportation services;
(8) ensure that the procurement procedures of the corporation meet accepted railroad industry standards;
(9) ensure that the accounting procedures of the corporation meet generally accepted accounting principles consistent with industry standards for comparable railroads.
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