Section 3.103.900. Definitions.

In this chapter, unless the context requires otherwise,   
		(1) "appraised value" means any valuation methodology acceptable to the authority,  
		(2) "Arctic" has the meaning given in AS 44.88.900;  
		(3) "Arctic infrastructure development" has the meaning given in AS 44.88.900;  
		(4) "Arctic infrastructure development program and fund" means the Arctic infrastructure development program and fund established by AS 44.88.800 - 44.88.840;  
		(5) "authority" means the Alaska Industrial Development and Export Authority;  
		(6) "board" means the board of the Alaska Industrial Development and Export Authority;  
		(7) "capital costs" means the one-time costs associated with the acquisition or construction of an Arctic infrastructure development, including the price of purchased assets such as land, equipment, or other materials incorporated into the facility, the cost of site preparation, permits, construction of the facility and designing and planning the construction, and the cost of financing, including legal, financial, underwriting, insurance, and other transactional expenses as may necessarily be incurred; capital costs may also include interest payments financed during the construction and start-up period of the Arctic infrastructure development;  
		(8) "executive director" means the executive director of the Alaska Industrial Development and Export Authority;  
		(9) "financing" means either a loan or a guarantee of a loan or bond or a financing arrangement subject to the limitations on financing in AS 44.88.840;  
		(10) "guarantee" means an agreement pledging assets of the Arctic infrastructure development program fund to pay the regularly scheduled principal and interest due on a loan or bond made for an Arctic infrastructure development, subject to conditions set out in the guarantee;  
		(11) "loan" means an extension of credit by the authority or a third-party lender to an applicant or for an Arctic infrastructure development;  
		(12) "mortgage" means a mortgage, deed of trust, or other security instrument encumbering real property or an interest in real property;  
		(13) "working day" does not include a Saturday, Sunday, or state holiday.  

Authorities

44.88.085;44.88.800;44.88.810;44.88.820;44.88.830;44.88.840;44.88.900

Notes

Authority

AS 44.88.085 AS 44.88.800 AS 44.88.810 AS 44.88.820 AS 44.88.830 AS 44.88.840 AS 44.88.900 Editor's note: Even though the adoption of 3 AAC 103.900 was effective 12/3/2015, it was not published until Register 218, July 2016. ________________________

History

Eff. 12/3/2015, Register 218

References

3.103.900