If a municipality has bond proceeds remaining after termination of all design, construction, and equipment contracts for a project approved by the department for debt retirement under 4 AAC 31.060 and by local voters under AS 14.11.100(j), and the municipality seeks to construct a project different from the one approved by the department, the municipality may only receive reimbursement for the project if the new project is approved by the department and

1. (1) the bond proposition originally approved by the local voters authorized the use of any excess money for school capital projects such as the new project; or
2. (2) the municipality meets the requirements of AS 14.11.100(j), including the requirement for a municipal election to approve the new use of the money.

(Eff. 5/30/90, Register 114; am 11/28/2019, Register 232)

Authority: AS 14.07.060, AS 14.11.100, AS 14.11.132