Section 4 AAC 31.061 - Criteria for amounts allowed for debt retirement(a) A facility will be approved for debt retirement under AS 14.11.100 if the project meets the requirements established in 4 AAC 31.060(j) - (l) and the requirements of this section.(b) A facility to house and support the education program must meet the following criteria: (1) the facility was planned in accordance with 4 AAC 31.020 and 4 AAC 31.030(c); and(3) base square foot allowable must be used for educational purposes for at least 75 percent of the scheduled school day.(c) The department will, in its discretion, deny a request for debt retirement under AS 14.11.100 or limit its approval to the costs for that portion of a facility which complies with the provisions of this section.(d) The costs of planning, design, or construction of an otherwise approved facility are not eligible for debt retirement if they are incurred for or arise out of (1) costs of change orders, contract amendments, contractor's claims, or other modifications that enlarge the scope of a project, or that increase the total cost of the project budget above an amount that is the lesser of the amount approved by the voters at the bond election required under AS 14.11.100(j), the amount approved by the department, or the initial contract amount, except for unavoidable or unforeseeable circumstances that are not the result of imprudent management;(2) the cost of repairing or replacing items that the department determines are not essential to operation of the physical plant or not normally scheduled for routine maintenance or replacement unless the repair or replacement extends the useful life of the building and the cost exceeds $100,000; or(3) the payment of accrued interest to bond holders.Eff. 9/12/85, Register 96; am 2/8/86, Register 97; am 5/30/90, Register 114; am 9/29/90, Register 115; am 10/7/95, Register 136; am 4/17/98, Register 146; am 11/28/2019, Register 232, January 2020Authority:AS 14.07.020
AS 14.07.060
AS 14.11.020
AS 14.11.100
AS 14.11.102
AS 14.11.132