Section 18.56.200. Annual report.

   (a) The corporation shall prepare and transmit annually a report accounting to the governor for the efficient discharge of all responsibility assigned by law or by directive to the corporation. The corporation shall notify the legislature that the report is available.
   (b) By January 10 of each year, the board shall publish a report of the corporation for distribution. The board shall notify the governor, legislature, and the public that the report is available. The report shall be written in easily understandable language. The report must include a financial statement audited by an independent outside auditor, a statement of corporation investments in mortgage loans under this chapter, including an estimate of market value of the mortgage loans, a comparison of the corporation performance with the goals of the corporation, and the levels of bonding and investment activities anticipated in the previous year's report under (c) of this section, and any other information the board believes would be of interest to the governor, the legislature, and the public. The annual income statement and balance sheet of the corporation shall be published in at least one newspaper in each judicial district. The board may also publish other reports it considers desirable to carry out its purpose.
   (c) The corporation shall include in its annual report under (b) of this section an estimate of the investment activity of the corporation in mortgage loans under this chapter for the following 12-month period and an estimate of the amount of bonds to be issued for the investments.
   (d) The corporation shall include in its annual report under (b) of this section
        (1) a report of its activities under
             (A) AS 18.55.010 - 18.55.290 (Housing Project and Public Building Assistance Act);
             (B) AS 18.55.300 - 18.55.470 (programs of moderate income and rental housing);
             (C) AS 18.55.480 - 18.55.960 (Slum Clearance and Redevelopment Act);
        (2) a summary of its efforts to implement a program to extend the operation of the programs authorized under AS 18.55 and this chapter to rural communities;
        (3) an evaluation of the corporation's ability to fulfill the objectives of AS 18.56.010(b) - (e); and
        (4) the amount of interest rate, building, and other subsidies for each program of the corporation for which subsidies are given.

Notes

History

(Sec. 1 ch 107 SLA 1971; am Sec. 30 ch 106 SLA 1980; am Sec. 12, 13 ch 115 SLA 1981; am Sec. 95 ch 4 FSSLA 1992; am Sec. 29, 30 ch 21 SLA 1995)