BP 7310Methods of Financing

Growth, safety considerations and educational program changes may require the construction of new facilities and the reconstruction of existing facilities. The purchase of school sites and the construction of buildings may be financed by any legally provided means which the district is qualified to employ, including state-financed assistance.
Note: 4 AAC 31.060 requires districts using state aid granted under AS 14.11.020 to comply with all pertinent laws and regulations related to the construction of a public school facility.

The superintendent shall determine the anticipated share of the school district's participation in the cost of any proposed school construction or major maintenance project, and shall evaluate available means of making the local contribution required by law. These alternatives may include the sale of capital bonds, the use of available federal funds or funds from other sources and, where applicable, locally contributed labor, material or equipment.
If the district is unable to provide the required participatory share through federal, local or other funding sources, and is unable to satisfy it participatory share through local contributions, and it can be demonstrated that the required participatory share will jeopardize receipt of federal assistance, the superintendent may request in writing from the Alaska Department of Education a full or partial waiver of the local contribution.
Legal Reference:

ALASKA STATUTES
14.11.005 - 14.11.135 Construction, rehabilitation, and improvement of school and education-related facilities.
43.50.010 - 43.50.180 Cigarette Tax Act
ALASKA ADMINISTRATIVE CODE
4 AAC 31.010 - 4 AAC 31.090 School facility planning and construction
4 AAC 36.010 Cigarette tax distribution
4 AAC 57.200 - 4 AAC 57.300 Library construction grants