Section 15 AAC 118.040 - Bond counsel(a) The authority will retain the services of a nationally recognized bond counsel for either a specified term or on an issue-by-issue basis.(b) Before issuance of the bonds, the authority must receive an opinion of a nationally recognized bond counsel, who must be an active member in good standing of any state bar, that the interest in the bonds of the authority issued on behalf of an applicant will be tax exempt under the provisions of Section 103 of the Internal Revenue Code (26 USC § 103).Eff. 9/28/79, Register 71; am 6/15/80, Register 74Authority:AS 18.26.040(c)
AS 18.26.050(4)