(a) If a municipality levies and collects property taxes, the governing body shall provide the following notice:
“NOTICE TO TAXPAYER
For the current fiscal year the (city)(borough) has been allocated the following amount of state aid for school and municipal purposes under the applicable financial assistance Acts:
PUBLIC SCHOOL FUNDING
PROGRAM (AS 14.17) $
STATE AID FOR RETIREMENT OF SCHOOL
CONSTRUCTION DEBT (AS 14.11.100)$
COMMUNITY REVENUE SHARING PROGRAM
(AS 29.60.850 - 29.60.879)$
TOTAL AID$
The millage equivalent of this state aid, based on the dollar value of a mill in the municipality during the current assessment year and for the preceding assessment year, is:
MILLAGE EQUIVALENT
PREVIOUS YEARTHIS YEAR
PUBLIC SCHOOL FUNDING
PROGRAM ASSISTANCEMILLSMILLS
STATE AID FOR RETIREMENT OF
SCHOOL CONSTRUCTION DEBTMILLSMILLS
COMMUNITY REVENUE SHARING
PROGRAMMILLSMILLS
TOTAL MILLAGE EQUIVALENTMILLSMILLS”
Notice shall be provided by
(1) furnishing a copy of the notice with tax statements mailed for the fiscal year for which aid is received; or
(2) publishing in a newspaper of general circulation in the municipality a copy of the notice once each week for a period of three successive weeks, with publication to occur not later than 45 days after the final adoption of the municipality's budget.
(b) Compliance with the provisions of this section is a prerequisite to receipt of community assistance under AS 29.60.850 - 29.60.879. The department shall withhold annual allocations under those sections until municipal officials demonstrate that the requirements of this section have been met.