(a) Before a general or special election in which a bond issue is offered for ratification, the state bond committee shall publish a notice of existing state bonded indebtedness at least once a week for three consecutive weeks in a newspaper of general circulation in each of the four judicial districts of the state. The first notice shall be published at least 20 days before the date of the election. A notice must contain
(1) the current total bonded indebtedness of the state;
(2) the cost of the debt service on the current indebtedness;
(3) the projected amount of state general obligation debt principal that could be issued and paid for from the Alaska debt retirement fund;
(4) the estimated debt service requirements for the bond issue offered for ratification; and
(5) whether the bond issue offered for ratification will be repaid with amounts from the Alaska debt retirement fund.
(b) Neither the failure to publish the notice of existing state bonded indebtedness nor a defect in the publication affects the validity of the bond issue offered for ratification or of a general or special election in which a bond issue is offered for ratification.
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