If the commissioner approves an application and proposed project plan under AS 43.82.140, the commissioner may develop a contract that may include
(1) terms concerning periodic payment in lieu of one or more taxes as provided in AS 43.82.210;
(2) terms developed under AS 43.82.220 relating to
(A) timing and notice of the state's right to take royalty in kind or in value; and
(B) royalty value;
(3) terms regarding the hiring of Alaska residents and contracting with Alaska businesses under AS 43.82.230;
(4) terms regarding periodic payment to, or an equity or other interest in a project for, municipalities under AS 43.82.500;
(5) terms regarding arbitration or alternative dispute resolution procedures;
(6) terms and conditions for administrative termination of a contract under AS 43.82.445; and
(7) other terms or conditions that are
(A) necessary to further the purposes of this chapter; or
(B) in the best interests of the state.
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