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STATE v. FIRST NAT. BANK OF KETCHIKAN

No. 5371.

629 P.2d 78 (1981)

STATE of Alaska, Appellant, v. FIRST NATIONAL BANK OF KETCHIKAN, Appellee.

Supreme Court of Alaska.

June 5, 1981.

Attorney(s) appearing for the Case

William G. Mellow, Asst. Atty. Gen. and Wilson L. Condon, Atty. Gen., Juneau, for appellant.

Mary E. Guss and Clifford H. Smith, Ziegler, Cloudy, Smith, King & Brown, Ketchikan, for appellee.

Before RABINOWITZ, C.J., CONNOR, BURKE and MATTHEWS, JJ., and BLAIR, Superior Court Judge.

OPINION

RABINOWITZ, Chief Justice.

The State of Alaska, through the Department of Commerce and Economic Development, provides low interest loans to small businesses that meet certain specified eligibility requirements. AS 45.95.010-.080. In the spring of 1978 Carl E. Jones, owner of a logging business known as Jones & Sons, Inc., applied for a loan under this program. On November 22, 1978, the State approved a loan in the amount of $150,000 to Jones...

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