Board of Directors

The powers of the Bond Bank are vested in the Board of Directors consisting of three public members appointed by the Governor, the Commissioner of Revenue, and the Commissioner of Community and Economic Development, or their delegates.

Luke Welles - Chairperson

Mr. Welles was appointed on May 21, 2008. Mr. Welles became Vice President of Finance of the Arctic Slope Native Association, Ltd. in March 2011.  Prior to this position, Mr. Welles served as Chief Financial Officer of LifeMed Alaska, LLC which provides medivac services in Alaska.  Previously, Mr. Welles was the Chief Financial Officer for the Yukon-Kuskokwim Healthcare Corporation. He has management experience in healthcare, civil construction, and commercial real estate. He has served on several economic development commissions in the State, a city council in Homer, Alaska and multiple boards. Mr. Welles received a Bachelor of Arts in Foreign Service and International Business from Baylor University.

Lamar Cotten - Member

Mr. Cotten was appointed to the Board on August 31, 2018. Mr. Cotten has lived in Alaska since 1951. He has worked in, around and for rural Alaska communities for the last 39 years. His professional experience includes administrator / manager in Aleutians East Borough (1987-91) and Lake and Peninsula Borough (2008-13) as well as City of Sand Point (1984-87) and King Cove (1984-86). Additionally, he served as Deputy Commissioner of Regional Affairs / AIDEA Rural Development Manager (1995-2002). He has in past years served on a series of boards and commissions including the AMBBA and AHFC. He presently serves as chair of the Local Boundary Commission. He has a master in urban and regional planning from University of Oregon.  

Pamela Leary - Delegate for the Department of Revenue

Ms. Leary is the first delegate for Sheldon Fisher, Commissioner of the Department of Revenue.  She is the Director of Treasury Division in the Department of Revenue and serves as the State Treasurer.  She previously served in the Department of Revenue as State Comptroller from 2007 through 2013.  Ms. Leary began her career as an auditor with Price Waterhouse and became a partner in the firm PricewaterhouseCoopers, LLP. After moving to Alaska, Ms. Leary owned and operated a business before reentering the accounting profession with the Alaska Permanent Fund Corporation. She holds a bachelor’s degree in economics from the Wharton School, University of Pennsylvania, and is a certified public accountant in the State of Alaska.

Mike Navarre - Department of Commerce, Community, and Economic Development

The Governor recently announced the appointment of Mike Navarre as the Commissioner of the Department of Commerce, Community, and Economic Development.  Commissioner Navarre was most recently in his second consecutive term as mayor of the Kenai Peninsula Borough, and third term overall; he has also twice been president of the Alaska Conference of Mayors.  Previously, he served in the Alaska House of Representatives for six terms (1985-1996) where he held multiple leadership positions, including Majority Leader, and chair of the Finance and Rules Committees.  Commissioner Navarre has over 30 years of business experience in restaurant and retail operations throughout Alaska.  He holds a Bachelor’s degree in Government with a minor in Economics from Eastern Washington University.

Craig Chapman - Member

Mr. Chapman was appointed to the board on July 21, 2017.  Mr. Chapman is a lifelong Alaskan.  He graduated from Gonzaga University with a Bachelor of Business Administration with an emphasis in accounting.  He has been a licensed Certified Public Accountant in the State of Alaska since 1983.  In addition to spending six years in public accounting, Mr. Chapman has over 30 years of experience in private and governmental financial management positions including 20 years at the Kenai Peninsula Borough with almost 12 years as Finance Director.  He previously served on the State of Alaska, Board of Public Accountancy.