The borough assembly approved an ordinance last week in its first reading that would give voters the opportunity to decide whether or not to allow the water and wastewater departments to take out loans not to exceed a total of $8 million for capital improvement projects.
The responsibility of the repayment of the loans would fall on water and wastewater rate payers. The loans will be through the Alaska Department of Environmental Conservation and will be paid back over a 20-year period at 1.5 percent interest. If ordinance #2019-05 passes in its three readings, it will go before voters in the...
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