Voters will decide if they want the borough to take out loans to fund eight utility projects totaling no more than $8 million after the assembly passed ordinance #2019-05 in its third reading last week.
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. The responsibility of the repayment of the loans would fall on water and wastewater rate payers. The wastewater department has five projects planned for a total of $2.6 million, and there are three projects planned in the water department totaling $5...
Reader Comments(0)