Petersburg voters may be asked to approve $19.3 million debt for Water/Wastewater

If it passes its final reading at the next Petersburg Borough Assembly meeting, a ballot proposition this fall will ask borough voters to authorize $19.3 million in new debt for the Water and Wastewater utilities.

The loans would come from the Alaska Department of Environmental Conservation revolving loan fund, which provides municipal water utilities with loans for capital projects at 1.5% interest, 20-year repayment.

The authorization of the debt would sunset after five years, meaning the utilities could end up borrowing less than the full $19.3 million.

Petersburg voters might remember a si...