Utility project loans to go on October ballot
August 29, 2019
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 totalin...