Voters to decide on long term-indebtedness
September 26, 2019
The Petersburg municipal election is next week, and only one proposition, which would authorize long-term indebtedness for utility capital projects, will be on the ballot.
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 $5.4 million.
The assembly f...