3 AAC 161.030 - Eligibility
To be eligible for a loan,
(1) an applicant must intend to use the loan
for purchase of fuel to generate power or supply the public with fuel for use,
including the necessary costs of transporting the fuel;
(2) an applicant must agree to repay the loan
in one year or less, according to a repayment plan determined by the
division;
(3) the amount of the
loan, added to the amounts of all other bulk fuel revolving loan principal
balances to the same borrower
(A) may not
exceed $750,000, unless the loan is from the bulk fuel loan account and the
borrower
(i) is a cooperative corporation
organized under AS 10.15 or an electric cooperative organized under AS 10.25;
and
(ii) uses the loan to purchase
bulk fuel on behalf of more than one community; and
(B) may not exceed the lesser of
(i) $750,000 multiplied by the number of
eligible communities on whose behalf the bulk fuel is to be purchased;
or
(ii) $1,800,000.
Notes
Authority:AS 42.45.250
AS 42.45.260
AS 42.45.270
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.