>Money for the line
2015年4月3日New Interior Alaska gas utility seeks line of credit
Construction starts next year in North Pole and will span at least six years, a gas utility official said. The state is providing grants and low interest loans to pay for the $600 million project.
"The flexibility to manage this project when you have no cash flow is what this provides," said Bob Shefchik, chairman of the utility’s board of directors. "It shows that the Fairbanks North Star Borough has the willingness to support the project."
The money also would help the utility deal with unexpected costs as it lays pipe from Eielson Air Force Base to Chena Ridge and to Farmers christian louboutin replica Loop Road.
The utility hopes to start providing gas, trucked from the North Slope, to customers starting in 2016.
The target price is equivalent to about $2 per gallon fuel http://www.cheapsunglasseswholesale.us.com/ oil, according to the utility’s website. Conversion from oil to gas is expected to cost homeowners an average of $8,000 depending on the existing heating appliance.
Ordinance No. 2014 18, sponsored by Borough Mayor Luke Hopkins, grants the line of credit with conditions:
The Michael Kors Outlet mayor approves all draws.
The borough’s chief financial officer must determine each draw won’t hurt borough finances.
The utility must establish a repayment schedule when asking for www.replicasunglasses.us.com money.
The utility must pay interest.
Each draw must be repaid within three years.
The utility must get approval from the state to use grants or loans to repay the borough.
The line of credit expires June 30, 2021.
All money must be repaid by christian louboutin shoes replica June 30, 2024.
The Cheap Michael Kors Outlet borough may cancel the line of credit anytime.
Money for the line of credit would come from an anticipated $7.8 million court settlement.
Assemblyman Michael Dukes said he’s fine with the line of credit from a business standpoint despite lingering doubts that natural gas is going to be substantially cheaper than heating oil.
He doesn’t want to use the court settlement money. That money should be used to provide tax relief, Dukes said.
"I find it surprising we are going to spend money we don’t even have yet," the assemblyman said.
Assemblyman Van Lawrence said he thinks the line of credit will help bring much needed relief from high energy costs to borough residents.
"The greatest need this community has is getting natural gas distributed to our homes and businesses," Lawrence said. "If all we do is hunker down and reduce taxes and not address this problem, then I think we are being defeatist."
Construction starts next year in North Pole and will span at least six years, a gas utility official said. The state is providing grants and low interest loans to pay for the $600 million project.
"The flexibility to manage this project when you have no cash flow is what this provides," said Bob Shefchik, chairman of the utility’s board of directors. "It shows that the Fairbanks North Star Borough has the willingness to support the project."
The money also would help the utility deal with unexpected costs as it lays pipe from Eielson Air Force Base to Chena Ridge and to Farmers christian louboutin replica Loop Road.
The utility hopes to start providing gas, trucked from the North Slope, to customers starting in 2016.
The target price is equivalent to about $2 per gallon fuel http://www.cheapsunglasseswholesale.us.com/ oil, according to the utility’s website. Conversion from oil to gas is expected to cost homeowners an average of $8,000 depending on the existing heating appliance.
Ordinance No. 2014 18, sponsored by Borough Mayor Luke Hopkins, grants the line of credit with conditions:
The Michael Kors Outlet mayor approves all draws.
The borough’s chief financial officer must determine each draw won’t hurt borough finances.
The utility must establish a repayment schedule when asking for www.replicasunglasses.us.com money.
The utility must pay interest.
Each draw must be repaid within three years.
The utility must get approval from the state to use grants or loans to repay the borough.
The line of credit expires June 30, 2021.
All money must be repaid by christian louboutin shoes replica June 30, 2024.
The Cheap Michael Kors Outlet borough may cancel the line of credit anytime.
Money for the line of credit would come from an anticipated $7.8 million court settlement.
Assemblyman Michael Dukes said he’s fine with the line of credit from a business standpoint despite lingering doubts that natural gas is going to be substantially cheaper than heating oil.
He doesn’t want to use the court settlement money. That money should be used to provide tax relief, Dukes said.
"I find it surprising we are going to spend money we don’t even have yet," the assemblyman said.
Assemblyman Van Lawrence said he thinks the line of credit will help bring much needed relief from high energy costs to borough residents.
"The greatest need this community has is getting natural gas distributed to our homes and businesses," Lawrence said. "If all we do is hunker down and reduce taxes and not address this problem, then I think we are being defeatist."
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