Section 3.161.030. 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.  

Authorities

42.45.250;42.45.260;42.45.270

Notes

Authority

AS 42.45.250 AS 42.45.260 AS 42.45.270

History

Eff. 9/2/2008, Register 188; am 1/28/2009, Register 189; am 3/8/2013, Register 205