00                            SENATE BILL NO. 188                                                                         
01 "An Act increasing the maximum amount of loans from the bulk fuel revolving loan                                        
02 fund to one borrower."                                                                                                  
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 42.45.250(e) is amended to read:                                                                  
05            (e)  Loans made from the bulk fuel revolving loan fund to one borrower in any                                
06       fiscal year                                                                                                       
07                 (1)  may not exceed $300,000, or, if the borrower is a cooperative                                  
08       corporation organized under AS 10.15 and purchases bulk fuel on behalf of more                                
09       than one community, may not exceed $650,000;                                                                  
10                 (2)  shall be repaid in one year or less; and                                                           
11                 (3)  may not exceed 90 percent of the wholesale price of the fuel                                       
12       purchased.