00                      CS FOR SENATE BILL NO. 188(FIN)                                                                   
01 "An Act relating to the maximum amount of loans from the bulk fuel revolving loan                                       
02 fund to one borrower in a fiscal year."                                                                                 
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 $400,000, or, if the borrower is a cooperative                                  
08       corporation organized under AS 10.15 or an electric cooperative organized under                               
09       AS 10.25 and uses the loan to purchase bulk fuel on behalf of more than one                                   
10       community, may not exceed the lesser of $400,000 multiplied by the number of                                  
11       communities on whose behalf the bulk fuel is to be purchased, or $1,500,000                                   
12       [$300,000];                                                                                                       
13                 (2)  shall be repaid in one year or less; and                                                           
14                 (3)  may not exceed 90 percent of the wholesale price of the fuel                                       

01       purchased.