HB 166: "An Act relating to the bulk fuel revolving loan fund."

00 HOUSE BILL NO. 166 01 "An Act relating to the bulk fuel revolving loan fund." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 42.45.260(d) is amended to read: 04 (d) Loans made from the bulk fuel loan account to one borrower 05 (1) may not exceed $1,500,000 [$750,000] or, if the borrower is a 06 cooperative corporation organized under AS 10.15 or an electric cooperative 07 organized under AS 10.25 and uses the loan to purchase bulk fuel on behalf of more 08 than one community, may not exceed $1,500,000 [$750,000] multiplied by the number 09 of communities on whose behalf the bulk fuel is to be purchased or $3,600,000 10 [$1,800,000], whichever is less; 11 (2) shall be repaid within one year after the date of the loan 12 disbursement; and 13 (3) may include additional terms and conditions required by the 14 division. 15 * Sec. 2. AS 42.45.299(1) is amended to read:

01 (1) "community" means an organized municipality or an 02 unincorporated village that is a social unit if the organized municipality or 03 unincorporated village has a population of less than 04 (A) 2,000 people; or 05 (B) 4,000 people and is located off the interconnected state 06 road system;