Board Approves NJUS Request for $4.5 Million in Loans
Two resolutions were passed at Tuesday night’s Nome Joint Utility System Board Meeting.
Resolutions 18-05 and 18-06 both request approval from the City Council to accept over $4.5 million in loans from the Alaska Department of Environmental Conservation, or ADEC.
NJUS expects to use the low interest loans to finance infrastructure improvements to water and sewer systems. The borrowed funds will be used towards the Alaska Department of Transportation and Public Facilities’ planned reconstruction project on Bering Street by the year 2020.
If approved by the Nome Common Council, the loans could affect tariff rates for commercial and residential utility bills after the completion of the project.
The next regular meeting of the NJUS board will take place on July 17th at 12 noon in Council Chambers.
Image at top: file photo, credit: Matthew F. Smith, KNOM.