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Title 3 . Commerce, Community, and Economic Development
Chapter 106 . Financial and Technical Assistance for Energy Systems, Facilities, and Equipment
Section 310. Eligibility

3 AAC 106.310. Eligibility

To be eligible for a loan,

(1) an applicant must intend to use the loan for purchase of fuel for an emergency or annual or semiannual supply, including the necessary costs of transporting the fuel;

(2) the applicant must agree to repay the loan in one year or less, according to a repayment plan determined by the authority;

(3) the amount borrowed may not exceed 90 percent of the wholesale price of the fuel purchased plus the cost of transporting the fuel;

(4) the amount of the loan, added to the amounts of all other bulk fuel loans to the same borrower in the same fiscal year, may not exceed $300,000.

History: Eff. 2/16/96, Register 137; am 3/25/2005, Register 173

Authority: AS 42.45.250

AS 44.83.080

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Last modified 7/05/2006