IGU New line of Credit


FAIRBANKS- Borough Assembly members voted to allow a line of credit for the Interior Gas Utility to help build a natural gas distribution system. IGU could use up to $7.5 million from the borough, but it agreed to pay back the loan (and interest) within three years. The line of credit will be available until 2021, the expected completion date of the project. Natural Gas pipes could be laid as early as 2015 and members of IGU say, the credit gives them flexibility to move forward.