Petersburg’s Borough Assembly has a lean agenda ahead of their meeting today, with the only one item of unfinished business on the table: an ordinance that could change how the assembly is able to make sales tax exemptions.
The Borough Charter says that any change to the Borough’s sales tax exemptions has to get voter approval in the municipal election. Borough officials say this limits the assembly’s flexibility and timeliness in budgetary matters. And, that letting the assembly have the final say on sales tax exemptions would streamline that process.
If the proposition passes in the assembly today, it will go before Borough voters in the municipal election. It has received unanimous approval by the assembly in its last two readings.
In new business, the assembly will vote on two other ballot propositions that could go before Petersburg voters in October.
One of those ballot propositions would issue up to $4,500,000 in general obligation bonds to finance improvements to local schools.
Proceeds from those bonds would be used to replace or repair the roof of the local middle and high School, which was damaged by snow and ice in 2021. The bonds would also finance security upgrades to all the Borough’s public schools.
The other ballot proposition on the table would allow the borough to borrow up to almost $20 million from the Alaska Department of Environmental Conservation.
That loan would cover several public water and wastewater infrastructure projects across the Borough – some of which, are mandated by the state. The loan program offers interest rates of approximately 1.5% over a 20 year period.
Petersburg’s Borough Assembly will meet at 12 noon today in the Assembly Chambers. KFSK will broadcast that meeting live and post the recording in our Assembly Archive.
