The Haines Borough Assembly approved a smaller water and sewer rate increase than initially proposed at its Tuesday meeting, after borough finance director Jila Stuart suggested refinancing the sewer fund’s existing debt.
The $1.7 million debt is being repaid over a 40-year period through 2033. The assembly voted to authorize a 5-year loan from the areawide general fund to the sewer enterprise fund for $250,000 at 3% annual debt repayments. The loan would go from…