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AIDEA Board Approves Conduit Bonds Issuance

Aug 26, 2019 | Alaska Native, Construction, Featured, Finance, Healthcare, News

ANCHORAGE—The Alaska Industrial Development and Export Authority (AIDEA) Board has unanimously approved a resolution that authorizes AIDEA to issue up to $145,000,000 in conduit revenue bonds to finance a Tanana Chiefs Conference project in various Interior Alaska communities.

Proceeds from the bonds will be lent to Dena’ Nena’ Henash d/b/a Tanana Chiefs Conference to provide funds to pay all or a portion of the costs for acquisition, expansion, renovation, furnishing, and equipping at the Chief Andrew Isaac Health Center in Fairbanks. Funds may also be used for the acquisition, construction, expansion, furnishing, and equipping of health care facilities in Tok, Manley Hot Springs, Evansville, and Northway.  

The bonds to be issued are conduit revenue bonds. Neither AIDEA’s credit or resources nor the state’s is at risk in connection with these bonds. 

AIDEA has issued over $1.5 billion in bonds since its inception to fund more than 300 projects throughout the state. 

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Out of the Mine and into the Smelter

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Mining has long been a key fixture of Alaska’s economy. On a small scale, people flock to the 49th state to tour different operations. Kennecott Mine was once a booming copper mining site and is now a National Historic Landmark, attracting tourists eager to visit the ghost town and get a feel of the Gold Rush era it once dominated.

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