Representative
Chris Tuck
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October 30, 2015
Special Session Update and
Safe Pet Tips for Halloween
Dear Neighbors,
My colleagues in the Legislature and I have been called to the Capitol in Juneau for the third Special Session of the year. The Legislature must authorize certain key decisions that are vital if we are to move forward on the natural gas pipeline in a timely manner.
Above: Rep. Chris Tuck is joined by members of the Anchorage Police Department at Willow Crest Elementary during his most recent community crime summit.
I am glad Governor Walker has called us together to give the process a thorough review, because to take no action would be irresponsible and could potentially threaten our collective financial future.
TransCanada Buyout Makes Good Sense
Governor Walker recently obtained written guarantees from two of the three major leaseholders on the North Slope to supply needed gas to any pipeline project that moves forward. As a result, the focus of the current Special Session has largely narrowed to the question of whether the state should buy out pipeline construction company TransCanada’s share of the project.
In Legislative hearings and other discussions with industry experts and officials we have heard convincing evidence in support of a buyout. TransCanada is ready and willing to end its involvement, which is a holdover from the Parnell administration and under current negotiations is not the best deal for Alaska.
The details so far:
• Alaska can increase its overall ownership stake in the AKLNG project up to 25-percent for the relatively small cost of $157 million
• The TransCanada buyout maximizes Alaska’s cash flow and voting rights on the project
• If TransCanada remains in the project the State of Alaska must cover all their expenses and pay the company 7 percent interest (more favorable financing options are available)
• Buying out TransCanada will allow Alaska to earn an additional $400 million per year once the project is up and running ($12 billion over 30 years)
• If Alaska does not end the relationship with TransCanada before the end of the year, it will be locked in for the next phase of the project at a cost of $675 million (interest charges will apply)
• AKLNG is projected to cost between $45-billion to $65-billion. Alaska’s share would be 25-percent
• Alaska will pay the costs under both scenarios (staying in or being bought out) but TransCanada will receive interest payments if there is no buyout
• Without a buyout Alaska must repay TransCanada even if there is no project
• TransCanada is acting as a bank but is charging a much higher interest rate than the state can receive from other lending institutions
• If we don’t buy out TransCanada now the next opportunity is at the end of 2018 with more added costs
• Governor Walker has the authority to end the relationship with TransCanada but sought the input and approval of the Alaska Legislature before making a decision
Tune in to the Discussion:
You can keep up to date with what is happening in the Legislature during Special Session by watching floor sessions and committee hearings on the 360 North Network or by live streaming committees at the following Alaska Legislature web link http://w3.legis.state.ak.us/index.php.
Please tune in to see the legislature at work in Juneau.
I’m here for you, so please keep in touch on matters important to you and your family!
Warm regards,
![[signed] Chris Tuck](../../images/signatures/46.gif)
Chris Tuck
Alaska State Representative
District 23 - Anchorage
Tuck’s Tips:
Halloween: Fun or Frightening for Pets?
From decorations to holiday treats, many of the things that make Halloween fun for people can be scary and even deadly to pets. Anchorage Animal Care and Control wants to remind the community there are many hazards to pets during this holiday. Fortunately, some simple tips can help keep family pets out of danger.
Keeping Pets Safe on Halloween
• Keep your pet inside in a quiet, enclosed area as opening the front door for trick-or-treaters gives your pet the opportunity to escape.
• Make sure your pet is wearing identification tags in case he/she gets loose.
• Keep candy away from your pet. Even small amounts of candy can be harmful and chocolate is toxic to cats, dogs, and ferrets.
• Keep your pet away from decorations. Small decorations can be choking hazards and open flames can quickly burn a pet’s fur.
• Only ask your pet to wear a costume if they are comfortable with it. Be sure the costume does not impede breathing or their ability to move freely.
• Keep your dog at home when trick-or-treating. The noise and confusion can make even the best dog hard to handle.
If your pet does get loose during the Halloween excitement, please see Anchorage Animal Care and Control’s Lost Pets webpage for guidance to help you and your pet be reunited:
muni.org/Departments/health/Admin/animal_control/Pages/lost.aspx