(a) Subject to appropriations for the purpose, during each fiscal year, the authority shall allocate to each entity listed in (b) of this section an amount to reimburse the cost paid by the entity during the immediately preceding fiscal year for the principal and interest on outstanding debt for the project listed. An allocation may be made to an entity only if
(1) the debt was incurred before July 1, 2005; and
(2) the power project financed with the debt proceeds is owned and operated by the entity.
(b) The authority may make an allocation to an entity under (a) of this section only for reimbursement of costs incurred for construction and renovation of the following power projects and only for reimbursement of total project costs incurred up to the following amounts:
PROJECTKodiak Electric Association, Inc. (Nyman Combined Cycle Cogeneration Plant)$ 6,000,000Cordova Electric Cooperative (Power Creek Hydropower Station)12,000,000Golden Valley Electric Association (Rock Creek line extension) 700,000Copper Valley Electric Association, Inc., Valdez (cogeneration projects)10,000,000The Four Dam Pool Power Agency (Southeast Intertie, Swan Lake to Tyee Lake)20,000,000Metlakatla Power and Light (utility plant and capital additions)3,000,000
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