Forrer plans to appeal

Juneau, Alaska (KINY) When the going gets tough, the tough gets going.

Eric Forrer said he will file an appeal after a state judge dismissed his challenge to former Gov. Bill Walker's plan to use bonds to pay off oil and gas tax credits.

Forrer said he is worried about the legal precedent of allowing debt to mount in Alaska.  He said if he fails, the state could get in financial straits and drew comparisons to Venezuela which has debts into the billions of dollars.

"It was not completely unexpected (this ruling), we have decided to appeal.  The appeal is not a slam dunk.  We have to get into it and file the paperwork and see what the response might be," he added.

The state legislature last year voted to create a corporation capable of floating $1 billion in bonds to pay off the debts.

 

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