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Fairbanks North Star Borough assembly moves to executive session as TAPS valuation settlement nears expiration
Summary
Borough attorney Jill Dolan briefed the assembly on the expiring Trans Alaska Pipeline System (TAPS) valuation settlement covering tax years 2016–2025 and said counsel should provide a confidential legal assessment; the assembly voted unanimously to enter executive session.
Borough attorney Jill Dolan told the Fairbanks North Star Borough Assembly on July 17 that the borough’s settlement agreement over the Trans Alaska Pipeline System valuation is set to expire at the end of tax year 2025 and recommended a confidential briefing from counsel on legal options.
Dolan, the assembly’s lead attorney on oil-and-gas valuation matters, said the settlement — in place since tax year 2016 and extended through 2025 — fixes certain valuation terms and limits appeals under specified conditions. “The settlement agreement does provide that if the valuation of TAPS is $8,000,000,000 that neither party will…
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