Alaska Bulk Water misses $1 million payment to Sitka

SITKA, Alaska (AP) – Alaska Bulk Water Inc. is past due on a $1 million payment to extend its contract with Sitka.

The Sitka Sentinel reports Gary Paxton Industrial Park Director Garry White says the payment was due Dec. 8, but hasn’t been received. He told park board members Thursday that the company has 45 days to make the payment and prevent its water rights at Blue Lake from returning to the open market.

He said it’s a matter of what he called insider investor issues, and that his understanding is the company has a plan to procure the funds.

KCAW-FM had reported that Sitka assembly members approved this sixth contract extension in late October. The company, under a different name, drew up its first purchase agreement with Sitka almost a decade ago.