Full story link: http://www.usda.gov/Newsroom/0396.04.html Release No. 0396.04 Ed Loyd (202) 720-4623 Tim McNeilly (202) 690-0498 USDA ANNOUNCES $405.5 MILLION IN RURAL ELECTRIC LOANS Electric Service Expanded in 15 States to Serve Future Nearly 65,000 Consumers BLOMMER, Wis, Sept. 22, 2004 - Agriculture Secretary Ann M. Veneman today announced the approval of $405.5 million for 16 loan applications to expand rural electric service in 15 states. These funds further bolster President Bush's goal to increase economic opportunity and improve the quality of life in rural communities. "Community economic vitality depends on access to modern and dependable electric infrastructure," said Veneman. "The Bush Administration is committed to helping rural communities compete in the global economy through programs to enhance rural infrastructure." Loans are made available to finance the construction or replacement of electric transmission and generation facilities in rural areas through USDA Rural Development's utilities program. This program provides reliable, affordable electricity to the nation's rural communities. Funding of selected applicants will be contingent upon meeting the conditions of the loan agreements. "Improving basic electric infrastructure supports our vision for a prosperous future for rural communities," said Acting Agriculture Under Secretary for Rural Development Gilbert Gonzalez. "These funds represent a significant investment in the future of rural communities." In fiscal year 2003, the Bush Administration invested over $6.3 billion in grants, loans and loan guarantees to support the development and/or improvements to rural electric, telephone and water/wastewater infrastructure that helped create or save an estimated 150,000 jobs. The funds announced today will serve nearly 65,000 future customers, build 4,246 miles of new line and fund general system-wide modernization. The following electric loan applications have been approved: Applicant Funds to Serve State Loan Amount K.C. Electric Association, Inc. - Reimbursement Loan. Cheyenne, Kit Carson, Kiowa and Lincoln Counties CO $1,870,000 Sumter Electric Cooperative, Inc. - Construct 2,183 miles of new distribution line - Serving 22,000 new consumers. Lake, Marion, Citrus, Hernando, Sumter, Levy and Pasco Counties FL $49,000,000 Slash Pine Electric Membership Corporation - Construct 41 miles of new distribution line - Serving 638 new consumers. Atkinson, Berrien, Charlton, Clinch, Echols, Lanier, Ware and Lowndes Counties GA $2,658,000 Jackson Electric Membership Corporation - Construct 1,137 miles of new distribution lines and make other system improvements - Serving 26,793 new consumers. Gwinnett, Banks, Barrow, Franklin, Jackson, Lumpkin, Madison, Oglethorpe and Hall Counties GA $104,324,000 Menard Electric Cooperative - Construct and modernize the main headquarters that replaces four older buildings. Macon, Sangamon, Cass, Logan, Mason, Menard, Morgan and Tazewell Counties IL $1,736,000 Southwest Louisiana Electric Membership Corporation - Construct 429 miles of new distribution lines - Serving 9,233 new consumers. Iberia, St. Martin, Avoyelles, Evangeline, Acadia, Cameron, Lafayette, Vermilion and St. Landry LA $24,133,000 Meeker Cooperative Light & Power Association - Finance warehouse/garage of new headquarter facility. Wright, Stearns, Kandiyohi, McLeod, Meeker and Renville Counties MN $2,013,000 Farmers' Electric Cooperative, Inc. - Construct 51 miles of new distribution lines - Serving 900 new consumers. Caldwell, Carroll, Chariton, Clinton, Davies, DeKalb, Linn and Livingston Counties MO $11,381,000 Consolidated Electric Cooperative - Reimbursement Loan. Lincoln, Audrain, Boone, Callaway, Montgomery, Monroe, Pike and Ralls Counties MO $2,318,000 Lincoln Electric Cooperative, Inc. - Construct 89 miles of new distribution lines - Serving 680 new consumers. Lincoln and Flathead Counties. MT $5,039,000 Pee Dee Electric Membership Corporation - Construct 125 miles of new distribution lines - Serving 1,860 new consumers. Moore, Anson, Richmond, Montgomery, Stanly, Scotland and Union Counties NC $11,300,000 McLean Electric Cooperative, Inc. -Construct 30 miles of new distribution lines - Serving 276 new consumers. McHenry, McLean, Mountrail and Sheridan Counties. ND $2,994,000 Bedford Rural Electric Cooperative, Inc. - Construct 42 miles of new distribution lines - Serving 716 new consumers Bedford, Fulton and Somerset Counties PA $3,500,000 Southeastern Electric Cooperative, Inc. - Construct 54 miles of new distribution lines - Serving 960 new consumers. Bon Homme, Clay, Douglas, Hanson, Hutchinson, Lincoln, McCook, Minnehaha, Turner, Union and Yankton Counties SD $6,231,000 High Plains Power, Inc. - Construct 65 miles of new distribution lines - Serving 680 new consumers. Big Horn, Carbon, Fremont, Hot Springs, Johnson, Natrona, Park and Washakie Counties. WY $9,528,000 Dairyland Power Cooperative - Finance system improvements and environmental control projects to the existing units at Dairyland's generating facilities. Counties in Illinois, Minnesota, Iowa and Wisconsin. ILMNIAWI $167,555,000 USDA Rural Development's mission is to deliver programs that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Additional information about rural programs is available at a local USDA Rural Development office or on USDA's Web site at http://www.rurdev.usda.gov. # USDA News oc.news@xxxxxxxx 202 720-4623 ---------------------------------------------------- To unsubscribe, send email to oc.news@xxxxxxxx and reference your email address.
