Link: http://www.usda.gov/2006/08/0278.xml Ed Loyd (202) 720-4623 Wayne Maloney (202) 690-0498 JOHANNS ANNOUNCES OVER $263.5 MILLION IN ELECTRIC LOANS; CONSUMERS IN NINE STATES WILL BENEFIT WASHINGTON, Aug. 2, 2006- Agriculture Secretary Mike Johanns today announced that $263,513,000 in electric loans will be provided to utilities to upgrade services and facilities in nine states. "Each day, all across rural America, electric cooperatives provide reliable service to their members," said Johanns. "The funds provided by these loans will enable electric cooperatives to expand and continue the important work they do, powering homes, farms and rural communities." Through USDA Rural Development's Utilities Program, loans and loan guarantees are made to finance the construction or replacement of electric transmission and generation facilities. Since the beginning of the Bush Administration, Rural Development has provided over 900 loans for more than $19 billion through the Electric Loan Program. Much of the funding will be used to build new power lines. The Benton Rural Electric Association of Washington State will build 40 miles of lines in three counties to serve about 800 new customers. In North Carolina, EnergyUnited Electric Membership Corporation will build almost 400 miles of new distribution and transmission lines in 19 counties, serving over 14,000 consumers. In Maryland, Southern Maryland Electric Cooperative, Inc. will build 630 miles of new distribution lines and make other system improvements to serve over 13,400 new customers. The loan recipients are: State Recipient Loan Amount Kansas The Sedgwick County Electric Cooperative Association, Inc. $4,837,000 Maryland Southern Maryland Electric Cooperative, Inc. $97,885,000 Missouri Ozark Border Electric Cooperative $36,920,000 New Mexico Roosevelt County Electric Cooperative, Inc. $7,818,000 North Carolina EnergyUnited Electric Membership Corp. $40,676,000 North Dakota and Minnesota Minnkota Power Cooperative, Inc. $59,602,000 South Carolina Fairfield Electric Cooperative, Inc. $6,775,000 Washington Benton Rural Electric Association $9,000,000 USDA Rural Development's mission is to increase economic opportunity and improve the quality of life in rural communities. As a venture capital entity, Rural Development has invested over $72 billion since the beginning of the Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Over 1.2 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov. # USDA News oc.news@xxxxxxxx 202 720-4623 ---------------------------------------------------- To unsubscribe, send email to mailto:webservices@xxxxxxxx?subject=UNSUBSCRIBE and reference your email address.
