Title
Resolution - Approval to Rescind Resolutions Associated with Rural Utilities Service (RUS) Loan Programs- J Davis
Other Info
Submitted By: Sylvia A. Romero for CFO John Davis
Department: Finance
Financial Impact and Cost/Benefit Considerations:
Discussion
On October 30, 2015, the Cooperative submitted eligibility for electric loan financing under the Rural Electrification Act of 1936 through Rural Utilities Services, United States Department of Agriculture. On December 3, 2015, the Cooperative was defined to be a Rural Area based on section 7 CFR Part 1710 by the RUS Office of Loan Origination and Approval Electric Program. On September 29, 2016, the Cooperative signed a loan guarantee commitment in the amount of $68,180,000 with RUS for its Energy Efficiency and Conservation Loan Program (EECLP) to be utilized by the Cooperative. The Cooperative passed several resolutions associated with EECLP and its requirements and other RUS required resolutions. Below is a list of resolutions passed in connection with the RUS program.
1. 2016-68 Rural Utilities Service (RUS) Energy Efficiency Conservation Loan Program Financing Application, Passed 07/18/16
2. 2016-76 Long Range Financial Forecast for the Rural Utilities Service (RUS) Energy Conservation Loan Program, Passed 08/15/16
3. 2016-93 Approval of PEC's 2016-2025 Long Range Plan for the Rural Utilities Service (RUS) Energy Conservation Loan Program, Passed 09/19/16
4. 2016-101 Approval for Energy Efficiency Work Plan for RUS Energy Efficiency and Conservation Loan Program, Passed 10/17/16
5. 2016-102 Approval for RUS Energy Efficiency and Conservation Loan, Passed 10/17/16
6. 2016-116 Approval of a Revised RUS Commitment Letter and Business Plan, Passed 11/14/16
7. 2016-127 - Authorize Representatives for Rural Utilities Service (RUS) Loan
Application for the "RDApply" Process, Passed 12/19/16
8. 2017-090 Resolution - Approval of RUS Construction Work Plan, Passed 04/17/17
9. 2017-203 Resolution - A...
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