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LEGAL NOTICE TO WHOM IT MAY C...
LEGAL NOTICE
TO WHOM IT MAY CONCERN:
Notice is hereby given that a hearing will be held before the Department of Finance of the State of Alabama at the State Capitol, Room E-317, located at 600 Dexter Avenue, Montgomery, Alabama, at 10:00 A.M. (Montgomery, Alabama time) on September 11, 2025, to determine whether consent should be given Arab Electric Cooperative ("Arab Electric") to (i) execute and deliver a revolving line of credit agreement with the National Rural Utilities Cooperative Finance Corporation ("CFC") for a revolving line of credit loan in the maximum principal amount of $5,000,000, which loan is subject to renewal annually, and to continue such approval for subsequent amendments, renewals or restatements of such loan; (ii) execute and deliver a Loan Agreement, including additional notes relating thereto, to evidence and secure a loan from CFC in the maximum principal amount of $5,000,000, and to continue such approval for subsequent amendments, renewals or restatements of such loan ("CFC Term Loan").
The proceeds of the revolving line of credit with CFC and the CFC Term Loan is to finance eligible property additions and to finance the construction and operation of substation upgrades, additional electric distribution lines and adequate transformers, distribution, service lines, together with all necessary for the efficient operations of system maintenance and construction in the counties of Marshall Counties, all in the State of Alabama.
Any person having an interest in these matters may attend the hearing and be heard on the question of whether the issuance of said agreements, notes and evidence of indebtedness for the above-referenced loans serves some public need and is in the public interest.
STATE OF ALABAMA
DEPARTMENT OF FINANCE
By: BILL POOLE
Director of Finance
The Cullman Times
August 13, 2025
TO WHOM IT MAY CONCERN:
Notice is hereby given that a hearing will be held before the Department of Finance of the State of Alabama at the State Capitol, Room E-317, located at 600 Dexter Avenue, Montgomery, Alabama, at 10:00 A.M. (Montgomery, Alabama time) on September 11, 2025, to determine whether consent should be given Arab Electric Cooperative ("Arab Electric") to (i) execute and deliver a revolving line of credit agreement with the National Rural Utilities Cooperative Finance Corporation ("CFC") for a revolving line of credit loan in the maximum principal amount of $5,000,000, which loan is subject to renewal annually, and to continue such approval for subsequent amendments, renewals or restatements of such loan; (ii) execute and deliver a Loan Agreement, including additional notes relating thereto, to evidence and secure a loan from CFC in the maximum principal amount of $5,000,000, and to continue such approval for subsequent amendments, renewals or restatements of such loan ("CFC Term Loan").
The proceeds of the revolving line of credit with CFC and the CFC Term Loan is to finance eligible property additions and to finance the construction and operation of substation upgrades, additional electric distribution lines and adequate transformers, distribution, service lines, together with all necessary for the efficient operations of system maintenance and construction in the counties of Marshall Counties, all in the State of Alabama.
Any person having an interest in these matters may attend the hearing and be heard on the question of whether the issuance of said agreements, notes and evidence of indebtedness for the above-referenced loans serves some public need and is in the public interest.
STATE OF ALABAMA
DEPARTMENT OF FINANCE
By: BILL POOLE
Director of Finance
The Cullman Times
August 13, 2025
Posted Online 35 weeks ago
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