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Utility Given
Gov’t. Loan
The Rappahannock Electric Cooperative in Bowling Green has been awarded a loan of SS,856,000 by the Rural Electrification Administration in Washington, Seventh District Congressman J. Kenneth Robinson reported last week.
The co-op serves customers in 15 counties in Virginia, including Albemarle, Caroline, Culpeper, Fauquier, Goochland, Greene, Hanover, Louisa, Madison. Orange, Rappahannock, Spotsylvania and Stafford, all in the Seventh District.
Robinson said the loan is intended to finance service for 820 additional customers, and to make numerous other improvements in the system, including the construction of additional headquarters facilities. Federal financing is being extended at a 5 percent interest rate.
89.6%