The Board of Directors held meetings on September 22 to conduct its regular monthly Board Meeting to discuss and review several agenda items. During the meetings, they approved the Minutes of the last Board meeting and accepted the reports of the Attorney, President and Vice Presidents. In addition, Southwest Arkansas Telecommunication & Technology also held a regular Board Meeting.
The Board of Directors accepted the CFC patronage capital retirement allocation and payment to the Cooperative in the amount of $92,440.24.
The Board authorized the Cooperative to declare payable to its members $3 million in Capital Credits that includes portions of 1988, 1989 and 2021.
The Board accepted ACEI’s 2021 distribution, allocation and payment of capital credits.
Southwest Arkansas Electric Cooperative’s portion of the 2022 Power Requirement Study prepared by Arkansas Electric Cooperative Corporation on behalf of cooperative was approved by the Board of Directors.
The President was selected to serve as the Voting Delegate for the cooperative at the 2022 Touchstone Energy Annual Electronic Business Meeting and Board of Directors elections scheduled for December.
The President reported that the Directors’ Winter Conference and training is scheduled for December 3-6.
The Board authorized the Cooperative to rename its De Queen Substation as the Don Stemple Substation in honor of retired Director Don Stemple’s 54 years of service.
The Board selected Tommy Isbell and Jim Alford to serve as voting delegate and alternate voting delegate, respectively, at the Region 8 CFC meeting.
The Board approved 109 new member applications making the total number of members to date 18,863.
The President presented updates including future fiber installation, current pre-registrations for service and on general funding and grants.
The General Manager presented a report on future fiber installation and an update on the number of current connected customers.