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Agriculture

$7 million to be returned to members

Cooperative serves parts of Bureau and 17 other counties

BLOOMINGTON — Approximately 1,537 cooperative members and their families attended Corn Belt Energy Corp.’s 81st annual meeting, which was held at Central Catholic High School in Bloomington on June 21.

The theme for the meeting was “The Future is Bright.” Attendees enjoyed complimentary lunch, bucket truck rides, educational workshops on a variety of topics, alpaca petting zoo, kettle corn, snow cones and ice cream, safety demonstrations, and several free activities for children.

Cooperative Board Chairman Rae F. Payne remarked on how prudent oversight of maintenance and operational expenses affords Corn Belt Energy the ability to do many things like reinvest in its infrastructure and maintenance program to maintain reliability. It also allows Corn Belt Energy to do capital credit retirements. Capital credits are periodically returned to members as the financial condition of the cooperative dictates.

It was formally announced that $7 million will be disbursed to members as retired capital credits starting this fall. Payne closed his remarks by thanking the cooperative members for their involvement in the cooperative.

During the business meeting, the following directors were elected to serve three-year terms: Peter Borowski of Bloomington (District 1), Jessie Slager of Hopedale (District 2), Terry Longman of El Paso (District 3), Laverne Malone of Maroa (District 4) and Robert Angus of Ottawa (District 9).

After the business meeting concluded, the directors held a reorganizational meeting and re-elected Rae F. Payne of Bloomington as chairman, Charles Meisenheimer of Walnut as vice chairman, Albert Hagenbuch of Waltham as secretary-treasurer and Janice Reimer of Carlock as assistant secretary-treasurer.

Corn Belt’s electric service territory is comprised of two regions that cover parts of 18 counties in Central Illinois, including Bureau, Henry, Stark, Putnam and LaSalle counties.

The cooperative provides electricity to almost 36,000 households and businesses and maintains more than 5,300 miles of power lines.

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