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September 2007
For Immediate Release
Contact: Dave Gruenes, District
Manager
7341 Old Hwy. 52 St. Cloud, MN 56303
Phone-(320) 259-6601 or 1-800-448-1737
Fax-(320) 259-7099
dgruenes@stearnselectric.org
Stearns
Electric Association Assists St. Augusta
The City of St. Augusta has received
financial assistance for their new fire station with a loan from
Stearns Electric Association. Proceeds from the Cooperative’s
Economic Development fund will be used to provide a loan at 0%
interest to the City for a term of 10 years.
“The 0% loan through Stearns Electric
Association will save St. Augusta residents over $50,000 in
financing costs for the fire station,” said Mayor Bob Kroll.
“With the many costs associated with a new fire department, this
savings is a real benefit to our City.”
“Stearns Electric Association is proud to
be the electric power provider for the residents of St.
Augusta,’ said Dave Gruenes, district manager. “This loan is
another way we can demonstrate the benefits of membership in the
Cooperative”.
The Economic Development Fund is a
revolving loan fund established with the proceeds from the USDA
Rural Economic Development Grant (REDLG) and funds from Stearns
Electric Association. To date the Cooperative has funded
projects in St. Joseph, Rockville, Albany, Eden Valley and St.
Augusta.
Stearns Electric Association is a
Touchstone EnergyÒ
electric cooperative providing electricity to over 23,000
members in parts of the following counties: Stearns, Todd,
Morrison, Kandiyohi, Pope and Douglas. In addition to the
headquarters in Melrose, the Cooperative operates a district
office in St. Cloud.
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