OCR Text |
Show San Miguel Power Authorizes Paying of Capital Credits fcr '51 The San Miguel Power Association As-sociation board of directors has authorize d payment of capital credits for the year l'Jol, Manager Fugene Mc-Leod Mc-Leod says. The amount of i:;i,G'Ji!,.li:j will be returned to the consumers of that year. All margins from 19 IJ-J951 have been allocated, but due to losses prior to 1951 1 only consumers on lines during I'JOl will benefit from this payment of capital credits. These refund checks will be mailed during the month of April 1970. All margins have been allocated allo-cated through 19119 as follows; 1951-$:M,(i!)8.83; 19j2$37.33G.83; 1953-S53.599.36; 195t-$G4,34'J.29; 1955-$'j7,45-l.82; 195G-57, none: lt)V! -$95.5(;5.;9; l'J'J 'C,G28.0r; PJi;)-r1.3';3.15; 19i;i-$53,242.80; 19i2-$:i,:,52.G2; 1903-19oC, none; l'jii7-$2t 055.41 ; 1953 $73,323.9.?; i.nd 1959, $i:.3,C',-3.03. These are the amounts con-rumers con-rumers have paid in energy bills over and above the actual ac-tual cost of furnishing this service. Patronage capital will be paid back to the consumers con-sumers as the financed condition con-dition of the cooperative permits, per-mits, in the order in which they have accumulated. The b.-ard of directors ,each year, will determine the feasibility fea-sibility of such a refund in the light of the financial condition con-dition and information available avail-able at that time. The Sin Miguel Power Association wiil first deduct any delinquent amount due and owed to the association from the ei:glble patrons entitled en-titled to such a cash refund, before making any cash refund re-fund to a patron owing a deli de-li nr;ujnt amount, or for electrical el-ectrical sendee, material, or service cf any type to San M.guel Power Association Incorporated. |