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Show GDSOGiKSSS Fedeiral sv.oir.ey sivoiilleilblle tfor business ejpenmsioin) Existing small businesses may have the way opened up to them for expansion expan-sion if they qualify for federal programs pro-grams marketed on the state level. State economic development professional, profes-sional, Doug Dickenson, explained the way to qualify for the federal money during Tuesday's Chamber of Commerce Com-merce meeting. "For the last ten months, the state Industrial development Division has been working on the Small Business Revitalization Program." Dickenson said. The purpose of the program is to market the Small Business Administration Ad-ministration (SBA) 503 Program and the Urban Development Action Grant Program. The state screens applications for these two loans and packages them to the business's needs. Dickenson said the two federal finance programs accomplishes two things: they encourage banks to make . long-term loans to successful businesses and increase business activity. The SBA 503 and Urban Development Develop-ment loans do not focus on businesses that are not doing well, but rather already established businesses that are doing well. "The programs use of federal money is an incentive for businesses to expand and for banks to make long-term long-term loans." Federal money is used as a leverage to loosen a greater amount of local money and equity from the business. The SBA 503 loan requires 50 percent participation from the bank, SBA puts up 40 percent and the business put up a 10 percent payment. Only a few cities in the Uintah Basin are eligable to participate in the Urban Ur-ban Development Loan program: Manila and Myton. Vernal doesn't qualify because this loan is for only distressed cities. The state acts as a broker for the SBA 503 loan. Because of the success of the program on a federal level, 20 states have signed up with the National Na-tional Development Council which provides pro-vides the expertise needed to market Moon Lake Electric to refund $3,700,000 the program. As of June 30 the state was working with five manufacturing companies for $18 million in financing, seven retail trade businesses for $80 million in financing, a Salt Lake City office building facility for $33 million and a housing development for $7 million. Since November 1982, the state has done 25 SBA 503 loans. The SBA 503 loan is a fixed asset financing program which offers small businesses fixed interest loans at a below market rate. Loan proceeds can be used for buidling construction or acquisition ac-quisition and rehabilitation, leasehold improvements and machinery and equipment. Any business whose net worth is less than $6 million and whose profits after taxes is under $2 million for the previous two years qualifies for the loan. The 503 program is limited to owner-users, developers do not qualify for loans under the program. The SAB loan is subordinated to the private loan and is offered at an interest in-terest rate set at .675 precent over the U.S. Treasury bond rate. The rate fluctuates fluc-tuates with the market and is set once a month for loans that are closed in that month. When the loan is closed, The Moon Lake Electric Board of Directors, at their regularly scheduled schedul-ed meeting on August 24, approved a plan to refund approximately $3,700,000 to the members of the cooperative on December 5 of this year. This refund stems from an overcharge over-charge by Utah Power and Light (UP&L) to Moon Lake Electric during the years of 1976 through 1980. At that time Moon Lake was purchasing substantial amounts of electricity from UP&L to serve the needs of its members. Steve A. Claim, general manager of Moon Lake, said, "The Board of Directors, in recognizing the overcharge, took legal action to recover the funds. The legal process has taken a long time but was successful, suc-cessful, and the overcharge will be returned to the members." The refund will not take place until December 5 because details must be Business Licenses Approved Sept. 7 at City Council meeting were the following business licenses for Vernal City: Charles Walker and Associates (contractor), Boswell and Elder Construction (from Orem), George Bingham Construction, Construc-tion, Sears Catalog, Patten Produce (fruit vendor), Stockmar Electric (contractor from Salt Lake City), George Paynter (contractor from West Valley), Jay. Roy Stacey (from Ogden), and 84 Lumber. How come you have so little to show for your $25,000 income? MayV Hi hecau yw don't have a financial plan- To get tome idea on how you can itart one, come to a free IDS Financial Planning Seminar. You'll take the fim Mep toward a financial plan. And have more to how for your income. It'i free hut plea call for mating reservation. FREE SEMINAR! Call m-mS or 1-292-1574 Tuesday, September 13, 7:00 p.m. Uintah County Library Of mail In coupon below. TtS, I fm m mm tj rWl t-ml tW ! I I v f I V i L tl . Ui mm mm m IDEAS m mm trm !( I t Mill J I DOUG DICKENSON tells Chamber members ways to use federal funds for expansion of their businesses. the rate is fixed and remains constant over the life of the loan. The November 1982 interest rate was 11.3 percent. The loan's term is tied to the life of the asset and is either 15, 20, or 25 years. To protect hydropower interest Public Power Council organized worked out, computer programs must be written, and checks must be printed for the members who are no longer on the Moon Lake system. Approximately Approximate-ly 16,900 people are involved in the refund re-fund over the years that the overcharge over-charge was in effect. About 9,600 have left the cooperative lines while 7,300 remain. While the refund amounts will vary in relation to the electricity purchased, purchas-ed, it was noted by Mr. Glaim that the average residential member will receive approximately $40 to $50 credit on their December 5 bill. He also stated that, "This is a fine example of the job that is done by the directors. Many things take place to protect the members of Moon Lake from higher costs but, unfortunately, most of these cost-saving projects go unnoticed. This is something the members can see that has been done by their directors." Receives U.S. Air Force Silver Wings Second Lt. John S. Gardner, son of retired Air Force Lt. Col. Deloy J. and Leah P. Gardner of Hyde Park, Utah, has graduated from US. Airforce pilot training, and has received silver wings at Vance Air Force Base, Okla. Gardner will now serve at McClellan Air Force Base, Calif. He Is a 1982 graduate of Utah State University at Logan. Gardner's wife, Vivian, is the daughter of Thomas F. and Fay F. Ho wells of Vemal. Moon Lake Electric Company has recently mounted a campaign against Utah Power and Light's bid to be given a portion of the inexpensive power produced pro-duced at hydroelectric plants on the Green and Colorado Rivers. That campaign cam-paign was given a boost Wednesday as representatives from more than 12 municipal power companies and electric elec-tric associations met to form the Utah Public Power Council. The major objective of the Council will be to fight the UP&L application to be given a portion of hydroelectric power. UP&L claims they should be given a portion of the power because the power plants were built by tax money collected from all citizens. For 75 years there has been a "preference clause" in federal law which mandates the priority for hydroelectric power must be given to power companies which are municipally owned. The municipally owned companies claim they have rights to the power, since the cities which they serve went out on a limb many years ago to contract con-tract for the power when it was substantially more expensive than power being sold by UP&L. They looked look-ed at it at that time as an investment, which turned out to be a good one, and they now claim they should benefit from their investment. Last month the Western Area Power ' Administration tentatively denied the UP&L request to be granted the power which originates from Flaming Gorge, Glen Canyon, and Hoover Dams. The WAPA initially said UP&L will not be included in the preliminary marketing criteria as a "preference customer." The WAPA said the way hydropower has been allocated in the past is fair and does not constitute unfair marketing practices, as UP&L claims. Representatives and mayors from about 40 cities who operate public power systems attended the organizational organiza-tional meeting in Murray, Wednesday. Friday, September 9, 1983 Utah Crop and weather summary In spite of scattered showers, spring wheat and barley harvest made good progress over the survey week, according accor-ding to the Utah Crop and Livestock Reporting Services. Spring wheat reached 73 percent harvested by the end of the period up from 34 percent a week earlier. The barley harvest advanced from 57 percent per-cent last period to 75 percent this week. Yields from early harvested fields have been average. Hay producers are between cuttings over much of the state. Some late second se-cond cutting is still in progress and, in earlier valleys, third cutting is under way. Rain damage to the second crop has been widespread and serious. Some 18 percent of third crop alfalfa had been cut by the end of the week. Both commercial hay growers will have a cash crop and the dairymen will have winter feed. Because of the delayed season, tonnage could be below normal for the third crop and very little, if any, fourth crop is likely except in Washington County. Alfalfa seed harvest is just starting, with yield prospects rating only fair. Late season fruit picking is active. Peaches are 23 percent complete, pears 18 percent, and apples 6 percent. Supplies of all three should be good over the next few weeks. 5th East Plaza Renovated The 5th East Plaza has recently undergone renovations. For the past three months the entire building has been under construction to remodel the inside portion. There are plans to improve the parking lot also. New occupants of the shopping center include LC's Pets, owned by Larry and Larraine Crowl, World Wide Imports, owned by David Larsen, Golden Ceramics, owned by David and Arlene Hatch, Gilley's Carpets, owned by brothers Bruce and Brent Gilley, Dina-Sno, owned by Phil Rushton, and Lawrence B. Larsen, certified public accountant. Trailways signed the lease to transfer their place of business to the plaza on the morning of Sept. 8. They will occupy oc-cupy suite 6 and will put in a small vending ven-ding shop for sandwiches and refreshments. Gcaraan. area X X as ; .. & s S $ V ks c7rTr-a CHURCH 1)1 HECTOR V i m r & & 4 THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS VERNAL UTAH ASHLEY STAKE i A a y A y A y VERNAL FIRST WARD lahap Chartat Praaoa 200 Wart 2 SO North, 789 3318 SUNDAY PM. RS. YW. Prun , , 10 M a.m. Sunday School It Man. Sacramant Maatmf 12 20 a m. VERNAL SECOND WARD Btahap N. WaPan) GaddanJ 231 (aH tOO South. 781471 SUNDAV PM. W. YW. Prim , OOam. Sunday School . . I0O0 am. Sacramant Maatmf , , lOMam. VERNAL FOURTH WARD Hhaa Jaot lant l taO0auB7tlllt Sunday PM. S. vw. Pnm , , lOOam Sunday School , tOOam, Sacrament Maan I Mam VERNAL FIFTH WARD 10 Mar 200 Sunday pm. n yw. P Sunday School WCfmm MstmJ 711401 OOam. OOam Mam A VERNAL SIXTH WARD i twwa marta W Sue A 0 WmA 100 Mar. TliiiH Sunday A PM. HI VW. Pnm . O0 am y SvndaySihaal IOOO a tajftw" 100 am ASHLEY SECOND WARD Blihop Untord Batty 2S7S North 1500 Wait. 789-035S SUNDAV PM. RS. YW. Prim . , 00 a.m. Sunday School 00 a.m. Sacramant Moating , . , SO a.m. DUTCH JOHN rthop Staphan Thompion Dutch John. Utah S402. HMU SUNDAY PM. RS. YW. Prim . tOOam. Sunday School I0O0 a m. Sacramant Maatinf 10 Mam. MAESER FIRST WARD Bithoo Ronald Oaoraa Robo 274S Waal 1000 North, 7SV-2SM Sunday PM. RS. YW. Prm I 00 am, Sunday School , 2 00 a m. Sacramant Maatma, 2 M p m. MAESER SECOND WARD Bithap John H. Smith 1741 nt 1000 North, TVt-IIM SUNDAY PM. RS. YW. Pun 100 am. Sunday School OOam. Sacramant Moatm. , M a m. MAESER THIRD WARD ihaa Mat Mctaan ItTS Narth IMO Warn. 7WM44I SUNOAV PM. R1VW. Pnm O0m SwndaySthool 4 OOam Sacramant Mtm( 4Kam MAESER FOURTH WARD Bxtaa Cta AtMMiin 2741 Waal 1000 Narv 7M4U1 SUNDAY a yrw Pn 10 Ham Sunday Sth II Mam tacramam Mm ItKam NAPLES FIRST WARD Blihop Lawranca Kay 2313 South 1500 Eart. 789-1100 SUNDAV PM. RS. YW. Prim . . 100 p.m. Sunday School ..... 2 00 p m. Sacramant Maatinf . . , 2 JO p.m. NAPLES SECOND WARD Blihop f. Lortn Marroll 2313 South IMO Eitt. 7a3267 SUNDAY PM. RS. YW. Prim , 00 a m. Sunday School . . 1000 am. Sacramant Maatinf 10 M a.m. VERNAL UTAH CLINES STAKE L B y y y y y y y y VERNAL SEVENTH WARD HmtOtmtOmm 10 Wmt 100 NafA. Ttaonl SUNOAV PM RS VW tvw. 1 00 am 100pm IN VERNAL UTAH STAKE VERNAL NINTH WARD M mm m rt9wi SUNOAV Ml RS w , too loop IMP DAVIS FIRST WARD o m imo tan. mint SUNOAV PM RS YW Rum OOp SwndayStNrmi 400 a aacrant tw 4Mp DAVIS SECONO WARO "Nap Uma t Ca tM m IM9 1. 7fll lDV PM. . Rwa. lOOt. 0 4 VtRNAi UTAH MAESER STAKE ASMIIY FIRST WARD HI 1MB WML 7f9R4 4 M"0 Q m vw Rh It MP It MP IMP DAVtS THIRD WARD txNmjMum J mm tW imp taw. 7RPMIB 9Uoav It MP v ScPw If pop Sua m a Him . IMP. JENSEN WARD GLINES FIRST WARD Bfthap Bmy La Workman I4BS Waal Hwy M. 71 ISM Sunday PM. RS. YW. Pnm BOO am. Sunday School OOam. Sacramant Maatinf M 4 m, CLINES SECOND WARD BMhap Cart Jotma 47S Waal 100 South. 7I07M Sunday PM. RJ. VW. Rum IIM4m Sunday StMsl 12Mpm Scaman lwflf I Mpm CLINES THIRD WARD BNhap 0n nnan I4M Waal INry 40. 7t74ll Sunday PM RS VW Pnm II Sunday Schawl II Mpm Sacramvt Maatinf I Mpm CLINES FOURTH WARD Ms'JIpJ RWl it, 4M Warn Nmy M Sunday PMRSVWPrMt O0p Sunday SehmH Satrama"! MMtif 4Mp VERNAL THIRD WARD if Waal 100 SaafA. m $!N0V p m vw ln loot Sw OS4 Sm-f Wn INI VERNAL EIGHTH WARO nafj t-PJRi'J PPJ"imm4 tT PM 100 m 7 Mtl SiN04 SAINT JAMES CATHOLIC CHURCH Fathar John 0. Kokil 100 North 100 Wart. 783016 Sunday Mast BOO t 1000 am. SATURDAY Mut 6 30 p.m. Eva ot Holy Day . , 6 30 p m. Holy Day! of Oblaion Noon and 6 30 p m. 3rd WEDNESDAY LadtClub 7 30 pm. Itt THURSDAY KotC 7 Mpm. Rtttfon Clattat Contact Sir ElKJbath 78 4891 Cooltnion vi hour Datorp trip Uur- day and Sunday MaM Daily MaiMt al S 00 p m SAINT PAUL'S EPISCOPAL CHURCH Ra M Gant Hutchuw. Prtatt mwart Mam. 7P IPO Sunday Eucnaritt 1000 am Tun : mquvat data 7 JO p m m Panth VERNAL ASSEMBLY OF COD Pattar Slaraay Artat 444 Wat 4O0 North. 74 II II Sunday Sunday StMal AS am Tn N. Son Kvtl lOMam Vyn4 WvhD IIOOm twMW9y t Mpm TMumOAV Pa' "d Pr CHURCH OF CHRIST 2043 Wait Hwy. 40 784269. 782389 SUNDAY BitM Clau , 10 00 a.m. Morning Worship , I0 SS a m. Evaninf Worthip I N p.m. WEDNESDAY Evaning BiM Clin 7 00 p.m. FIRST BAPTIST CHURCH 2100 Wart Hwy 40. 7891347 Sunday Sunday School 4S m. Morning Worvhip II Mam, Ctiu'Ch Training 4 00 p m Evaning Woihip 700pm WtDNfSOAV Evaning Sarv 7Mpm GRACE BAPTIST CHURCH Partor Richard 0 Atlra Ml South 2M0 tart Vou wcom lo taa atrvxat Sunday SuAdav ScNtf Bi Hour 1000 a m Var,4 Wyn JavmcallMam tvn.ng Cunpml Vva t M pm. V4twrt t4 Siudr' Mpm IwlKnre BTkn avwyimaday at llSSam annvtl L y y & at U & & & & k y Ha IMP 4C)p 4 POP 700pm VERNAL CHRISTIAN CHURCH Mwauiar tva iJn 14 amrt 7M Sawth. 71 9t SlWlDAY nb-m 4lm Wrf. STrJ 1 1 00 A rpf 700 pm WtDNfSOAV VJM"I W"Vl I II P tmt B S; 7 Mp t d-H VERNAL LANOMARK MISSIONARY BAPTIST CHURCH Radar ta4 74 tart 100 pmrRV mMTt SWNDA itnSrot IOMP tUmmmhm II 00 Crh tawf IMP rvaWtMi 700pm WfONE50 En Srms 70BP VERNAL SEVENTH DAY AOVtNTtST CMURCM MP 1IOBP KINGSBURY COMMUNITY UCC. Dm 1 CtrHt Unnad Maihamat. Kl W VHh Vw y Sunmrn VtDatM4V PHim Vw tntarttm SLt4 NHIVf va 444 IWMIt MP tjp I9M4 A A A A V 9 U 9 Vavn" LUph B'Rrxh GMPiHl IttRpv ?Mp FULL GOSrtl CMURCM tlll nem O t ar t a - 5Bpm t t t 9 9 9 9na ' IM 1 A 4i 9 tf V 4i 4 1 t V 9 9 1 t J I 1 & & 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4444446444444& Chwnhai CNMrt Dana w Parka m Mtart IMNarfh. 7M44M SUNDAV Smi IHia SwniMy II MP OUR SAVIOR LUTHERAN CHURCH 04 1 ftr Partar n tm KXJ nm 7MI4f V'y. ww iooo tt 7Mp w, r.nsi jrnd I am Svmley Rit StUO t tOM -' 10 II var a'f,i R R-t 9COOi art It 19 ) Suy RC0RGANiO CHURCH OF JESUS CHRIST OF LATTER DAY SAINTS (. mmm m a-) pmk 0 ntm IM a tAifUTt nmt CMjptu tssa nm tr 7ttM 9.Noaa PIP lIMP |