2008 EQUITY DISTRIBUTION PLAN

 

 

  1. Target distribution amount of approximately $325,000 in the year 2008
  2. Method of retirement:  part first-in-first-out (FIFO), part last-in-first-out (LIFO)
  3. Year and amount to be retired: 

·        $100,000 of patronage capital allocated in 2007 (total margins of $805,996)

·        $224,021.35 to retire the outstanding balance of the 1989 allocation

 (Note:  No allocations were made in 1988)

  1. Current members who are entitled to capital credit refunds will receive their refund as a credit on their bill, regardless of the amount.
  2. Members and former members will be given the opportunity to contribute their 2008 capital credit refund to the Community Fund administered by Washington Electric Cooperative. 
  3. All individual retirements will be reduced by any uncollectible or delinquent amount(s) owed to the Cooperative, as permitted by the Bylaws.
  4. No early retirements will be made to the estates of deceased members.
  5. No distribution will be made in the year 2008 for construction capital investments credited to patrons’ accounts from contributions-in-aid-of-construction for new line extensions.
  6. No distribution will be made in the year 2008 to those patrons who purchased and paid for Renewable Energy Certificates in 2007.