$16 Million Federal Loan Will Expand Electricity In Overton County

July 11, 2007, LIVINGSTON – A $16 million Rural Development loan to Volunteer Energy Cooperative will improve and expand electricity in Overton County, as well as other counties in the cooperative, U.S. Rep. Bart Gordon announced.

“The return on this investment is enhanced quality of life for residents in the Upper Cumberland, not only from a comfort standpoint, but also for the economic development opportunities the improved and expanded utilities will provide,” Gordon said.

The funds will be used to serve 14,374 new customers, build 580 miles of new distribution line and make other system improvements.

The loan is payable at the U.S. Treasury rate over 30 years.

“Improving electric service for homes and businesses is critical to the economic future of people living in Overton County,” said Rural Development State Director Mary Ruth Tackett. “I am proud, with the support of Congressman Gordon, that Rural Development has the resources to assist the community by helping Volunteer Energy Cooperative as they build for the future.”