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Newspaper Archive of
Pahrump Mirror
Pahrump, Nevada
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May 8, 1997     Pahrump Mirror
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May 8, 1997
 

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r 4 Thursday, May 8, 1997 Pahrump Valley Gazette Valley Electric Association Disburses $1.4 Million Capital Credits To 1983-84 Members by Andy Holtmann The board of directors for the Valley Electric Associa- tion recently approved the payment of capital credits to those who were members and paid for electric service for portions of 1983 and 1984, Checks were mailed to these consumers at their last known addresses that were on record at the VEA on April 21, 1997. A total of $1.4 million was disbursed to about 3500 people who were VEA members during that time period. Capital credits are portions of money that are left over in a year after all of VEA's costs are met. The VEA is a nonprofit organization that is basically owned by the cus- tomers which it services. Any margin of money that is left over in a given year is returned to members from that year in the form of capital credit checks. The VEA does not return capital credits immediately to its members. Currently, there is about a 15 year wait for pay backs. During this wait, the VEA uses this money to build power lines and other electrical apparatuses to service the public. Some of the money also serves as a buffer that helps absorb wholesale power rate increases. Without this buffer UPTO ON THE PURCHASE OF A SET OF 4 BIG 0 BRAND TIRES! EVERY BIG 0 BRAND TIRE INCLUDES: v' FREE Rotations Every 5000 Miles v' FREE Ufetime Flat Repairs v' FREE Lifetime Air Pressure Check v' FREE Mounting v' FREE Lifetime Computer Balancing v' FREE Rubber Valve Stems And A FREE Read Hazard Replacement that can't be beat! CHROME FROM T s39" 155/R12 ..... 21 . 175/70R13 .... 2S.OOea 185/70R13 .... 29.00ea 185/70R14 .... 31 .gCJea 195/70R14 .... 33.ggea Non Big 0 brand. P185/75R14... ZT.00u P195/75R14... 29.00u P205]75R14... 31.00ea P205/75R15... 3S.OOez P215/75R15.,. 37.00ea Non Big 0 brand for*l PERFORMANCE! P185/60f114 .43.99ea P195160R14 .411.99ea P195/60R15 .49.99ea P205MR15 .51 .ggea P215/60R15 .51LJea Non Big 0 brand rate increases would many times be passed on to the con- sumer. Customers are credited on a first in, first out basis, meaning that those who were members of the co-op first, get their credits first. So far, the VEA has credited its members for the years 1965 through half of 1984 for years in which margins were made. .... We Are Aiming For Around 6.7% To Be Re- turned To Our members," said Larry Ortman, Manager of Office Services. "This total and when the payments are issued are still the decision of the board of directors though." The discretion of these payments is left up to the VEA's board of directors. They base their decision o," MXV4 P235/75R15,..sg.99ea 30X9.50R15C..73.99ea 31X10.SOR15.. 79.99ea LT235/75R15 . 69.99ea LT235/85R16 . 85.99ea Non Pg 0 ran BF GOODRICH TOURING T/A H4 *!0 OFF Any 2 Wheel Brake Service *20 OFF I I Mostcas I " I I Not vahO with Any 4 Wheel Brake Service t Free unit is JtmCe  Ihe iowe, cos! onI | I any othm oHe wh,,,,a i / installation exlla Expires/30/7 j Expires5/31/97 ,.,_hm ";"w',,Iw .... I M0St vehicles W@coupon NO;V3 ,'2, wi',",any .m,.m m,Vn,,,4wnt L other olle, Expes 5/31/97 .... L ............ J ............ J With Big O's Exclusive Credit Card O.A.C. PAHRUMP 1301 E, HIGHWAY 372 727-8400 LAKE MEAD & I)ECAllB 1965 N. DECATUR 647-6020 RANClIO & CRAIG 4520 N. RANCHO 656-7499 BOHAHZA & U 787 N. NELLIS 438-3282 P1851SOR14 Non Big HENDER51)N 828 S. BOULDER HWY. 565-9393 IIEBEUOIWlEEH VALLEY 170 N. PECOS 263-9333 DESERT INN & JONES 3303 S. JONES 873-6410 FI.AMBGO & BIHUER HWY.. 4728 E. FLAMINGO 451-2208 its review of the co-ops ove. I all financial standing. The VEA sends the capital credit checLs to the customers last known ad- dress. Unclaimed capital credits go to the state after a period of five years. Senate Bill 123 however could change that. The bill, sup- ported by State Senator Mike McGinness (R-Fallon), the VEA, and the Nevada Rural Electric Association, would have capital credits remain with their cooperatives and available indefinitely, re- gardless of where the mem- bers are located. Any questions regard- ing capital credits should be referred to the VEA at the Pahrump main office at 1- 702-727-5312, or toll free at 1-800-742-3330. VEA Scholarship winners Doug Monroe and Tyson Ferro of Pahrump Valley High School and Rick Jack- son of Beatty High School are this year's recipients of Valley Electric Association's $500 High School Senior Scholarship awards. The three winners were an- nounced on, April 26 at the electric cooperative's annual full membership meeting held at the Beatty Commu- nity Center. Each winner will receive a $500 scholarship after suc- cessfully completing their first semester or quarter of academic study at a post high school educational nstitu- tion and show that tlly plan to start a second erm of iqdgs in theprevus two y..ears.of the program, high school seniors who live iL VEA's service area were eli- gible to apply for the schol- arship. VIA's service area ex- tends from and includes Sandy Valley in the south, to Fish Lake Valley in the north and also includes the com- munities of Pahrump, Amargosa Valley and Beatty. Monroe plans to attend DeVry Institute in Phoenix this fall; Ferro will attend the University of Nevada, Las Vegas; and Jackson plans to attend Cerro Coso Community College in Ridgecrest, Calif.