OPALCO's Long-term debt
Here is why I am running for the OPALCO board position.
I've been a working class OPALCO member for 45 years and I want my island neighbor to be able to continue to afford to be a member for another 45 years.
Randy Cornelius Hired August 1, 2002
OPALCO Long-term debt $20 M - Rockisland paid back $8 M
Foster Hildreth took over as General Manager of OPALCO
Long-term Debt and Capital Lease Obligations
Did you know...
OPALCO cosigned a $22,000,000 loan for Rock Island.
Did you know rock island is a for profit company? Not part of our Co Op but receiving its benefits.
In the last two year Rock Island has projected to loose $2.4M... but has lost over $8.5 Million.
Two thirds of our members are subsidizing this for profit business but not receiving its benefits.
Wow! Really? What else do we know about this project?
Who pays for this development?
Rock Island and T-Mobile each invest their own resources to a mutually beneficial plan. OPALCO members will continue to pay $3/month through December 2016 (for a total of $72/member over the 24-month loan period) to support the start-up costs of Rock Island Communications, a wholly-owned subsidiary of OPALCO.