Officials with the Atlantic Municipal Utilities are pleased to report Moody’s Investor Services has assigned an A1 rating to AMU’s’ proposed $7.3 million Revenue Bonds. Moody’s Investors Service assigned the A1 rating to AMU’s $4.8 million Electric Revenue Refunding Capital Loan Notes, Series 2015A and $2.5 million Electric Revenue Capital Loan Notes, Series 2015B.

Among the items cited in Moody’s report were AMU’s sound financial operations resulting in strong coverage levels, a modest debt burden and management’s conservative budgeting approach. AMU General Manager Steve Tjepkes says the positive assessment and rating will help ensure the lowest available interest costs for the upcoming debt issuance.  According to Tjepkes, “Industry wide, electric utility credit ratings have been declining for a number of years, so for AMU to be able to continue maintaining an A1 credit rating is something we should be proud of. Our relative small size and our concentration in coal-fired generation are the two characteristics that keep us from getting a higher credit rating.”

The proceeds from the Series 2015A Notes will advance refund AMU’s currently outstanding Series 2007 Notes for an expected savings of approximately $250,000. The Series 2007 Notes have interest rates of approximately 4% while the replacement 2015A Notes will have an average rate of less than 2%.

The proceeds from the Series 2015B Notes will finance current improvements and extensions to the electric system, including replacement of the control system on AMU’s local gas generator and AMU’s share of the costs of improvements at the Walter Scott, Jr. Energy Center Unit 3 facilities in Council Bluffs.

Moody’s Investors Service provides financial research on bonds issued by commercial and government entities and ranks the creditworthiness of borrowers using a standardized ratings scale.

(Press Release)

The American Public Power Association has released its latest report on electric rates charged by all of the electric utilities throughout the U.S.   Based on the report, of the 182 electric utilities operating in the state of Iowa, Atlantic Municipal Utilities (AMU) ranks as the eighth lowest cost provider when comparing the average cost of electricity charged to all of AMU’s consumers. In addition, when comparing the rates charged to residential consumers, there were only three electric utilities in Iowa with a lower residential rate than AMU.

Jennifer Saathoff, AMU Comptroller, says “We were very pleased to see the results of the latest rate comparisons among electric utilities. Iowa has among the lowest electric rates in the U.S. and for AMU to be among the lowest cost providers in the state is something that benefits all of us.”

AMU says increased costs to meet stricter environmental and regulatory requirements, especially at the coal-fired Walter Scott, Jr. Energy Center Unit 3 plant in Council Bluffs, has put upward pressure on the electric rates AMU charges local consumers. AMU is a 2.5% owner in the plant which provides approximately 70% of the energy needed to meet local consumer demand. Most of the remaining power to service our area is provided through purchase power contracts with Western Area Power Administration, for hydro-generated electricity, and Missouri River Energy Services, located in Sioux Falls, SD. Atlantic’s local generation includes a dual fuel, 4.5 MW, Nordberg diesel generator and a 10 MW, low-NOx dual fuel natural gas generator. The local generation is utilized primarily to meet capacity and energy reserve requirements, emergency generation, and occasional energy sales.

AMU provides electrical service to 3,953 residential and commercial consumers within the city of Atlantic and another 670 residential and commercial consumers in the surrounding rural area.

The American Public Power Association (APPA), based in Washington, D.C., is a national service organization representing the unified interests of the nation’s more than 2,000 community-owned municipal electric utilities. Collectively, municipal utilities serve more than 48 million Americans.

(Press Release)

Montgomery County 4-H and Extension will be holding early-out Wednesday fun sessions during the month of April. “STEM Kids!” is a month of sessions held on Wednesday’s for 4th and 5th grade youth to learn about science, technology, engineering, and math! Each week the session will be held at the Montgomery County Fairgrounds white building from 2 – 3:45PM. Youth will learn about different aspects of STEM, learn about technology & even get to try out lots of fun experiments!

STEM Kids is open is all youth grades 4th and 5th. STEM Kids sessions will be on the following dates: Wednesday, April 8th; Wednesday, April 15th; Wednesday, April 22nd; and Wednesday, April 29th.

The month of April sessions fee for 4-H members will be $10.00 and non-members $15.00. Registrations are due to the Montgomery County Extension Office, 400 Bridge Street, Suite 2, Red Oak, Iowa 51566, by Monday, April 6th. Officials say if there is anything you would like to learn more about, see a presentation on, or attend a workshop for, we are always open to ideas and would love to hear your interests!

For any other questions regarding 4-H contact Hallie at the Extension Office (712) 623-2592 or email hpeck@iastate.edu.