State Reimbursement

We received confirmation today from the Arkansas Facilities and Transportation Department that our grant for reimbursement on the new facility has been approved in the amount of 3.766 million. A final approval will be made when a visiting team confirms that it is a wise and prudent use of state money. This amount is 47.5 percent of the total cost of the facility. We have our financial advisors at Stephens Inc. from Little Rock tentatively working on the process to structure another election to lower our millage by approximately 2.5 mills. This will honor a committment the board and administration made before the election to apply the reimbursement toward our debt to lower the millage rate.