Jacobus added that the cooperative will not file for any rate increases this year and does not anticipate any increases for 2005.
Jacobus told the crowd that Inter-County Energy is one of the fastest growing electric utilities in Kentucky and ranks among the top 300 fastest growing co-ops nationwide.
"Brisk sales and an annual growth rate of over 6 percent have contributed to favorable margins over the past year," he said.
Jacobus commended the board and employees for their commitment to the communities served by the cooperative.
"We will be active and supportive of all our communities, and most importantly, give back to the people we serve," he said.
A new headquarters will be built
A new headquarters facility for Inter-County Energy will be built.
"Our current facility is over 53 years old and has served us well," he said. "The new facility will allow Inter-County Energy to better serve our customers and be an asset to the community."
The meeting included a tribute to retired employee Lowell Wilder, who died last year. He was remembered as a dedicated employee and friend.
Those in attendance also recognized people who have served or who have family members currently serving in the military.
Specialist Melissa Brown, daughter of Mike Brown, a service technician at Inter-County Energy, was given special recognition for her military service. She serves with the Danville-based 217th Quartermaster Detachment Water Purification Unit that recently returned from serving 15 months in Iraq.
Six scholarships awarded
Inter-County awarded six $1,000 scholarships during the meeting - one from each directorial district. Six graduating seniors received scholarships: Rianne Marcum, Boyle district; Rita Dixon, Casey; Tara Jones, Garrard; Thomas "Chase" Smith, Lincoln; Sara Beth Mattingly, Marion; and Courtney Nichols, Mercer.
Six students were selected to attend the Washington Youth Tour this summer hosted by Inter-County Energy: Jessica McQuerry, Boyle County; Charlie Fox, Casey; Jessica Carper, Garrard; Jamie Brandenburg, Lincoln; Amanda Flanagan, Marion; and Amanda Pike, Mercer.
The six winners of the 'Lectric Bill Savings Contest were recognized. For Most Creative Energy Savings, the winners were: first pace, Jennifer Hubbard, Harrodsburg; second place, Willa Mae Hough, Harrodsburg; third place, Linda Sester, Crab Orchard. For Greatest Percentage of Electricity Saved, the winners were: first place, Jessie R. Herzog, Lancaster; second place, Betty Jane McGill, Lancaster; third place, Bobby Mosher, Lancaster.
A $1,000 grant was awarded to Casey County Middle School to develop an outdoor classroom for environmental studies. The classroom will serve the 400 students at the middle school, as well as those at the high school and elementaries.
Six $500 prizes were awarded to Ricky Noe, Boyle district; Laura Hankla, Mercer; Joseph T. Luckett, Marion; Priddy Properties, Lincoln; Carol Ann Lane, Casey; and James L. Hamilton, Garrard.