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Long-Term Debt
6 Months Ended
Feb. 28, 2013
Long-Term Debt  
Long-Term Debt

Note 6:  Long-Term Debt

 

The Company has a long-term debt line of credit through July 30, 2015 with CoBank, ACB of $60.8 million along with an additional $50.0 million, as mentioned in Note 5 above, which can be utilized for either short-term or long-term borrowing purposes.  As of February 28, 2013, there was no outstanding balance with CoBank, ACB but the Company had $64.0 million in long-term letters of credit.  The unused long-term line of credit as of February 28, 2013 was $46.8 million which can also be utilized for short-term borrowing purposes.  In addition, the Company had long-term debt outstanding as of February 28, 2013 of $50 million from a private placement of Senior Notes that occurred in September 1998 and $78.6 million from four separate issuances of Pollution Control and Industrial Development Revenue Bonds.

 

As of February 29, 2012, there was no outstanding balance with CoBank, ACB. The Company had $69.8 million in long-term letters of credit outstanding and $9.0 million of the $50.0 million additional line of credit was utilized for long-term borrowing purposes as of February 29, 2012.  The unused long-term line of credit as of February 29, 2012, was $41.0 million which could also be utilized for short-term borrowing purposes.  In addition, the Company had long-term debt outstanding, as of February 29, 2012, of $50 million from a private placement of Senior Notes that occurred in September of 1998 and $84.4 million from five separate issuances of Pollution Control and Industrial Development Revenue Bonds.