Board approves more than $250,000 for Lee Creek Estates development

The Sallisaw Municipal Authority (SMA) at its Monday meeting approved spending $251,089.89 for the purchase of transformers and other materials for development of Lee Creek Estates, a residential subdivision being built east of Carl Albert State College.

The SMA board also approved leasing the rodeo grounds to John Perry Wickett for a Oklahoma Junior Rodeo Association event scheduled for April 1-2. In addition, the city manager, city clerk and city attorney were given authorization to finalize details of insurance for the rodeo. The board’s approval is contingent upon Wickett providing acceptable details of insurance coverage.

The board also approved reinvestment requests for SMA and Cemetery Fund certificates of deposit, both with National Bank of Sallisaw for 273 days at 4.06% interest.

The board received an update regarding the Grand River Dam Authority power cost adjustment, which indicated that the April PCA will be the lowest in the past four months. The April rate will be $0.03742 per kWh, which is down slightly from March’s PCA of $0.03746. February’s PCA was $0.03822, and January’s PCA was $0.03806. Sallisaw City Manager Keith Skelton told the board he expects the GRDA PCA to remain above $0.035 for the next several months. GRDA’s PCA rate trends in conjunction with the natural gas index, along with the previous month(s) under/over recovery of the GRDA PCA. The excess cost of the PCA, not included in the city base rates, is calculated and passed on to city customers as the Cost of Power Base Adjustment (CPBA) charge.

Sallisaw Library Authority

The Sallisaw Library Authority on Monday approved reinvestment requests for the SLA and SLA-Tubbs certificates of deposit, both with National Bank of Sallisaw for 273 days at 4.06% interest.