Replies to post #19907 on U.S Fuel Corp. (fka USFF)

[LB]

Is that correct, CqrtDOC, we "temporarily" have the $625,000 and it's not "permanent" until we get the other funding?

[docshazam]

I must agree with you...though I do not have proof or confirmation that the other money has been granted...but there are indications that it is going to happen....KY people know that this money was attached to the courthouse and one reason for the delay in granting this money was to make sure that NSOL gets the other money....

I guess we all have to wait it out....but my crystal ball is speaking volumes for the future....

[5years]

Sorry Gator but your memory is a lot fuzzy:) The $625,000 is part of the Coal Severance Money the state grants back to the Counties that get a % share of that Severance. Rick Newman (the County Judge) who has been involved with Brent Yonts (State Rep) from the beginning worked out a deal in a Bill sent to the Governors Office that was just passed through and sent to public records with the Sec of State and stamped. The $625,000 is important as it signifies State interest in Kentucky Fuel Associates overall. The $625,000 remains KFS's to keep (it must be used as the have used it, for development of CTL) if the State does not I repeat does not give KFA any more money. The original deal recently repeated in the 8K reminds us that FFI/NSOL have an agreement that states KFA must come up with $2,000,000 of which the $625,000 is part of. If in fact KFA gets $2M+ from the state then and only then do they have to return the $625,000 to the County of Muhlenberg. If the state passes the money remains KFA's to transfer as they have to help off-set their funding requirements to FFI/NSOL for the $2M. If KFA receives funding from other sources then they now only have to come up with the difference of the $625,000 and the $2M, I.e. $1,375.000. In any event KFA still has to come up with $2M for their deal with FFI/NSOL.

There is a lot going on here, more than meets the eye. Do your research.