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            <StateAbbreviationCd>MS</StateAbbreviationCd>
            <ZIPCd>38637</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>ELECTRIC LINE</ServicesDesc>
        <CompensationAmt>888107</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>6</CntrctRcvdGreaterThan100KCnt>
      <ProgramServiceRevenueGrp>
        <Desc>ELECTRICITY SALES</Desc>
        <BusinessCd>221100</BusinessCd>
        <TotalRevenueColumnAmt>125072563</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>125072563</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>125072563</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>294517</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>294517</RelatedOrExemptFuncIncomeAmt>
      </InvestmentIncomeGrp>
      <GrossRentsGrp>
        <PersonalAmt>273579</PersonalAmt>
      </GrossRentsGrp>
      <RentalIncomeOrLossGrp>
        <PersonalAmt>273579</PersonalAmt>
      </RentalIncomeOrLossGrp>
      <NetRentalIncomeOrLossGrp>
        <TotalRevenueColumnAmt>273579</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>273579</RelatedOrExemptFuncIncomeAmt>
      </NetRentalIncomeOrLossGrp>
      <OtherRevenueMiscGrp>
        <Desc>FIBER LEASE</Desc>
        <BusinessCd>900002</BusinessCd>
        <TotalRevenueColumnAmt>328304</TotalRevenueColumnAmt>
        <UnrelatedBusinessRevenueAmt>328304</UnrelatedBusinessRevenueAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>328304</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>125968963</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>125640659</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>328304</UnrelatedBusinessRevenueAmt>
      </TotalRevenueGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>3753678</TotalAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>817117</TotalAmt>
      </PensionPlanContributionsGrp>
      <OfficeExpensesGrp>
        <TotalAmt>1034222</TotalAmt>
      </OfficeExpensesGrp>
      <InterestGrp>
        <TotalAmt>1285086</TotalAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>7041117</TotalAmt>
      </DepreciationDepletionGrp>
      <OtherExpensesGrp>
        <Desc>POWER COST</Desc>
        <TotalAmt>90564994</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>DISTRIBUTION/OPERATING</Desc>
        <TotalAmt>7280201</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>TAXES</Desc>
        <TotalAmt>1570509</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CUSTOMER ACCOUNTS EXPENSE</Desc>
        <TotalAmt>1055311</TotalAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>2056581</TotalAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>116458816</TotalAmt>
        <ProgramServicesAmt>0</ProgramServicesAmt>
        <ManagementAndGeneralAmt>0</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>7336776</BOYAmt>
        <EOYAmt>8706641</EOYAmt>
      </CashNonInterestBearingGrp>
      <AccountsReceivableGrp>
        <BOYAmt>7992745</BOYAmt>
        <EOYAmt>13422701</EOYAmt>
      </AccountsReceivableGrp>
      <OthNotesLoansReceivableNetGrp>
        <BOYAmt>56821</BOYAmt>
      </OthNotesLoansReceivableNetGrp>
      <InventoriesForSaleOrUseGrp>
        <BOYAmt>3041504</BOYAmt>
        <EOYAmt>1917644</EOYAmt>
      </InventoriesForSaleOrUseGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <EOYAmt>400367</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>211217578</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>70482670</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>125254759</BOYAmt>
        <EOYAmt>140734908</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsOtherSecuritiesGrp>
        <BOYAmt>2827878</BOYAmt>
        <EOYAmt>3502314</EOYAmt>
      </InvestmentsOtherSecuritiesGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>13480688</BOYAmt>
        <EOYAmt>17257230</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>159991171</BOYAmt>
        <EOYAmt>185941805</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>18334647</BOYAmt>
        <EOYAmt>22326654</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <MortgNotesPyblScrdInvstPropGrp>
        <BOYAmt>29863966</BOYAmt>
        <EOYAmt>38210240</EOYAmt>
      </MortgNotesPyblScrdInvstPropGrp>
      <UnsecuredNotesLoansPayableGrp>
        <EOYAmt>3000000</EOYAmt>
      </UnsecuredNotesLoansPayableGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>8980401</BOYAmt>
        <EOYAmt>7731865</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>57179014</BOYAmt>
        <EOYAmt>71268759</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
      <CapStkTrPrinCurrentFundsGrp>
        <BOYAmt>2494465</BOYAmt>
        <EOYAmt>1421247</EOYAmt>
      </CapStkTrPrinCurrentFundsGrp>
      <RtnEarnEndowmentIncmOthFndsGrp>
        <BOYAmt>100317692</BOYAmt>
        <EOYAmt>113251799</EOYAmt>
      </RtnEarnEndowmentIncmOthFndsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>102812157</BOYAmt>
        <EOYAmt>114673046</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>159991171</BOYAmt>
        <EOYAmt>185941805</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>9510147</ReconcilationRevenueExpnssAmt>
      <PriorPeriodAdjustmentsAmt>2363599</PriorPeriodAdjustmentsAmt>
      <OtherChangesInNetAssetsAmt>-12857</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <ConsolidatedBasisFinclStmtInd>X</ConsolidatedBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleD documentId="RetDoc3">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>2402898</OtherCostOrOtherBasisAmt>
        <BookValueAmt>2402898</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>16028021</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>3307186</DepreciationAmt>
        <BookValueAmt>12720835</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>167307179</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>61138799</DepreciationAmt>
        <BookValueAmt>106168380</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>25479480</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>6036685</DepreciationAmt>
        <BookValueAmt>19442795</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>140734908</TotalBookValueLandBuildingsAmt>
      <OtherAssetsOrgGrp>
        <Desc>CONSTRUCTION IN PROCESS</Desc>
        <BookValueAmt>16815875</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>OTHER ASSETS</Desc>
        <BookValueAmt>369542</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>DEFERRED DEBITS</Desc>
        <BookValueAmt>71813</BookValueAmt>
      </OtherAssetsOrgGrp>
      <TotalBookValueOtherAssetsAmt>17257230</TotalBookValueOtherAssetsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>CUSTOMER DEPOSITS</Desc>
        <Amt>6393830</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>OTHER CURRENT &amp; ACCRUED LIABILITIES</Desc>
        <Amt>1307819</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>CONSERVATION - TVA</Desc>
        <Amt>30216</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>7731865</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>125968963</TotalRevEtcAuditedFinclStmtAmt>
      <RevenueSubtotalAmt>125968963</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>125968963</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>116458816</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>116458816</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>116458816</TotalExpensesPerForm990Amt>
    </IRS990ScheduleD>
    <IRS990ScheduleJ documentId="RetDoc4">
      <TravelForCompanionsInd>X</TravelForCompanionsInd>
      <WrittenPolicyRefTAndEExpnssInd>true</WrittenPolicyRefTAndEExpnssInd>
      <SubstantiationRequiredInd>true</SubstantiationRequiredInd>
      <CompensationCommitteeInd>X</CompensationCommitteeInd>
      <IndependentConsultantInd>X</IndependentConsultantInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>WILLIAM K DODDRIDGE</PersonNm>
        <TitleTxt>GENERAL MANAGER</TitleTxt>
        <BaseCompensationFilingOrgAmt>336620</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>99672</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>436292</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>MARK NICHOLS</PersonNm>
        <TitleTxt>DIRECTOR OF FINANCE</TitleTxt>
        <BaseCompensationFilingOrgAmt>190057</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>68774</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>258831</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>LARRY JOHNSON</PersonNm>
        <TitleTxt>DIRECTOR OF ENGINEER</TitleTxt>
        <BaseCompensationFilingOrgAmt>182689</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>65964</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>248653</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JONATHAN COX</PersonNm>
        <TitleTxt>DIRECTOR OF SAFETY</TitleTxt>
        <BaseCompensationFilingOrgAmt>163993</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>60349</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>224342</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JAKE BELLIPANNI</PersonNm>
        <TitleTxt>DIRECTOR OF MARKETIN</TitleTxt>
        <BaseCompensationFilingOrgAmt>159773</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>60349</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>220122</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DARIN FARLEY</PersonNm>
        <TitleTxt>DIRECTOR OF CONSTRUC</TitleTxt>
        <BaseCompensationFilingOrgAmt>151530</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>52938</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>204468</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc5">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>MEMBERS OF THE COOPERATIVE ARE USERS OF ELECTRICITY PRODUCED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>A GENERAL ELECTION IS HELD TO ELECT THE BOARD AND OFFICERS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THE 990 IS PROVIDED TO THE BOARD FOR REVIEW PRIOR TO FILING THE RETURN.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS DECIDES THE EXECUTIVE DIRECTOR'S COMPENSATION AMOUNT.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN INVESTMENT OF MEMBERS 37,727 UNRELATED BUSINESS BOOK DEPRECIATION -50,584 TOTAL -12,857</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc6">
      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>NORTHCENTRAL CONNECT</BusinessNameLine1Txt>
        </RelatedOrganizationName>
        <USAddress>
          <AddressLine1Txt>4600 NORTHCENTRAL WAY</AddressLine1Txt>
          <CityNm>OLIVE BRANCH</CityNm>
          <StateAbbreviationCd>MS</StateAbbreviationCd>
          <ZIPCd>38654</ZIPCd>
        </USAddress>
        <PrimaryActivitiesTxt>FIBER</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>MS</LegalDomicileStateCd>
        <DirectControllingNACd>N/A</DirectControllingNACd>
        <ControlledOrganizationInd>false</ControlledOrganizationInd>
      </IdRelatedOrgTxblCorpTrGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>false</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>true</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>false</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>true</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>false</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>true</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>false</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>NORTHCENTRAL CONNECT</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>D</TransactionTypeTxt>
        <InvolvedAmt>3500000</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>LOAN AGREEMENT</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>NORTHCENTRAL CONNECT</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>J</TransactionTypeTxt>
        <InvolvedAmt>328304</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>LEASE AGREEMENT</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>NORTHCENTRAL CONNECT</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>O</TransactionTypeTxt>
        <InvolvedAmt>1122458</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>JOINT COST STUDY</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
    </IRS990ScheduleR>
  </ReturnData>
</Return>
