The Murfreesboro City Council will hold a special meeting Dec. 5th to hear a presentation on the potential sale of the City's Electric Department to Middle Tennessee Electric Membership Corporation. As with other council related meetings, it will be open to the public. The Council will meet in the Council Chambers of the City Hall.
City Manager Craig Tindall will head the meeting to talk about the possible sale of the utility provider. A presentation will allow residents to examine the pros and cons of such a sale.
Murfreesboro Mayor Shane McFarland told WGNS...
The funds from the sale would reportedly go to fund other projects in the city...
A press release sent to media by the City of Murfreesboro stated, "Staff of the two utilities have worked to analyze the transaction and the benefits to the ratepayers and the City's citizens."
Mayor McFarland said that those who work for Murfreesboro Electric would retain their jobs...
Voting "YES" or "NO" on the transaction will not take place at the December 5th meeting. City Council will deliberate, consider, and decide on the transaction at a later public meeting. The Middle Tennessee Electric Board of Directors will also consider the transaction. If Council and the Board decide to move forward, the transaction will be submitted to the Tennessee Valley Authority (TVA) for analysis of the impact to electric rates, if any, and approval of the transfer of the City's contract.
If everything is approved in the future, the city along with Murfreesboro Electric will begin the process of merging operations with Middle Tennessee Electric.
Outline:
Murfreesboro Electric is a department of the City of Murfreesboro and is overseen by the Power Board and the City Council. MED operates under a contract with The Tennessee Valley Authority (TVA), a federally chartered corporation, which generates all of the electricity distributed by MED to its 67,000 customers. Middle Tennessee Electric Membership Corporation is the largest cooperative in the TVA system and the third largest in the U.S. with nearly 230,000 customers. MTEMC also purchases all of the electricity it distributes from the TVA.
Meeting Date: December 5, 2019
Meeting Time: 5:00 PM
Location: Murfreesboro City Hall / Council Chambers
Address: 111 West Vine St. - Murfreesboro, TN 37130