Board of Trustees for the Murfreesboro Community Investment Trust to Meet Tuesday


Murfreesboro, Tennessee — The Board of Directors of the Murfreesboro Community Investment Trust will meet on Tuesday at the Municipal Airport Business Center. This will be the first meeting to be held on managing the proceeds from the sale of the Murfreesboro electrical division.

Middle Tennessee Electric acquired Murfreesboro Electric for $245 million in June 2020. At closing, Middle Tennessee Electric paid his $43 million down payment and over 15 years he agreed to annual installments of just over $17.2 million. After factoring in interest, the sale is valued at approximately $302.4 million.

Under the City Charter, the Board of Trustees has the power to manage the proceeds from the sale of the City’s electrical distribution system in the “long-term best interest of the citizens.” The expenditure of future funds remains a decision of the Murfreesboro City Council.

The meeting will be held on Tuesday (January 24, 2023) in the Murfreesboro Airport Business Center Community Room.


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