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MURFREESBORO, Tenn. — On Wednesday, October 13, the Murfreesboro City Council discussed a framework to manage the revenue stream resulting from the sale of the City’s electric distribution system. Council members outlined particulars of the framework during a Special Workshop meeting at the Municipal Airport. Councilwoman Madelyn Scales Harris was the only member of the Council not in attendance.In June 2020, the City sold its electric distribution system to Middle Tennessee Ele .
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The five-member Community Investment Study Group also includes City Councilman Rick LaLance
Council appoints four of the nine community applicants to the MED proceeds study group
Former Christy-Houston Foundation executive director Bob Mifflin also joins study group
The Murfreesboro City Council appointed Womack Wednesday to the new Community Investment Study Group along with Bob Mifflin, former banker and executive director of the Christy-Houston Foundation; Amy Farrar, a local attorney; and Eric Meriwether, a financial advisor at Northwestern Mutual.
They will serve alongside Councilman Rick LaLance, who s also an investment adviser and vice president with Pinnacle Financial Partners. The group will offer recommendations on how to use the $302.4 million from last year s sale of MED to Middle Tennessee Electric. Payments to the city are spread over 15 years.
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