A one-million-dollar loan to finance the repairs of the turbine generator at the CMU Power Facility received City Council approval on Monday. CMU General Manager Matt Hopper addressed the council about the opportunity to borrow funds from the Missouri Power Energy Pool, or MoPEP.
Borrow $1m for about 5 months.
Hopper explained how the loan would be repaid.
Would take the energy credit of $202,000 am month for five months.
The council approved the financing agreement on a 4/0 vote.