10/14/2024 | Press release | Distributed by Public on 10/14/2024 09:16
The Board of Trusteesof the Murfreesboro Community Investment Trust will meet at 4:00 p.m., Wednesday, Oct. 16, 2024, at the Municipal Airport Business Center Community Room, 1930 Memorial Blvd.
Who: Board of Trustees of Murfreesboro Community Investment Trust
What: Review of Investment Policy, review of Investments with Marquette Associates, FY26 Grant Process Update
When: Wednesday, Oct. 16, 2024 - 4:00 p.m.
Where: Murfreesboro Airport
Business Center Community Room
1930 Memorial Blvd.
Murfreesboro, TN 37129
Public Comment on Actionable Items:
Individuals wishing to speak at a public meeting on "actionable items" must sign up at least six hours prior to the meeting start time by submitting your request online at https://www.murfreesborotn.gov/PublicCommentFormor by calling 615-849-2629.
Chicago-based Marquette National is serving as the Board's Outsourced Chief Investment Officer (OCIO) to provide consulting advice on responsible investment of the proceeds from the sale of the City's electric system, including the appropriate asset allocation and an investment implementation schedule
The City sold its electric distribution system operations and assets to Middle Tennessee Electric Membership Corporation (MTEMC) for $245 million with $43 million paid at closing and annual installments of $17,290,134 paid over a 15-year period with interest totaling nearly $302.4 million.
The Board of Trustees has authority and responsibility under the City Charter for the investment and disbursement of a monetary balance designed to supplement the needs of the City and to provide funding for charitable organizations that benefit the community.
Full Agenda: Below
Meeting of the Board of Trustees
Wednesday, October 16, 2024
4:00 p.m.
Murfreesboro Municipal Airport Business Center
Agenda
For City News online, visitwww.Murfreesborotn.gov.