The Board of Trustees of the Murfreesboro Community Investment Trust is scheduled to hold a meeting on Wednesday, October 16, 2024, at 4:00 p.m. The meeting will take place at the Municipal Airport Business Center Community Room, located at 1930 Memorial Blvd., Murfreesboro, TN 37129.
During this meeting, the Board will review the Investment Policy, discuss investments with Marquette Associates, and provide an update on the FY26 Grant Process. Marquette National, based in Chicago, serves as the Board’s Outsourced Chief Investment Officer (OCIO). They provide consulting advice on the responsible investment of proceeds from the sale of the City’s electric system, including asset allocation and investment implementation.
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In 2024, the City sold its electric distribution system operations and assets to Middle Tennessee Electric Membership Corporation (MTEMC) for $245 million. This included an immediate $43 million payment at closing, followed by annual installments of $17,290,134 over 15 years, with interest totaling nearly $302.4 million.
The Board of Trustees is tasked with the investment and disbursement of these funds according to the City Charter, aiming to supplement the City’s needs and provide funding for charitable organizations benefiting the community.
Public comments on actionable items are welcome. Interested individuals must sign up at least six hours before the meeting by submitting a request online via the public comment form or by calling 615-849-2629.
The meeting agenda includes approval of minutes, investment policy modification considerations, a review of investments with Marquette Associates, an update on the FY26 Grant Process, and discussions on other business matters. For further information, visit www.Murfreesborotn.gov.
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Alan Farley Discusses 2024 Election Plans
Alan Farley, Rutherford County‘s Election Administrator, appeared on “The Insider” to discuss the 2024 election, highlighting early voting, absentee ballots, and election integrity. Early voting in Rutherford County will occur from October 16 to 31, 2024, with absentee ballots due by November 5. Voter ID is required, and new polling locations have been added to accommodate population growth. Tennessee’s election integrity has been highly rated, and Farley anticipates a 72% voter turnout. More information and the podcast episode are available through various platforms and city resources.