Eversheds Sutherland Coop Law Blog
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Missouri City Approves Coop’s Power Plant Purchase Option

The City of New Madrid, Missouri, approved Associated Electric Cooperative Inc.’s (AECI) option to purchase a power plant prior to the expiration of an existing agreement between AECI and the city.  AECI will pay a total of $100 million over the term of the option agreement in order to acquire the city’s interest in the plant, with the first payment of $25 million due September 1 of...