City of Murfreesboro, TN

10/14/2024 | Press release | Distributed by Public on 10/14/2024 09:16

Board of Trustees of Community Investment Trust meeting Oct. 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

  1. Public Comment on Agenda Items Information
  2. Approval of Minutes Action
  3. Consider Modification of Investment Policy Action
  4. Review of Investments - Marquette Associates Information
  5. FY26 Grant Process Update Information
  6. Other Business Information/Action
  7. Future Meetings Action
  8. Adjournment Action

For City News online, visitwww.Murfreesborotn.gov.