The whole coal thing not only seems shady, but also is unraveling a convoluted mess underlying it. I thought the HGS was bad enough. Then, I started figuring out ECPI (discussed on ecity weblog). Now you are bringing up another scary issue.
According to the recent study, it was commissioned by the City, to see if ECPI (the City's power broker) would finance 25% of HGS for SME.
Which I understand to mean that ECPI does what the City tells it to do, and spends the City's money. SME is the joint venture of which the City is only 25%. It has nothing to do with protecting the City's interest.
But reading what you disclosed, the City has turned over a great deal of power (not electric power) to SME, even though it has no control (only a 1/4 voting share).
Which leads me to conclude that the City has no clue what it is doing.
http://www.ci.great-falls.mt.us/
...120605_04_A.pdf
I am not sure how this has changed or evolved since Dec. 5 2005.
(1)the bonds are valid and binding obligations of the City.
I don't understand, either, but I am becoming more and more convinced that no one does. At least no one on the side of the citizens of GF.
Commenting by HaloScan
