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City exploring value of electric utility

The Fredericktown City Council met in closed session following its work session Monday night.

The agenda stated the closed session was for a contract matter. During the closed session, a  motion was made by Ward III Alderwoman  Loretta Brown with a second by Ward II Alderman Phil Wulfurt to explore the fair market value of the City’s electric utility and the potential benefits to the city of placing it on the market.  A roll call vote on the matter confirmed Wulfert, Loretta Brown, and Ward III Jim Miller voting in favor. Ward II Alderman Rick Polete, and Ward I Aldermen Paul Brown and Harold Thomas voted against. Mayor Kelly Korokis broke the tie with a vote in favor of exploring the fair market value.

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