Springfield, Mo. voters approve power plant bond
Springfield, Mo. – Voters in Springfield, Missouri yesterday approved a ballot question that would let a local utility issue $615 million in bonds to pay for a new coal-fired power plant.
This was the second attempt by City Utilities to pass the measure; it failed two years ago. Results from Tuesday show the bond gaining 59% approval. Turnout was about 18% of the 98,000 registered voters.
The plan would increase customers' rates by 16%, starting in 2010 and lasting until the debt is paid off in 30 years.
The money would fund most of the projected $697 million cost of the building, a 300-megawatt plant dubbed Southwest-Two. It would add to an existing 820-megawatt capacity.
City Utilities says it needs more power as the Springfield area grows and households use more energy.