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PRINCETON
ELECTRIC
PLANT
BOARD
ESTABLISHED:
AUGUST
18,
1958
SERVICE
SINCE
JULY
15,
1961
In
1961
the
people
of
Princeton,
after
a
community
election,
brought
the
Princeton
Electric
Plant
Board
(EPB)
into
being.
It
was
not
that
the
people
of
Princeton
could
not
get
electricity
in
their
community
any
other
way.
They
already
had
electric
power
from
an
investor
owned
utility.
Rather,
they
decided
that
electric
power
had
become
such
an
important
commodity
for
the
future
of
Princeton
it
should
be
come
democratized,
made
cheap
and
available
to
all.
That
vision
was
obviously
right
on
the
mark
for
the
people
of
Princeton.
Since
the
creation
of
the
EPB,
the
availability
of
an
ample
supply
of
electric
power
has
improved
the
lives
of
the
people
of
Princeton
in
ways
not
even
imagined
by
those
early
visionaries.
The
early
idea
of
establishing
a
municipally
owned
service
to
provide
low
cost
lighting
actually
provided
much
more
than
that.
The
philosophy
of
using
local
people
to
master
the
technology
of
electric
power
and
sell
it
to
local
people
at
cost
based
rates
kept
millions
of
dollars
in
the
local
economy
over
the
last
forty
years.
That
money
and
local
expertise
combined
with
the
robust
flow
of
electricity
and
access
to
the
West
Kentucky
Parkway
to
create
a
vibrant
economy.
Industries
and
businesses
were
attracted
to
Princeton’s
readily
accessible
and
aggressively
priced
electric
power
network
in
the
same
fashion
that
industries
sought
out
of
Louisville
and
Nashville
for
their
ready
access
to
rivers
in
earlier
times.
Historical
Timeline
August 18,
1958 - City of Princeton Ordinance declaring the desire and intention of
the City to accept and operate under the provisions of KRS Section
96.550 et seq., and further authorized the Mayor of said City to appoint
a Board, subject to the approval of appointments by City Council as the
governing body of said City, and responsive thereto there has heretofore
been duly and lawfully created an Electric Plant Board of said City
which has been duly organized and pursuant to said Ordinance is now
functioning on behalf of said City with respect to the acquisition of a
municipal electric plan.
September 8,
1959 - City of Princeton adopted an Ordinance declaring it desirable
that said City acquire by condemnation or eminent domain proceedings the
municipal electric plant then serving the City and at an election duly
called and held in and for said City on November 3, 1959, a majority of
all the qualified voters of said City voting at said election on the
question voted in favor of said City acquiring by eminent domain
proceedings from Kentucky Utilities Company an electric plant and issue
revenue bonds in a n amount sufficient to pay the entire damages and
cost of such acquisition.
December 1,
1958 – City of Princeton passed an Ordinance to borrow the sum of Five
Thousand ($5,000) dollars from the First Bank and Trust Company,
Princeton, Kentucky for the purpose of lending said money to the
Electric Plant Board of the City of Princeton, Kentucky. The purpose of
said loan to the Electric Plant Board of the City of Princeton is to
enable said Electric Plant Board to proceed under KRS 96.550.
1960 -
McWhorter and Franklin Engineers of Nashville, Tennessee hired by
Princeton Electric Plant Board to necessary to issue electric revenue
bonds for the purpose of purchasing the electric plant for the City of
Princeton, Kentucky.
July 15,
1961 – Princeton Electric Plant Board purchased electric plant from
Kentucky Utilities.
October 9,
1961 – Princeton Electric Plant Board adopted resolution providing for
issuance and sale of Electric Plant Board Revenue Bonds to the amount of
$750,000 for the purpose of acquiring such municipal electric plant an d
placing same in municipal operation, a certified copy of which
Resolution has been submitted to this City Council and duly examined and
considered.
October 9,
1961 – City Council passed Ordinance ratifying Princeton Electric Plant
Board Resolution to issue $750,000 revenue bonds to purchase the
electric plant for the City of Princeton.
November 25,
1961 – Princeton Electric Plant Board conducted Special Meeting .
Princeton EPB voted unanimously to trade the 1957 Ford truck be traded
in at Trice Hughes’ Chevrolet Company and adopted the Social Security
Program for employees. Present were E. L. Williamson, Rumsey Taylor,
Jr., Fredrick Olszeqski, Carl Cunningham, and Lacy Cunningham and Mr.
Tilley.
FY2001 - Princeton
EPB has grown with the community and distributes more than 100,000,000
kWh to residential, commercial, and industrial customers in the
community. PEPB's system takes delivery from TVA at 161-kV and
distributes power to more than 4,000 customers from two 30-MW
Substations at a high level of reliability. PEPB's system
availability has be more than 99.999% in the year.
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