Greenville – The Greenville City Council has approved a settlement of a pending lawsuit with the Texas Municipal Power Agency.
Mayor Tom Oliver announced a "global compromise settlement agreement" of the suit Tuesday. The GEUS board is also scheduled to consider the agreement Thursday.
The TMPA is comprised of the electric utility systems in Greenville (GEUS), as well as the cities of Bryan, Garland and Denton and operates the Gibbons Creek coal-fired electric generating plant, which provides power to the communities.
The City of Bryan and the TMPA have been involved in legal wrangling for months concerning a September 2008 move by the TMPA board to refinance more than $360 million in existing debt concerning the plant.