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4 remaining electric co-ops want to quit SME

The Associated Press

The Kansas City Star

 — The four remaining members of a bankrupt electric cooperative want to quit the organization and are asking a bankruptcy judge to invalidate their power contracts with the Southern Montana Electric Generation and Transmission Cooperative.

Bankruptcy trustee Lee A. Freeman has proposed reorganizing the co-op under a 12-year plan to pay off most of an $85 million loan used to build a natural gas fired power plant near Great Falls. The plan recently appraised for $1.8 million and has seen little use.

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