Oregon.

Two citizens groups in Oregon are spearheading yet another election campaign to close the Trojan Nuclear Electric Plant, which was partly financed by municipal bonds.

The groups recently submitted petition signatures to the Oregon secretary of state's office so their two separate proposals may qualify for the Nov. 3 election.

Oregon voters defeated previous attempts to close the Trojan plant in 1986 and 1990.

Municipal bonds sold by the Eugene Water and Electric Board provided partial financing for Trojan, a majority of which is owned by private utilities.

The Bonneville Power Administration secures the debt in exchange for an interest in 30% of the plant's output. Bonneville has said that debt service on the bonds would continue to be paid, no matter what happens in such elections.

Opponents of the plant want it closed because of their concerns about nuclear waste storage and potential earthquake damage.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER