Governor Mary Fallin today announced that she is suspending a taskforce designed to study the operations of the Grand River Dam Authority. Fallin said that while she still supports the mission of the taskforce, its work might unintentionally and negatively affect the GRDA’s future bond ratings.
The GRDA board is expected to vote as early as this Wednesday on the creation of a new natural gas-fired power plant. The project, estimated to cost $300 million, would be paid for by bonds let through the GRDA.
GRDA board members previously delayed voting on the new power plant at Fallin’s request. In July, the governor asked board members to take more time to review the issue and to wait on the recommendations of an independent study. They did so, and Fallin says she is now satisfied that GRDA leadership has done their due diligence and is able to make an informed decision.
Fallin said her decision regarding the taskforce was made after hearing concerns from GRDA leadership about unintended consequences related to bonds.