Put Option Exercise Letter Template
MRC sent a mailing to the Equity Charter Municipalities dated February 6, 2017 that provided detailed information and procedures for local exercise of the Put Option to sell municipal ownership interest in PERC, which both MRC and PERC recommend. In the case where a municipality preferred or needed to pose the question of Put Option exercise to the legislative body (i.e. town meeting) MRC provided the detailed local procedures for those cases.
MRC has since received multiple requests from member communities that wish to provide notice of exercising the Put Option by simply providing a letter to that end. The letter is available as a word document here. MRC and PERC agree that if your community chooses to sign and forward the attached model letter to the MRC before the December 15, 2017 deadline, this will be sufficient. If possible we would very much appreciate receiving local Put Option exercise notices over the next 60 days well in advance of the technical deadline.
To learn more about the Put Option, please review the joint
memo from PERC and MRC containing more information about this time sensitive issue.
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