The State - News from Oct. 2, 1989
The president of the Sacramento Municipal Utility District board suggested that the utility should seek a “friendly takeover” by Pacific Gas & Electric. Joseph Buonaiuto said SMUD is hopelessly in debt and will remain so in the future because voters in June voted to close the Rancho Seco nuclear power plant. Any takeover would have to be approved by the district’s voters. Buonaiuto said that since voters closed the nuclear plant, the utility has had to buy power from other agencies.
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