Fred Nagel, LMUD President, is not a LMUD ratepayer.
Nagel gave his utility company, PSREC, a $700,000 a year savings when he signed over LMUD customers to PSREC.
LMUD ratepayers received NOTHING
The PSREC agreement turned out to be just another corrupt contract. PSREC was literally "given" the Herlong customers. The contract was breached.
A study was done in 2001,by Power Engineers, to establish the value of these customers. LMUD has refused to release this study.