LUBBOCK, TX (KCBD) - Congratulations to Lubbock Power and Light management and board of directors. This week they announced they have reached their goal of $50 million in reserves. And to think, just four years ago, city management had drained this citizen owned utility to the point of bankruptcy.
Consider this: this is only good news if the money made is used to do the right thing. I say use it to benefit the owners of this electric company - Lubbock taxpayers! That means lowering electric rates and lowering the tax burden on citizens.
Remember, it was a separately created citizen board that turned this thing around, not city bureaucrats. So why not give the benefits of a well run city organization back to the people.
I'll say it again; use the money to lower electric rates and lower taxes.
It's also time we consider doing the same thing with our water department. I can only wonder if water rates would be skyrocketing if they were controlled by the same type citizen board. Think about it.
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