LP&L to borrow as much as $105 Million - KCBD NewsChannel 11 Lubbock

11/29/09

LP&L to borrow as much as $105 Million

LUBBOCK, TX (KCBD) - Lubbock Power and Light could borrow up to $105 million.  City Council is expected to approve the debt on Wednesday. The City Council agenda says the money will be used to improve LP&L's electric distribution system.

Mayor Tom Martin says $87 million of the $105 million will be used for LP&L's purchase of Xcel's assets in Lubbock. LP&L is not obligated to borrow all $105 million if the Xcel deal is not finalized.

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