Council to authorize $87 million debt for LP&L, Xcel - KCBD NewsChannel 11 Lubbock

8/8/10

Council to authorize $87 million debt for LP&L, Xcel

By James Clark | email

LUBBOCK, TX (KCBD) - Lubbock's buyout of Xcel is just about complete.  The City Council is expected to approve borrowing $87 million this week so that Lubbock Power & Light can purchase the consumer portion of Xcel Energy's business inside the city of Lubbock.  The deal has Texas regulatory approval but Xcel must get approval from the state of New Mexico, which is still pending. 

On a related note, the Council is expected to approve borrowing $41 million on Thursday for the Lake Alan Henry pipeline project.

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