Corporate Debt And Lubbock Water,Power&Light

  City of Lubbock is over $1.5 BILLION in debt. That's principal&interest combined. It's thought that the electricity&water projects at LP&L are $500 million in debt alone. The last two LP&L budgets have shown that more debt was taken out than retired. Debt is not voted on by the people in most cases,the format is called "Certificates of Obligation". Due to the expansion of the city limits both north&south LP&L has had to borrow more money than revenue from bills will generate. LP&L is paying on a $500 MILLION mortgage. The sinking of lines in many areas and replacement of water&sewer lines also involves "more debt". LP&L has two choices,go deeper in debt and gouge both rates and get property and sales tax subsidies OR "be sold to the private sector". The latter would take a vote in an election.
  Running an ever expanding business is neither cheap or easy.