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Lebanon council approves $6M electric notes and five‑year power purchase authorization
Summary
Council authorized up to $6 million in electric system bond anticipation notes for 2026 and approved a five‑year power purchase agreement framework with AMP for up to 15 megawatts (2028–2032) at a not‑to‑exceed $65 per megawatt‑hour, with staff noting market prices nearer $53–$55/MWh.
Lebanon City Council voted unanimously Oct. 28 to authorize up to $6 million in electric system bond anticipation notes and to approve an agreement framework allowing the city to purchase 15 megawatts of base electric load from American Municipal Power (AMP) for delivery between 2028 and 2032.
City staff told the council the bond anticipation notes (ordinance 2025‑103) will fund ongoing electric system improvement projects and are not new debt; staff said the city originally issued $10 million, has paid down portions of that debt and plans a 2026 issuance of notes…
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