Miss. County Says $286M LSP Sale Will Lead To Tax Losses

Law360, Wilmington (September 11, 2012, 6:17 PM EDT) -- Panola County, Miss., on Monday objected to the planned $286 million sale of bankrupt power plant operator LSP Energy LP to a local utility, saying the deal could starve the impoverished county of crucial tax revenue.

The buyer, South Mississippi Electric Power Association, is exempt from certain taxes under state law and the rural county — joined by the city of Batesville — wants added protections in the deal to cushion the loss of one of its most significant taxpayers, according to an objection filed in...
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