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Show IF&L4TN reach accord, sign purchase contract local governments; upgrading of the CPNational system; experienced personnel and ownership of fuel." UP & L further states,"Although UP & L has been providing CPN with 90 percent of the electricity CPN sells its customers, the Southwest Utah Cooperative Power Federation has , for some months, been attempting to establish itself to provide your electric service. However, at this time, the federation has neither a firm supply of power nor an electrical system to get power to you-and they have not made a competitive offer to CPN to acquire the system." Ben W. Agee, President of CP-National CP-National stated that the proposed sale "is a major step in implementing our long range business strategy. This sale will provide a basis for consolidating con-solidating the company's energy business by decreasing the number of rate jurisdiction and States in which it operates. The sale will further provide the resources to take advantage ad-vantage of other desirable business opportunities." Agee noted, "The sale will assure our current customers of continued quality service and it is judged to be in the best interest of our stockholders as well." UP & L in their news release state that CPN currently serves some 10,000 c customers in Utah's Kane, Washington and Iron counties and in Fredonia, Az. They state that the Federal Energy Regulatory Commission Com-mission and other regulatory authorities will have jurisdiction over the sale and must approve it. The dates of public hearings on the sale and proposed purchase will be scheduled and announced by the PSC. "Utah Power and Light Co. has ; reached agreement with CPNational for the purchase of CPN properties in southwestern Utah and northern Arizona," states a letter mailed to Cedar City residents early this week. The letter is signed by UP & L President Harry Blundell. The company has opened a temporary tem-porary office at 113 North 100 West in Cedar City. UP & L and CPN filed joint applications ap-plications with the Utah Public Service Commission and the Arizona Corporation Commission this past Tuesday in which UP & L seeks approval ap-proval to purchase CPN's utility properties in the area. . In a news release from UP & L, the company states that the application includes a contract signed by both company's boards of directors in which UP & L has agreed to pay approximately $20 million for CPN's properties and electrical operating rights in southern Utah and northern Arizona. UP&L in their letter promise to bring customers '"a reliable and firm power source; strong financial position to assure future service; rate equality-regulation by Utah Public ' Service Commission; tax benefits to |