ATLANTA -- The Sebring, Fla., Utilities Commission is likely to reach final agreement soon on its sale of assets to Florida Power Corp., allowing it to pay off $91 million of outstanding bonds and close down operations by mid-1992, the commission's financial adviser said yesterday.

James Lentz, the adviser, said Florida Power last week verbally agreed to pay $11.4 million for the utility's remaining assets, its distribution system. The new offer compares with an original bid of $10.2 million, he said. In addition, he noted, Florida Power agreed to offer a loan to the commission at 8% interest rather than the 9.5% originally offered.

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