Document:

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                                                                  EXHIBIT 10.41

                         LOWER COLORADO RIVER AUTHORITY

                           WHOLESALE POWER AGREEMENT

                                   AGREEMENT

         This AGREEMENT, made and entered into by and between LOWER COLORADO
RIVER AUTHORITY (hereinafter called "Authority"), a corporation created and
existing under and by virtue of the Lower Colorado River Authority Act of
1934, as amended, (here-inafter called "LCRA Act"), and MCCULLOCH ELECTRIC
COOPERATIVE, INC. (hereinafter called "Distributor").

                              W I T N E S S E T H:

         The LCRA Act authorizes the Authority to sell electric power and
energy under the terms and conditions of the Act. The Act Prescribes that
such electric power and energy shall be primarily for the benefit of the
people of the area served by the Authority at the lowest practical rates.
The Distributor presently owns and operates an electric distribution system
and now purchases electric power and energy from the Authority. The
Distributor desires to continue to purchase from the Authority and the
Authority desires to continue to sell to Distributor electric power and
energy according to the terms of this agreement.

         In lieu of all preexisting and presently outstanding agreements, for
the sale and purchase of such electric power and energy, for and in
consideration of the mutual covenants and agreements herein contained, the
Authority and Distributor agree as follows:

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         1. TERM OF AGREEMENT: This agreement shall be for a term of
twenty-two (22) years from the effective date hereof and successive periods
of twenty-five years thereafter unless either party has notified the other in
writing prior to the end of the seventeenth year of the original or the
twentieth year of any succeeding term that it intends to terminate this
agreement. Immediately following the end of the sixteenth year of the
original or the nineteenth year of any succeeding term, the Authority will
notify Distributor of the right of termination.

         2. POWER SUPPLY: Beginning with the effective date of this agreement
and for the term thereof, Authority will supply electric power and energy to
Distributor for its own use and for resale to customers of its electric
distribution system, and Distributor agrees to purchase from Authority, and
Authority agrees to furnish the electric power and energy requirements of
Distributor up to the maximum number of kilowatts (Kw) as set forth in
Exhibit A, subject to all the terms and conditions of this agreement.

         The electric energy to be delivered hereunder shall be at a
frequency of approximately 60 Hertz (cycles per second) and shall be
delivered at the voltage as stipulated in Exhibit A (with reasonable
variations). The points of delivery, the delivery voltages, and the contract
loads (Kw) are set out in Exhibit A attached hereto. Changes in location of
points of delivery, voltages, contract loads, and the addition of new points
of delivery or the deletion of existing points of delivery shall become
effective upon the execution of a new Exhibit A by the parties hereto.

                                       2.
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         Each point of delivery established in the future shall be metered
and billed separately at the voltage stipulated in Exhibit A or as otherwise
agreed upon by the parties.

         It is agreed by the parties hereto that all electric power and
energy delivered and purchased under this agreement shall be consumed wholly
within the State of Texas.

         When electric power and energy is required by Distributor and is not
scheduled to be delivered by Authority from its own facilities and therefore
must be delivered or supplied by a party other than Authority, then
regardless of any other provision of this agreement which might be construed
to the contrary, the responsibility of Authority to deliver such electric
power and energy to Distributor is limited to the power and energy that is
delivered or supplied by said other party and there shall be no liability on
Authority for failure on the part of said other party to deliver or supply
the electric power and energy requirements of Distributor; however, Authority
will use diligence in exercising its rights under any existing contract with
said other party which provides that such electric power and energy is to be
delivered or supplied to Distributor.

         It is understood that if the contract between the Authority and such
other party expires prior to the expiration date of this agreement, Authority
will endeavor to work out a contract with said other party (which contract
must be satisfactory to each -- the other party, the Authority, and the
Distributor) whereby such electric power and energy can continue to be made
available to Distributor during the remainder of the term of this agreement
and if no such mutually satisfactory contract can be negotiated, then all
obligations of Authority to

                                       3.
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Distributor with respect to such electric power and energy shall cease;
provided, however, Authority will use all reasonable means to continue to
supply the power and energy requirements of Distributor.

         3. SCHEDULE OF RATES:

         A. The initial Rate Schedule attached hereto as Exhibit C,
identified as Authority's "Wholesale Power Rate Schedule WP-1", which is made
a part hereof by this reference, shall be used to determine the amount to be
received by Authority, except with respect to the minimum charges applicable
to certain delivery points now in existence for all electric power and energy
delivered to Distributor during the term of this agreement, unless during
said term there is placed in effect a revision thereof as provided in this
agreement in which event such revised schedule shall be used thereafter in
place of the initial Schedule of Rates for determining the amount to be
received by the Authority. The minimum bill provision contained in said
Schedule of Rates and Charges will apply in all cases unless a modification
thereof with respect to certain delivery points now in existence is provided
for in Exhibit A of this agreement.

            Also attached and made a part hereof is Exhibit C-1 identified as
"Surcharges". Payments thereunder to be made by Distributor to Authority
shall be limited as provided therein.

         B. All revisions or modifications of rate schedules and any
modification of the terms of this contract shall be under the circumstances
set forth and according to the procedures described in the General Terms and
Conditions of this contract. In the event of any dispute arising under this

                                       4.
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agreement with respect to the Authority's Schedule of Rates and Charges then
in effect for service rendered to Distributor, Distributor shall, during the
pendency of the dispute, pay Authority in accordance with the rates and
charges applied by the Authority in accordance with this contract. Upon final
determination of the matter the Authority will refund to Distributor the
amounts, if any, that have been determined to have been incorrectly billed.

         The rates specified herein shall be subject to a credit applicable
only to certain Distributors who are financed in whole or part by the Rural
Electrification Administration in accordance with the provisions of Exhibit B
attached hereto. This provision shall terminate on June 30, 1982, and shall
have no force and effect thereafter.

         4. NONWAIVER AND FUTURE DEFAULT. No waiver by either Authority or
Distributor of any one or more defaults by the other in the performance of
any provisions of this agreement shall operate or be construed as a waiver of
any future default or defaults, whether of a like or of a different character.

         5. PAYMENT TO THE AUTHORITY FOR ELECTRIC POWER AND ENERGY DELIVERED:
Distributor agrees to pay Authority each month for electric power and energy
in accordance with the terms and conditions of this agreement.

         6. LIABILITY: The Distributor assumes all responsibility for the
electric power and energy after delivery and agrees to protect and save
Authority harmless from all liability growing out of any injury or damages to
persons or property occurring on Distributor's System, except liability
resulting from or growing out of Authority's misconduct or negligence.

                                       5.
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         7. GENERAL TERMS AND CONDITIONS: The General Terms and Conditions
attached hereto as Exhibit D or any revision thereof which are then in effect
with respect to service rendered under this agreement are incorporated herein
by reference and are made a part of the contract.

         8. AGREEMENT NOT TRANSFERABLE: Neither this agreement nor any
interest therein shall be transferable or assignable by either party hereto
without the written consent of the other party; however, if Distributor is
financed in whole or part by the Rural Electrification Administration, it may
assign its interests herein to the United States Government, without prior
written consent of the other party. Except as herein limited, this agreement
shall be binding upon and inure to the benefit of the successors and assigns
of the parties respectively.

         9. RIGHT OF TERMINATION: Notwithstanding any other right or remedy
provided hereunder and as an additional right and remedy, in the event
Distributor fails or refuses to pay any monthly bill in accordance with the
provisions of Paragraphs 3 and 5 set out hereinabove, Authority shall have
the right upon thirty (30) days written notice to Distributor, to refuse to
deliver or supply electric power and energy to Distributor until Distributor
has made such payment.

         10. FORCE MAJEURE AND REMEDIES: Neither Authority nor Distributor
shall be liable in damages to the other for any act, omission or
circumstances occasioned by or in consequence of any acts of God, strikes,
lockouts, acts of public enemy,

                                       6.
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war blockades, insurrections, riots, epidemics, landslides, lightning,
earthquakes, fires, storms, floods, washouts, arrests and restraints of
rulers and people, civil disturbances, explosions, breakage, or accident to
machinery or other equipment, or the binding order of any court or
governmental authority which has been resisted in good faith by all
reasonable legal means. A failure to settle or prevent any strike or other
controversy with employees or with anyone purporting or seeking to represent
employees shall not be considered a matter within the control of the party
claiming force majeure.

            In the event of the exercise of force majeure under the foregoing
paragraph, the party claiming the difficulty shall promptly notify a
responsible representative of the other of the nature of the occurrence and
its expected duration so that the other party may minimize the effect of the
force majeure condition on its own system.

          No such occurrence shall relieve Distributor of its obligations to
pay for electric power and energy heretofore delivered hereunder.

         11. RETAIL RATES: It is agreed and understood that as between the
parties to this agreement and during the term thereof, Distributor shall have
the right to establish, as it deems appropriate, the rates charged by it to
any of its customers and Authority shall have no responsibility with respect
thereto; however, Distributor agrees that such rates will be sufficient to
enable Distributor to meet its obligations to Authority under this agreement.

                                       7.
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         12. LCRA ACT: In the event any provision of this agreement is found
to be in conflict with any provision of the LCRA Act, the Act shall prevail.

         13. UNIFORM RATE CLAUSE: If at any time during the term of this
agreement Authority, pursuant to a separate term of contract, should supply
electricity to any rural electric cooperative or to any municipality other
than the City of Austin and the City Public Service Board of the City of San
Antonio at a lower rate than set forth in Exhibit C Wholesale Power Rate
Schedule WP-1 during the time covered thereby and for equal demand and
consumption, for transmitted energy, and where the period of time covered by
the term of contract is substantially the same, and other conditions of
service are substantially equal, said lower rate shall be made available to
Distributor so long as such lower rate schedule shall be given under said
substantially equal circumstances to any other cooperative or municipality,
so long as this agreement is in force; it being understood that this
paragraph does not apply where power and energy is being sold on an emergency
rate, or dump rate, or inadvertent flow basis, nor to contracts with the
Cities of Austin and San Antonio.

         14. EFFECTIVE DATE: The parties hereto agree that this agreement is
effective as of June 25, 1977.

         15. APPROVAL BY ADMINISTRATOR: The parties hereto agree that this
agreement shall become effective only upon approval by the Administrator of
the Rural Electrification Administration of the United States of America.

                                       8.
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         IN TESTIMONY WHEREOF, the parties hereto have caused this agreement
to be executed and attested by their duly authorized officers, in five
original counterparts

                                       LOWER COLORADO RIVER AUTHORITY

                                       By: /s/ [ILLEGIBLE]
                                          -----------------------------
                                               General Manager

ATTEST:

/s/ Doughty L. Miller                  Date: 8-5-77
-----------------------------               ---------------------------

                                       McCULLOCH ELECTRIC COOPERATIVE, INC.

ATTEST:                                By: /s/ Delbert Connaway
                                          -----------------------------

/s/ Merle E. Taylor                    Date: 8-11-77
------------------------------              ---------------------------

APPROVED:

-----------------------------
Administrator of the
Rural Electrification
Administration of the
United States of America

                                       9.<PAGE>

                     AMENDMENT TO WHOLESALE POWER AGREEMENT

     This Amendment to the Wholesale Power Agreement between Lower Colorado
River Authority ("LCRA") and McCulloch Electric Cooperative, Inc. ("Customer"),
dated June 25, 1977, is entered into as of the 28th day of September, 1987.

     In consideration of the mutual promises set forth, LCRA and Customer agree
as follows:

     1. PERIOD OF EXTENSION. The term of the Agreement shall be extended to June
25, 2016 and the notice date shall be June 25, 2011.

     2. RESOURCE PLANNING TASK FORCE. LCRA shall establish and coordinate a
Resource Planning Task Force, at its option or at the request of a simple
majority of its customers, to assist LCRA with LCRA's preparation of its 10-year
forecast of load and resources under PURA *16. The purpose of the Task Force is
to maximize customer involvement with LCRA's system planning to efficiently and
economically satisfy its customers' needs for reliable electric service.
Customer involvement shall continue notwithstanding changes in applicable law.

          2.1  Each customer may designate a representative to nerve on the Task
               Force.

          2.2  The Task Force shall act as an advisory committee to LCRA in
               LCRA's preparation of its ten-year forecast. LCRA shale meet with
               the Task Force as necessary to obtain the Task Force's views
               before completing its draft forecast. LCRA shall submit its draft
               forecast to the Task Force for consideration. Any Task Force
               member that believes LCRA's draft forecast does not adequately
               reflect its views may furnish comments that LCRA shall submit to
               the Board along with its draft forecast.

          2.3  LCRA will make available to the Task Force the information and
               other resources necessary for the Task Force to discharge its
               function.

     3. BASELOAD AND PEAKING GENERATION CAPACITY. The Board-approved Resource
Plan, as reflected in LCRA's 10-year forecast and the statewide electrical
energy plan of the Public Utility Commission of Texas, may show that LCRA has
a need for additional base load or peaking generation capacity.

          3.1  In the event LCRA decides to seek certification of a baseload
               generation unit, a decision Customer opposes, Customer may elect
               to fix its electrical requirements from LCRA at a "Contract
               Load."

               3.1.1 Customer may establish a "Contract Load" by

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                     giving LCRA written notice of Customer's opposition within
                     90 days after Customer receives written notice of,LCRA's
                     decision to seek certification.

               3.1.2 "Contract Load" is the total rated generation capacity of
                     LCRA at the time of the notice, multiplied by the ratio of
                     energy purchased during the preceding 12-month period and
                     the total energy supply during such period. Once
                     established, a "Contract Load" may be modified when LCRA
                     decides to seek certification of succeeding baseload
                     generation units, provided such modification is determined
                     to have a system-wide benefit.

               3.1.3 Customer may purchase power in excess of the "Contract
                     Load" from sources other than LCRA, and LCRA will have no
                     duty to furnish Customer with such power.

          3.2  In the event LCRA decides not to seek certification of a peaking
               generation unit, a decision Customer opposes, Customer may elect
               to install or otherwise acquire "Customer Peaking Capacity".

               3.2.1 Customer may acquire "Customer Peaking Capacity" by giving
                     LCRA written notice at least 24 months prior to the
                     acquisition date.

               3.2.2 "Customer Peaking Capacity" shall not exceed ten percent
                     (10%) of Customer's annual coincident peak demand during
                     the preceding 12-month period.

          3.3  Except for purchases of power in excess of a "Contract Load" and
               "Customer Peaking Capacity", Customer shall not obtain electrical
               requirements covered by this Agreement from sources other than
               LCRA without first receiving LCRA's written consent, and such
               consent shall not be unreasonably withheld.

     4. RATE DESIGN TASK FORCE. LCRA shall establish and coordinate a Rate
Design Task Force, at its option or at the request of a simple majority of its
customers, to assist LCRA with LCRA's preparation of its major rate requests
under PURA *43. The purpose of the Task Force is to maximize customer
involvement with LCRA's activities on matters of cost of service, cost
allocation and functionalization, and rate design to. create just and

<PAGE>

reasonable rates for its customers. Customer involvement shall continue
notwithstanding changes in applicable law.

          4.1  Each customer may designate a representative to serve on the Task
               Force.

          4.2  The Task Force shall act as an advisory committee to LCRA in
               LCRA's preparation of its major rate requests. LCRA shall meet
               with the Task Force as necessary to obtain the Task Forces views
               before completing its draft rate filing. LCRA shall submit its
               draft rate filing to the Task Force for consideration. Any Task
               Force member that believes LCRA's draft rate filing does not
               adequately reflect its views may furnish comments that LCRA shall
               submit to the Board along with its draft rate filing.

          4.3  LCRA will make available to the Task Force the information and
               other resources necessary for the Task Force to discharge its
               function.

          4.4  The Board-approved Rate Design Plan shall be reflected in LCRA's
               major rate requests. LCRA shall support rates that acknowledge
               cost of service as a principal concern, recognizing appropriate
               functionalization of investments and allocation of costs, and
               promote the efficient use of the system. Rates shall not be
               unreasonably preferential, prejudicial or discriminatory, but
               shall be sufficient, equitable and consistent in application to
               each customer class.

     5. FINANCIAL INTEGRITY. LCRA shall request rates projected to recover all
operating expenses, debt service and debt service coverage sufficiently in
excess of the minimum coverage requirements under LCRA's priority bonds to
maintain LCRA's financial integrity. LCRA's capital structure shall include a
reasonable amount of short-term debt to take advantage of changes in the yield
curve.

     6. RIGHT OF TERMINATION. If either party shall materially breach any
provision of the Agreement, the non-breaching party shall give written notice to
the breaching party describing the material breach with specificity. The
breaching party shall have thirty days to cure the alleged breach. If the
alleged breach is not cured, the nonbreaching part shall be entitled to
terminate the Agreement effective upon thirty days written notice. This right of
termination shall be cumulative, and-shall not affect any other remedy that the
parties may have in law or equity.

     7. DURATION OF AGREEMENT. Except as expressly provided herein or
subsequently agreed to by the parties in a written amendment, all terms and
conditions of the Agreement shall remain

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in full force.

     Additionally, in consideration of the mutual promises set forth, LCRA and
Customer further agree as follows:

     1. Customer now purchases power and energy from West Texas Utilities
Company ("WTU") to serve certain portions of its load. Customer has notified WTU
that it will discontinue purchasing power and energy from WTU no later than June
Il, 1992. Upon the termination of purchases from WTU, Customer hereby agrees to
purchase and LCRA agrees to sell and deliver all power and energy required by
Customer at those points of delivery formerly served by WTU.

     2. LCRA agrees that the points of delivery for power and energy sold to
Customer pursuant to this Amendment shall be the same as the points of delivery
for Customer's former purchases from WTU.

                                     LOWER COLORADO RIVER AUTHORITY

                                     By:___________________________

ATTEST:

----------------------------

                                     McCULLOCH ELECTRIC COOPERATIVE, INC.

                                     By____________________________

ATTEST:

----------------------------

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                Effective: June 1, 1999               Revised Sheet No. 1 of 4
            EXHIBIT A OF WHOLESALE POWER AGREEMENT DATE JUNE 25, 1974
 Revisions of Sheet 1 and Total Maximum Demand Stated in Paragraph 1 of Sheet 2

                               POINTS OF DELIVERY
                         MCCULLOCH ELECTRIC COOPERATIVE
                                   Distributor
<TABLE>
<CAPTION>

                                                Contract Load
                                               (KW, NCP) Year           Estimated Contract Load
                                                   Ending              (KW,  NCP)  Years  Ending June 25

No.  Location                Phase     Season      6/25/00         2001       2002       2003       2004
<S>  <C>                     <C>     <C>           <C>             <C>        <C>        <C>        <C>

1    Brownwood Tap             3       Summer        2250          2413       2531       2657       2789
                                       Winter        2800          3000       3145       3297       3457

2    Camp San Saba             3       Summer        4950          5100       5280       5450       5600
                                       Winter        4500          5500       5600       5650       5700

3    Dutton                    3       Summer        4179          4328       446        4602       4744
                                       Winter        4800          5000       5185       5378       5578

4    Eden                      3       Summer        1660          1730       180)       1870       1940
                                       Winter        1700          1760       1810       1860       1910

5    Hext                      3       Summer        638           657        677        699        722
                                       Winter        571           598        626        656        688

6    Melvin Tap                3       Summer        1060          1080       1110       1140       1170
                                       Winter        782           804        825        850        870

7    Richland Springs          3       Summer        3320          3453       3567       3685       3806
                                       Winter        2580          2660       2740       2830       2910

8    Terry                     3       Summer        810           840        866        897        927

<PAGE>

                                       Winter        803           834        865        885        908

         Summer Totals:                              18857         19601      20295      21000      21698
         Winter Totals:                              18536         20156      20796      21406      22021
</TABLE>

Paragraph 1, Page 2 of Exhibit A
         LOWER COLORADO RIVER AUTHORITY    MCCULLOCH ELECTRIC COOPERATIVE

ATTEST:  BY:_________________      ATTEST:      BY:___________________________
              General Manager

________ DATE: ______                           _________ DATE: _________

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