Consider a ASCII text file (lets say it contains code of a non-shell scripting language):
Text_File.msh:
spool on to \'$LOG_FILE_PATH/lo
This question has been asked in another thread, and this is the best answer IMO:
export LOG_FILE_PATH=/expanded/path/of/the/log/file/../logfile.log
cat Text_File.msh | envsubst > Text_File_expanded.msh
if on Mac, install gettext
first: brew install gettext
see: Forcing bash to expand variables in a string loaded from a file