Q: Earlier this year, the Joint Legislative Audit Committee instructed the Legislative Analyst to prepare a fiscal and policy analysis of the California Power Authority. That report was released today during an informational hearing. I have forwarded a copy of the report to Jeff. I will forward a brief overview by facsimile to San Francisco, Houston and Portland. The highlights of the report are as follows: The focus of the CPA has shifted dramatically since its inception. The CPA originally focused on purchasing peakers whereas it is now focused on DSM. There are several areas that may warrant additional legislative activity: Provide legislative oversight Establish a mechanism for using revenue bonds Clarify the CPA's eminent domain authority Clarify the power of the CPA to invest in transmission Clarify the relationships between all California power agencies In addition, I spoke to Energy Committee staff today about next year's possible activities. In their estimation, the Legislature may be forced to address some of the items in the LAO report regarding the CPA. In addition, they have to do something regarding the bonds because SBX2 18 was never sent to the Governor because of his threatened veto. They expect no bills authorizing grants or incentives due to the state's budget crunch. Senator Bowen is still interested in DA and green DA, but they see this as a second tier item. The future of DA will be dictated in part by how the CPUC addresses the undercollection.
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A: Legislative Update

Q: Kathy- I got your message. Kali has been going to the Thursday practices, with the exception of the last three weeks due to rainout, spring break and a going away party for a friend. She'll be there on this Thursday. Do you have a uniform for her? Maybe she would feel part of the team if she gets a shirt and has that for the next game. I'll try to work on her. Thanks,
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A: Soccer

Q: The reservation deadline for the October 6 boat cruise has been extended. There is still time and space available so you won't miss any of the fun! Complete the information below to make your reservation today. The HBS Club is sponsoring an event on the Star Cruiser, a 90 foot luxury entertainment yacht. Bring your spouse or a guest and enjoy an evening out with dinner and music and see the sunset and the lights of Kemah!
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A: HBS Boat Cruise - REMINDER!

Q: Here's the latest version. It looks ok to me. The most substantive aspect of it is that Calumet Power (or its affiliate) could end up the indemnity obligations under the agreement. (in other words, an entity without a lot of money to fund indemnity obligations) In my opinion this isn't important in the context of the option. Unless someone objects, I'll tell PERC that Enron is ready to go with the assignment. Kay
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A:
Option Agreement