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Enron Mail |
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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable X-From: Dasovich, Jeff </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JDASOVIC< X-To: 'bhansen@lhom.com' X-cc: X-bcc: X-Folder: \Dasovich, Jeff (Non-Privileged)\Dasovich, Jeff\Sent Items X-Origin: DASOVICH-J X-FileName: Dasovich, Jeff (Non-Privileged).pst "The Administration does not project that the State will need to make addit= ional State loans to support the DWR Power Supply Program even if DWR does = not issue its revenue bonds as planned during the 2001-02 fiscal year. DWR = projects that its funds on hand at the date of this Official Statement and = projected revenues appear to be sufficient to finance the Power Supply Prog= ram. The cash needs of the Power Supply Program depend, among other things,= on future power purchase costs, the timing and amount of revenues from pow= er sales, the availability of additional interim loans, and the timing of t= he issuance of revenue bonds by DWR. The Power Supply Act limits loans and = advances from the State under the Power Supply Act after November 15, 2001,= to amounts required for short-term cash flow purposes of no more than $500= million in the aggregate and requires repayment within 180 days. However, = the Governor has the power under the Emergency Services Act to order additi= onal loans or other advances to DWR if needed to further mitigate the emerg= ency. =09The State expects to maintain adequate cash reserves to fund its normal = operations during the 2001-02 fiscal year whether or not DWR repays the Sta= te loans during the fiscal year. The State plans to issue short-term notes = to assure that adequate cash balances are maintained. The State has regular= ly issued short-term debt in the past to meet its cash flow needs. See 'Sta= te Indebtedness-Cash Flow Borrowings.'" (California Treasurer's Office, Preliminary Official Statement, August 31, = 2001, $5,700,000,000 State of California 2001-02 Revenue Anticipation Notes= , Appendix A, p. A-4) (emphasis added.)
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