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Enron Mail |
Great start.
-----Original Message----- From: =09Russo, Gavin =20 Sent:=09Monday, October 29, 2001 8:34 AM To:=09Hayslett, Rod; Fossum, Drew Cc:=09Soldano, Louis; Howard, Kevin A. Subject:=09RE: mortgage Sensitivity:=09Confidential Our payment system summarizes tax liability by county for each pipeline com= pany. It also summarizes the taxable value by county. However, this number = includes real and personal property. We currently have the 2000 totals in o= ur system and are putting in the 2001 numbers. We have yet to finalize 2001= assessments in the state of Iowa.=20 Is this what you need!!!!!! Gavin -----Original Message----- From: =09Hayslett, Rod =20 Sent:=09Monday, October 29, 2001 6:44 AM To:=09Fossum, Drew Cc:=09Soldano, Louis; Russo, Gavin; Howard, Kevin A. Subject:=09RE: mortgage Importance:=09High Sensitivity:=09Confidential We have done it before, in fact it was the way all of the pipes were origin= ally built, but not for short term stuff. Gavin Russo can probably help = us with his property tax background. Lou, please try to get hold of Gavin= or whomever he believes should take part in the discussion.=20 -----Original Message----- From: =09Fossum, Drew =20 Sent:=09Sunday, October 28, 2001 8:44 PM To:=09Hayslett, Rod Cc:=09Soldano, Louis Subject:=09mortgage Here's a little more detail on the voice mail I left you earlier. The bank= s want more than just secured debt. They want a mortgage on all of TW and = NNG's real property. That's right, they want a filing with every county co= urthouse where NNG and TW own assets. I want to talk to you tomorrow befor= e Stan's meeting about why that is just a terrible idea. In short, at the = same time we are doing this big loan and cash infusion into ENA to "calm th= e market" we will simultaneously have dozens of right of way guys and local= real estate lawyers crawling all over the place doing something I don't th= ink any pipeline has done before (at least not in my memory). Nevertheless= , I want to be able to move forward if there is no alternative. For us to = prepare mortgage documents we need (I think) to have approximate property v= alues by county. Do we have this info somewhere? Are ad valorem tax value= s kept by county? I don't think our FERC books will be much help on this. = Lou is getting Johnny McGee and some folks together after Stan's meeting t= o talk to me and the Vinson and Elkins folks about how we can do this proje= ct if we have to. It will be a challenge, particularly in the 2 week timet= able they are talking about. Talk to you tomorrow. DF
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