Among other things they want an unlimited collateral threshold, and moreover 
Sara has quite a legal objections to there format.  They have a loosely 
written ISDA with J Aron, although Goldman provides them financing, so this 
ISDA can be loosely written because they have recourse on the financing side.

Russell

---------------------- Forwarded by Russell Diamond/HOU/ECT on 11/21/2000 
10:34 AM ---------------------------
   
	
	
	From:  George N Gilbert                           11/21/2000 10:25 AM
	

To: William S Bradford/HOU/ECT@ECT
cc: Russell Diamond/HOU/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT 
Subject: OUC

Bill, could Fred and I have a meeting with yourself and Russell to discuss 
credit provisions for Orlando Utilities Commission.  We are trying to 
finalize a master swap agreement.  OUC wants 4 counterparties to hedge with 
and they have requested Enron be one of them.  We can go into particulars 
when we meet.

Thank You for your time.
GNG