I'm trying to revise Annex A.  Mike Etringer (in Portland) would like for 
this to go out today.  I'm leaving at 4 pm.  Thanks.  SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/01/99 02:35 
PM ---------------------------
   
	
	
	From:  Christopher Smith                           10/01/99 12:28 PM
	

To: Sara Shackleton/HOU/ECT@ECT, Marie Heard/HOU/ECT@ECT
cc: William S Bradford/HOU/ECT@ECT, Michael Etringer/HOU/ECT@ECT 
Subject: Deseret Generation & Transmission Co-Operative.

Attached is the credit worksheet for the captioned.  Also attached is a word 
document which provides the credit definitions.  Sara or Marie, would you 
kindly provide me with the legal risks of entering into financial swaps with 
Deseret, a Utility/Co-operative domiciled in Utah and engaged in the retail 
sale of electric energy in Utah Arizona, Nevada, and Wyoming, and the 
implications this may have, if any, on our ability to enforce our remedies 
under this contract as well as take hold of our collateral. Separately, could 
you comment on any role the PUC or FERC may have associated with financial 
swaps, i.e.: approvals of the document and/or each transaction under this 
document.  

Thank you very much.  Sara, I understand you may not have time to answer the 
preceding inquiries prior to leaving for vacation.  Feel free to call me on 
such after you get back.  Please feel free to phone me with any 
comments/question.  Also, please provide me a complete copy prior to sending 
out to the customer.

Christopher
Ext. 33565