Dick:

Sorry that I didn't have a chance to call you again today.  After reviewing 
the appendix (Board resolution summary), I would like to request an opinion 
from EWEB's bond counsel that swap/other transaction payments are payable 
from the Operating Fund (together and in parity with other operating costs) 
and precede EWEB's debt service payments.

Also, can you please describe EWEB's Master Resolution (relevant to long term 
bonded indebtedness) as this is to be referenced in Larry Cable's legal 
opinion.

I will be back in the office on Tuesday, Jan. 2.  Have a happy new year.

Thanks.  Sara