Bill:  The attached memo was distributed to legal last week.  We have had a 
number of questions arise on the power side lately regarding financial 
transactions (ranging from short term to quarterly) with governmentals.  As 
you will see in the memo, the risks are significant.  Please let me know if 
you have any questions.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 09/21/2000 04:09 PM -----

	Brenda Whitehead
	09/11/2000 09:16 AM
		 
		 To: Alan Aronowitz/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Sandi M 
Braband/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, 
Michelle Cash/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Harry M 
Collins/HOU/ECT@ECT, Shonnie Daniel/HOU/ECT@ECT, Peter del 
Vecchio/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT, 
Barbara N Gray/HOU/ECT@ECT, Wayne Gresham/HOU/ECT@ECT, Mark E 
Haedicke/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, 
Dan J Hyvl/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT, 
Lisa Mellencamp/HOU/ECT@ECT, Janet H Moore/HOU/ECT@ECT, Janice R 
Moore/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, David 
Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Richard B 
Sanders/HOU/ECT@ECT, Lance Schuler-Legal/HOU/ECT@ECT, Sara 
Shackleton/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, 
Mark Taylor/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Steve Van 
Hooser/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT, Stuart 
Zisman/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Anne C 
Koehler/HOU/ECT@ECT, Michael A Robison/HOU/ECT@ECT, Lou Stoler/HOU/ECT@ECT, 
Robert Bruce/NA/Enron@Enron, Angela Davis/NA/Enron@Enron, James 
Grace/Corp/Enron@ENRON, Mark Greenberg/NA/Enron@ENRON, Brent 
Hendry/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron, Martin W 
Penkwitz/NA/Enron@Enron, John Viverito/Corp/Enron@Enron, Karen E 
Jones/HOU/ECT@ECT, Alan Larsen/PDX/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, 
Christian Yoder/HOU/ECT@ECT
		 cc: 
		 Subject: Municipalities Memo




per the request of Mark Haedicke/Elizabeth Sager, please see this 
attachment: