It seems like that is the best way to go.  With the board resolution, we'll 
just need to drag our feet a little on signing the ISDA. We should go ahead 
and negotiate the document and be ready to close right after we get the 
resolution in October.  Thanks for the update.
CF




From: Sara Shackleton@ECT on 08/03/2000 03:17 PM
To: Clint Freeland/Corp/Enron@Enron
cc:  

Subject: meeting with Bob Baird

Clint:  after the meeting, Jim advised me that the ENE board resolution will 
be drafted for the Oct. meeting.  In the interim, he is convinced that only 
Enron Corp. should be a swap party to these equity swaps, forwards, etc.  I 
am going to speak with Rod Nelson (credit) and make some changes to our 
approach.  This should also make life easier negotiating with Lehman and Bear 
(from a credit perspecttive) but we'll reach an obvious stalemate when they 
ask for an Enron Corp. resolution (forthcoming after the relevant board 
meeting.  Sara