I'm supposed to get their comments today, I thought there was a section on 
margining in the draft I sent them.  Let me investigate and I'll let you 
know.  Also, there are some seriuos legal questions regarding their authority 
to do a pure financial transaction.  I'll keep you up to date on this too.




Jason R Williams@ENRON
01/25/2001 07:50 AM
To: Tana Jones/HOU/ECT@ECT
cc: Tracy Ngo/PDX/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Sara 
Shackleton/HOU/ECT@ECT, Dave Fuller/PDX/ECT@ECT 

Subject: ISDA Worksheet: Public Utility District of Clark County, Washington  


Tana -

Attached is the ISDA worksheet for Clark County, Washington.  You will note 
that this worksheet indicates no collateral threshold, as Clark County is a 
counterparty that will require a contract where we maintain no collateral 
rights.  NOTE TO TRACY AND DAVE:  If you feel like we can get Clark County 
PUD to agree to margin rights, then we should (obviously) try to put a draft 
in front of them with a threshold and margin rights.  Please let me know your 
thoughts on this issue.


Thanks,

Jay