Message-ID: <31906584.1075845880073.JavaMail.evans@thyme>
Date: Tue, 12 Sep 2000 02:55:00 -0700 (PDT)
From: barton.clark@enron.com
To: kay.mann@enron.com
Subject: Re: Conn Fuel Cell
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X-From: Barton Clark
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Response re my inquiries re accounting treatment.
----- Forwarded by Barton Clark/HOU/ECT on 09/12/2000 09:55 AM -----

	Scott Healy
	09/07/2000 12:26 PM
		
		 To: Barton Clark/HOU/ECT@ECT
		 cc: Jeffery Ader/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Heather 
Kroll/HOU/ECT@ECT
		 Subject: Re: Conn Fuel Cell

Because ENA is getting a full prepayment of the turn-key construction amount, 
I don't think that there will be a material balance sheet issue.  Worst case, 
it is easy to do off-balance sheet financing when you have cash equal to the 
total obligation.  Obviously, this will have to be vetted before the 
transaction is executed.