Message-ID: <23308445.1075857125940.JavaMail.evans@thyme>
Date: Tue, 5 Dec 2000 12:35:00 -0800 (PST)
From: warren.schick@enron.com
To: benjamin.rogers@enron.com
Subject: Re: Property tax - Caledonia
Cc: ted.ryan@enron.com, don.miller@enron.com
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Ben:

I am not sure that Swati from Duke understands what the payment schedule 
represents.  First of all, the property tax payments for assessment years 
2000 - 2009 range from a high of $590K to $490K and are not close to the 
numbers he feels are reflected by the schedule. 

 Property tax payments for any given assessment year in Mississippi are paid 
in January of the year following the year of assessment.  For example, the 
property taxes for the 2000 year assessment year are paid in January 2001 and 
the payment schedule reflects that ($591,200).  The other figure that shows 
in the column are property taxes for that year to be paid in the following 
year.

The 15% ratio of assessment has been taken into account in the calculation 
and the payments for the year are total estimated taxes for the year 
including the payment-in-lieu-of taxes payment ("PILOT").

The document for the PILOT agreement has been supplied to the Duke Property 
Tax Department.  Have Swati contact Kelly Voelkel for any information he 
needs.

If additional information is necessary please contact me at X-30689.

Warren


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