BOND COVENANT COMPLIANCE
The LMUD Board, LMUD Controller, or General Manager can not confirm to the public that the bond covenants are in compliance.
"We think we are in compliance".....Bill Stewart at July 3, 2003 LMUD meeting
KWH is attempting to get the true condition of the bonds and will publish the results for the ratepayers.
LMUD HIRES BANKRUPTCY ATTORNEYS IN BOSTON
.In December/2002 LMUD hired the law firm of Cohn, Khoury, Madoff & Whitesell, LLP. This company is located at 101 Arch Street, Boston, Massachusetts 02110 and deals exclusively with bankruptcy and reorganization. LMUD has paid this firm $4,537.47 as of the March 2003 billing. Visit their website http://www.ckmwlaw.com
KWH wrote Ms. Evelene Twitchell a letter asking for information on LMUD hiring Cohn,Khoury, Madoff & Whitesell (bankruptcy attorneys).
Ms. Twitchell responded by:
"Thank you for your correspondence. Your comments have been noted. The form required for public information is available on the LMUD web site." June 24, 2003.
Ms. Twitchell stated at the July 3, 2003 LMUD meeting that they hired a bankruptcy attorney for Enron. Ms. Twitchell is not aware of the earlier statements by Wayne Langston and Frank Cady that we had avoided any legal problems with Enron when Enron cancelled our contract. As of December 31, 2002, LMUD reported that they were free and clear of Enron.....at least that is what they told the public (?)
This LMUD Board has never reported, at a public meeting, any legal problems with ENRON.