RETURN TO PSREC/LMUD CO-GEN PROJECT

BUDGET: $10,000

This report was presented to LMUD on March 29, 2004

This report was one year old when NCPA presented it to the LMUD Board. The LMUD Board paid NCPA $10,000 in August of 2004 for a "study" of LMUD's 2005 power needs, but has no record of this payment?

But wait.....................LMUD had already secured a power contract for 2005

Is the 2005 power needs report suspect ?.............Yes

This project, without any doubt, benefits PSREC customers.....and the LMUD Board is just dumb enough to pay for it ?????

LMUD TRIES TO MOVE INTO PHASE III (financing) WITHOUT AUTHORIZATION