Ripley_ws.doc

June 23, 2000

Larry d. Ripley, senior attorney
Idaho Power Company
Po box 70
Boise, ID 83707

Re: Bogus Basin Line Extension, Case No. IPC-E-00-05; Loan Agreement

Dear Mr. Ripley:

This letter is in response to your correspondence to me dated June 22, 2000. Your letter indicated that Idaho Power had agreed to accept a note and installment payment from Bogus Basin Recreation Association, Inc. (Bogus Basin) for the cost of a line extension to Bogus Basin’s ski area. The Commission in Order No. 28403 authorized deviations from the Rule H refund provision for the line extension. You also stated it is your opinion that this loan arrangement is not a security transaction as defined by Chapter 9,Title 61, Idaho Code, and thus does not require Commission approval. Staff agrees that the note and installment payments for the Bogus Basin line extension is not a securities transaction under Title 61, Chapter 9, Idaho Code, and thus does not require Commission approval.

Please contact me if you have any further questions.

Sincerely

Weldon B. Stutzman
Deputy Attorney General

Cc: Terri Carlock

Vld/L:Ripley_ws