980626.docx

DECISION MEMORANDUM
TO:COMMISSIONER HANSEN
COMMISSIONER NELSON
COMMISSIONER SMITH
MYRNA WALTERS
TONYA CLARK
BILL EASTLAKE
STEPHANIE MILLER
TERRI CARLOCK
DAVID SCOTT
WORKING FILE
FROM:DON HOWELL
DATE:JUNE 26, 1998
RE:ERRATA TO PACIFICORP’S SECURITY EXEMPTION ORDER, CASE NO. PAC-E-98-2
On June 18, 1998, the Commission issued Order No. 27583 granting PacifiCorp an exemption from the security issuance procedures encompassed in Idaho Code §§ 61-901 and -902.  Although the Company sought the flexibility to use some of the proceeds for non-utility purposes, the Commission’s Order did not specifically grant the exemption which would authorize such purposes.  Order No. 27583 is attached.
To correct this unintended consequence, the Staff and the Company concur and recommend that the Commission consider changing the last sentence on the first page of Order No. 27583.  More specifically, the parties recommend that the Commission issue an Errata with the following changes to that last sentence on page 1.
“Absent the exemption requested by the Company,proceeds from the sale of the common stock may be utilized only for general utility purposes including improvement or maintenance of services or facilities, construction purposes, acquisition of utility property, or to reimburse the Company’s treasury. ”
The Commission Staff recommends that the Commission approve this Errata.

Don Howell
vld/M:PAC-E-98-2.dh2