Approved Public Meeting Minutes - Wednesday, May 24, 200

The Board met at its offices at 450 N Street, Sacramento, at 9:25 a.m. with Chairman Andal, Vice-Chairman Parrish and Ms. Mandel present on behalf of

Dr. Connell in accordance with Government Code Section 7.9.

ANNOUNCEMENT OF CLOSED SESSION

The Board recessed at 9:25 a.m. and reconvened immediately in closed session with Mr. Andal, Mr. Parrish, Mr. Klehs, Mr. Chiang and Ms. Mandel present.

CLOSED SESSION

The Board met to discuss personnel matters and Revenue and Taxation Codes 7093.5 and 50156.11 settlements, potential litigation and pending litigation.

The Board recessed at 9:52 a.m. and reconvened at 9:55 a.m. in open session with Mr. Andal, Mr. Parrish, Mr. Klehs, Mr. Chiang and Ms. Mandel present.

ANNOUNCEMENT OF ACTIONS TAKEN IN CLOSED SESSION

Mr. James E. Speed, Executive Director, announced the appointment of Joseph Young, Supervising Tax Auditor II, to Assistant Chief of Field Operations, Sales and Use Tax Department effective June 1, 2000.

RETIREMENT RESOLUTIONS

Upon motion of Mr. Klehs, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs, Mr. Chiang and Ms. Mandel voting yes, the Board adopted the following resolutions (Exhibit 5.23) extending its best wishes on their respective retirements and its appreciation for their service to the Board and the State of California:

Myron E. Taussig, Assistant Chief of Field Operations, Sales and Use Tax Department

Dolores (Dodie) M. Smith, Associate Tax Auditor, Riverside District Office

Arlene Campbell, Associate Governmental Program Analyst, Policy, Planning and Evaluation Section, Administration Department

Roderick (Rick) Darrell Bernardin, Business Tax Specialist, Riverside District Office

Terrance F. Dudeck, Supervising Tax Auditor, Chicago District Office

Harry B. Meeker, Business Tax Specialist, Van Nuys District Office

BOARD MEETING MINUTES

Upon motion of Mr. Klehs, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs, Mr. Chiang and Ms. Mandel voting yes, the Board approved the minutes of its meetings of April 5 & 6, 2000.

4-R ACT EQUALIZATION RATIO FOR 2000-2001

Upon motion of Mr. Klehs, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Ms. Mandel not participating in accordance with Government Code Section 7.9, the Board ordered that rail transportation property be assessed at 76.15 percent of the market value for the 2000-2001 roll (Exhibit 5.24).

EXTENSION OF TIME GRANTED PURSUANT TO REVENUE AND TAXATION CODE SECTION 155

Mr. Speed reported that he granted extensions of time under the provisions of Revenue and Taxation Code Section 155 to complete and submit the 2000-2001 Local Assessment Rolls to the assessors of Lake, Los Angeles, Monterey, San Francisco, Sierra and Tehama Counties.

VALUATION OF STATE-ASSESSED PROPERTIES AS OF JANUARY 1, 2000

Ms. Mandel stated that she was not participating in the valuation of state-assessed properties in accordance with Government Code Section 7.9 and left the Board room.

Upon motion of Mr. Chiang, seconded by Mr. Klehs and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

3005 Mobilephone of Humbolt, Inc. 229,000

3039 Fresno Mobile Radio, Inc. 728,000

3052 Vincent Communications, Inc. 26,000

3348 Donald G. Pollard dba Siskiyou Mobilfone 5,170

3349 Delta Valley Radiotelephone, Co. Inc. 28,700

3357 Mr. Knox LaRue dba Atlas Radiotelephone Co. 6,900

3359 Hendrix Radio Communications, Inc. 151,800

3360 Sylvan B. Malis dba Coast Mobilephone Service 51,590

3362 Madera Radio Dispatch, Inc. 168,000

3369 Cal-Autofone 202,000

3374 Radio Electronics Products Corp. 54,500

3379 Stockton Mobilphone, Inc. 1,500

3381 James E. Walley (Estate) dba Auto Phone Company 111,000

3426 Rob Hanson dba Siskiyou Communications 38,100

3427 Access Paging Company, Inc. 93,280

3428 Communications West 5,900

3429 C-Cellular 3,400

Upon motion of Mr. Parrish, seconded by Mr. Klehs and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

3342 High Sierra Mobilfone 21,560

3380 TAS WRCO Corp dba Tadlock's Communications 80,850

Upon motion of Mr. Parrish, seconded by Mr. Klehs and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2000 GST Pacific Lightwave Inc. 53,300,000

2019 Western States Microwave Transmission Company 1,870,000

2022 GST Call America, Inc. 951,000

2038 GTE Airfone Incorporated 8,870,000

2043 Pac-West Telecomm, Inc. 55,500,000

2054 Spacenet, Inc. 1,710,000

2063 Extelcom, Inc. dba Express Tel 3,620,000

2096 GTE Railfone/Amtrak Venture 20,700

2097 GST Telecom California, Inc. 254,900,000

2099 Smart City Networks, L.P. 211,200

2100 Preferred Long Distance 4,800

2101 Specialized Telecom Services, Inc. 290,400

2131 Bay Area Teleport, Inc. 110,100,000

2213 COMSAT Corporation 16,600,000

2275 G.E. American Communications, Inc. 1,639,000

2293 Western Tele-Communications, Inc. 4,960,000

2329 Intellicall Operator Services, Inc. 23,760

2368 Globe Wireless Inc. 3,710,000

2376 Working Assets Funding Service, Inc. 1,020,000

2388 GTE Telecom Incorporated 10,500,000

2391 ACN Communications 490,000

2402 Netmoves Corporation 3,410

2403 Economy Telephone, Inc. 11,600

2405 Fiber Communications of Northern California 488,000

2410 L.D.C. Consultants, Inc. 52,360

2412 Saladin Westco, Inc. 372,900

2415 Incomnet Communications Corp. 9,590,000

2418 One Call Communications, Inc. 26,300

2423 National Brands, Inc. dba Sharenet Communications Company 2,200

2428 U.S. Wats, Inc. 306,900

2430 Electric Lightwave, Inc. 85,800,800

2431 Peoples Telephone Company 553,300

2432 Claircom Communications Group Inc. 8,080,000

2433 ICG Telecom of San Diego, L.P. 37,700,000

2436 Communication Telesystems Int'l, Inc. 17,300,000

2437 Dialink Corporation 26,600

2443 National Comtel Network, Inc. 17,600

2447 RSL COM USA, Inc. 18,600,000

2448 RhondaCom, Inc 6,200

2462 ICG Telecom Group, Inc. 181,000,000

2463 Qwest Communications Corporation 223,000,000

2467 LCI International Telecom Corp. 59,800,000

2472 Shared Technologies Fairchild Telecom, Inc. 3,170,000

2475 Vartec Telecom, Inc 4,720,000

7503 GTE Communications Corporation 3,030,000

7507 T-Netix, Inc. 1,470,000

7512 Citizens Telecommunications Company 9,610,000

7516 Cybernet Communications Inc. 33,440

7517 Genesis Communications Int'l Inc. 979,000

7518 Western Union Communications, Inc. 29,150

7519 US Voice Telemanagement, Inc. 42,100

7522 Time Warner Telecom of California, L.P. 29,100,000

7524 Fibertel, Inc. 107,910

7525 Fiberlink Communications Corp. 46,600

7527 UniDial Communications, Inc. 221,000

7536 Global Crossing North American Networks, Inc. 51,600,000

7540 Integrated Teleservices, Inc. 114,000

7544 Telswitch, Inc. dba Tel-One 38,170

7545 A&N Telecom, Inc. 111,000

7553 TCI Telephony Services of California, Inc. 2,550,000

7554 Cable Plus Company, L.P. 26,300

7556 MediaOne Telecommunications of California 50,300,000

7560 Nextlink California, Inc. 181,400,000

7562 WinStar Wireless Inc. 15,200,000

7571 Network Enhanced Technologies 462,000

7577 US West Interprise America, Inc. 2,670,000

7579 Exstream Data, Inc. 199,000

7580 Evercom Systems, Inc 379,000

7581 ABS-CBN Telecom North America, Inc. 399,000

7588 PNG Telecommunications, Inc. 120,000

7621 GE American Communications California, Inc. 7,710,000

7624 First World Communications, Inc. 74,000,000

7625 T Cast Communications, Inc. 473,000

7630 Broadwing Communications Services, Inc. 103,100,000

7632 Business Discount Plan, Inc. 498,300

7634 SJ Investments, Inc. 118,000

7636 Network Telephone Services, Inc. 1,560,000

7638 Integrated Telemanagement Services, Inc. 21,300

7639 Pacific Gateway Exchange, Inc. 25,300,000

7640 Cox California Telcom, L.L.C. 60,500,000

7641 GST Net, Inc. 201,000

7642 Fibrcom, Inc. d.b.a. Time Warner Connect 421,000

7645 Communications Brokers & Consultants 11,550

7663 Startec Global Operating Company 4,750,000

7670 American Freedom Network 17,500,000

7677 Talk.Com Holding Corp. 1,419,000

7686 Primus Telecommunications, Inc. 6,770,000

7690 California Catalog & Technology, Inc. 7,100

7697 ICS Intelesys, Inc. 7,900

7698 EOPCH Networks, Inc. 6,850,000

7700 Cheetah Communications, LLC 60,400

7701 GTE Telecommunication Services, Inc. 9,100

7702 Federal Communications Corp. 134,000

7703 Transcommunications, Inc. 119,000

7704 Sasscom, Inc. 162,000

7705 Sierra Telephone Long Distance 91,200

7706 Covad Communications Company 92,180,000

7707 Roseville Long Distance Company 11,600

7708 San Diego Telecom, Inc. 3,300

7709 PT-1 Communications, Inc. 991,000

7710 GTE Intelligent Network Services Incorporated 1,250,000

7712 Dancris Telecom, LLC 6,820

7713 DSI/Inn-Tel, Inc. 28,000

7714 I-Link Incorporated 605,000

7715 Teligent, Inc. 14,200,000

7716 Americom Communications 306,000

7718 Rhythms Links, Inc. 25,900,000

7720 Intermedia Communications, Inc. 6,790,000

7721 North Point Communications, Inc. 14,900,000

7723 Opentel Communications, Inc. 788,000

7724 MGC Communications 86,460,000

7725 Justice Telecom Corporation 8,290,000

7728 Convergent Communications Services, Inc. 3,350,000

7729 New Global Telecom, Inc. 7,000,000

7731 Worldtouch Communications 975,000

7732 NTTA.Com., Inc. 2,730,000

7733 GTE Global Networks Incorporated 98,800,000

7734 Momentum Telecom 220,000

7735 Pacific Centrex Services, Inc. 103,950

7737 Savecom International, USA, Inc. 451,000

7738 Star Direct Telecom, Inc. 4,180

7739 Star Network Corporation 112,000

7740 TRI-M Communications Inc., dba TMC Communications 133,000

7742 Allegiance Telecom, Inc. 64,500,000

7744 e.spireDATA, Inc. dba e.spire Communications, Inc. 220,000

7746 UNA Telecommunications, Inc. 6,270

7747 TGEC Communications 258,500

7748 Park 'N View, Inc. 1,065,900

7749 Teleshare Communications, Inc. 33,880

7751 Star Telecom Network, Inc. 65,100

7752 Direct Net Telecommunications 2,450,000

7753 One Tel, Inc. 646,000

7754 World Network Communications, Inc. 3,000

7755 Real Navigation Systems Corporation 1,600

7756 Centergistic Solutions 126,000

7757 U.S. TelePacific Corp. 18,920,000

7758 BT North America Inc. 795,000

7759 Focal Communications Corporation of California 21,670,000

7760 Teleglobe USA, Inc. 10,000,000

7761 Level 3 Communications, LLC 240,500,000

7762 Telco Network Services, Inc. 14,080,000

7764 Diamond Link, Inc. 1,580,000

7765 Facilicom International LLC 5,104,000

7766 KDD America, Inc. 6,180,000

7767 International Thinklink Corporation 8,074,000

7768 Calls For Less, Inc. 35,750

7769 Airnex Communications, Inc. 523,600

7774 Trans Coast Communications, Inc. 23,430

7776 SmartStop, Inc. 338,000

7777 LDExchange.com 1,820,000

Upon motion of Mr. Parrish, seconded by Mr. Klehs and unanimously carried, Mr. Andal, Mr. Parrish and Mr. Klehs voting yes, Mr. Chiang not participating, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2014 Sprint Communications Company, L.P. 573,200,000

2035 Cable & Wireless USA, Inc. 15,000,000

2274 MCI WorldCom Network Services, Inc. 1,027,000,000

2322 Worldcom International Data Services, Inc. 19,200,000

2372 MCI Metro Access Transmission Services, LLC 686,700,000

7727 Sprint Services, Inc. 1,530,000

7779 Worldwide Fiber Networks, Inc. 58,190,000

7837 Metromedia Fiber Network Services, Inc. 3,250,000

Upon motion of Mr. Parrish, seconded by Mr. Klehs and unanimously carried, Mr. Andal, Mr. Parrish and Mr. Chiang voting yes, Mr. Klehs not participating, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2207 Global Crossing Telecommunications, Inc. 44,100,000

2351 Global Crossing Bandwidth, Inc. 1,290,000

Upon motion of Mr. Chiang, seconded by Mr. Andal and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of AT&T Communications (2310) be $2,002,900,000 and abated the penalty of $20,000,000.

Upon motion of Mr. Andal, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2041 Priority 1 + Long Distance 6,490

2214 COMSAT General Corporation 314,000

2401 Communication Service of America, Inc. 2,200

2416 NOS Communications, Inc. 4,600,000

2425 Teltrust, Inc. 2,795,650

2445 CEO Telecommunications, Inc. 721,000

7502 A.S. Telecommunications dba Allstar 68,640

7538 Tremcom International, Inc. 242,880

7548 San Diego Telephone Company, Inc. 46,299

7573 Worldtel Interactive, Inc. 102,465

7575 Mariners Telecomm Group, Inc. 356,250

7635 CCI Communication Specialists, Inc. 11,550

7699 Legacy Long Distance International 1,096,700

7717 Starlink Communications, LLC 15,070

7719 International Exchange Networks, Ltd. 927,300

7726 Performance Telecom 275,000

7743 CRL Network Services, Inc. 2,981,000

7775 RCN Telecom Services of California Inc. 53,700,000

7778 HighSpeed.Com of CA, LLC 610,000

7780 Premio, Inc. 14,300

7781 Korea Telecom America, Inc. 8,500

7782 Ton Services, Inc. 121,000

7783 U.S. Telefone Holding Company, Inc. 11,300

7784 net.world, inc. 665,000

7785 McLeod USA Telecommunications Inc. 4,500

7786 CCCCA, Inc. 72,400

7787 Broadstream Corporation 455,400

7788 FNET Corporation 758,000

7789 Multa Communications Corporation 1,790,000

7790 NTC Network, LLC 70,900

7791 O1 Communications, Inc. 7,230,000

7792 Point to Point Inc. 38,600

7793 Big Bear Telecom, Inc. 8,000

7794 Global Photon Systems, Inc. 154,000

7795 Monarch Communications, Inc. 59,200

7796 Samsung Data Systems America, Inc. 394,000

7797 Titan Telecommunications, Inc. 33,880

7798 United States Advanced Network, Inc. 3,322,000

7799 Wilshire Connection, LLC 499,000

7800 New Edge Network, Inc. 14,200

7801 Global West Network, Inc. 1,620,000

7802 Network Enhanced Telecom, L.L.C. 4,100,000

7803 Reflex Communications, Inc. 357,000

7804 Hotel Connect Management Inc. 8,140

7805 Teleglobe Business Solutions, Inc. 425,700

7806 Campuslink Communications Systems, Inc. 28,400

7807 Fiber Communications, Inc. 130,000

7808 Nosc Corp. 1,200

7809 Helvey Com, Inc. 6,578,000

7810 California Network Management 16,940

7811 Public Communication Services, Inc. 1,804,000

7812 True America Communications, Inc. 4,290

7813 Advanced Telecom Group, Inc. 10,800,000

7814 PaeTec Communications, Inc. 3,360,000

7815 GTC Telecom Corporation 298,000

7816 SouthNet Telecom Services 959,200

7817 Voice Vision International, Inc. 1,265,000

7818 Wholesale Telecom, Inc. 3,300

7819 Network Services, Inc. 87,000,000

7820 Star Telecommunications, Inc. 23,540,000

7821 oCen Communications 2,650,000

7822 Z-Tel Technologies, Inc. 1,037,300

7823 U.S. Telestar Communications Group 4,840

7824 Kertel Communications, Inc. 193,600

7825 Premiere Telemedia, Inc. 97,240

7826 Bitro Telecommunications, Inc. 1,430,000

7827 Legacy Telecommunications Corp 214,500

7828 Point Local Exchange Company 1,196,800

7829 Onsite Access Local, LLC 22,990

7830 Hurricane Electric LLC 1,016,400

7831 Dacom USA, Inc. 16,830

7832 Seren Innovations, Inc. 62,040,000

7833 INET Interactive Network System, Inc. 1,837,000

7834 Pannon Telecom, Inc. 7,150

7835 MainNet, Inc. 30,580

7836 Telecenter, Inc. 22,220

7838 iGlobe, Inc. 1,220,000

Upon motion of Mr. Andal, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2511 My Store, Inc. 1,540

2513 Sacramento Valley Limited Partnership 214,000,000

2532 Los Angeles SMSA, Ltd. 695,800,000

2547 AB Cellular Holding, LLC 551,300,000

2552 Fresno MSA, L.P. 70,900,000

2559 GTE Mobilnet of California L.P. 299,800,000

2596 Mall Telecommunications 7,400

2600 GTE Mobilnet Inc., dba GTE Mobilnet of San Diego 71,300,000

2602 Digital Communications Network, Inc. 1,090,000

2605 Nova Cellular West, Inc., dba San Diego Wireless 52,000

Communications

2606 AT&T Wireless Services of California, Inc. 155,900,000

2626 Santa Barbara Cellular Systems, Ltd. 14,900,000

2627 GTE Mobilnet of Santa Barbara, L.P. 28,800,000

2630 Santa Cruz Cellular Telephone Co. 13,000,000

2639 Redding Cellular Partnership 3,590,000

2641 Visalia Cellular Telephone Company 5,930,000

2643 Yuba City Cellular Telephone Company 3,410,000

2649 Action Cellular Rent-A-Phone, Inc. 118,000

2658 InTouch America, Inc. 64,900

2659 Cal-One Cellular L.P. 6,320,000

2660 Century El Centro Cellular Corp. 2,550,000

2665 GCC License Corporation 4,030,000

2667 GTE Mobilnet of Central California, Inc. 4,640,000

2668 California RSA #3 Ltd. Partnership 8,680,000

2669 California RSA #4, L.P. 12,900,000

2671 California Rural Service Area #1, Inc. 20,300,000

2672 El Dorado Cellular dba Mountain Cellular 2,710,000

2675 Dobson Cellular of California, Inc. 9,120,000

2676 Data Cellular Systems, RSA #10 1,500,000

2680 ConexOne Communications, L.L.C. 440,000

2681 Everything Wireless, L.L.C. 73,800

2683 Pay-Less Cellular 64,790

2691 Los Angeles Wireless, Inc. 6,160

2696 Cellular Express, Inc. 436,000

2698 Digital Cellular, Inc. 55,800

2715 Worldwide Cellular, Inc. 42,000

2718 Dobson Cellular of Imperial, Inc. 5,690,000

2720 Cox Communications PCS, L.P. 519,100,000

2723 Discount Cellular, Inc. 4,000

2730 Personal Cellular Services, Inc. 41,400

2731 Gulf Coast Broadcasting Corp. dba GTE Wireless 2,170,000

2732 Nextwave Telecom, Inc. 46,900

2744 Smartel Cellular Telecomm., Inc. 17,160

2745 West Coast PCS 26,800,000

2746 Alpine PCS, Inc. 6,670,000

Upon motion of Mr. Klehs, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of Nextel of California, Inc. (2737) be $731,700,000.

Upon motion of Mr. Klehs, seconded by Mr. Chiang and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2622 Bakersfield Cellular Telephone Company 20,800,000

2624 Prime Matrix Wireless Communications, Inc. 152,000

2636 Redwood Cellular Communications, Inc. 15,125

2653 Wireless Communications Interactive 11,990

2688 Business Cellular Services, Inc. 47,100

2725 A-Tel Inc. 9,570

2740 Max Air Wireless, Inc. 126,500

2747 Central Wireless Partnership 38,170,000

2748 Pacific Bell Wireless 820,000,000

2749 AT&T Wireless PCS, LLC 54,300,000

2750 U.S. Osiris dba American Roaming Network & Smartpay 34,430

Upon motion of Mr. Andal, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Klehs and Mr. Parrish voting yes, Mr. Chiang not participating, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2616 MCI Wireless, Inc. 14,300,000

2722 Sprint Spectrum L.P. 298,000,000

Upon motion of Mr. Andal, seconded by Mr. Parrish and duly carried, Mr. Andal, Mr. Parrish and Mr. Chiang voting yes, Mr. Klehs voting no, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

2502 Bay Area Cellular Telephone Co. 266,704,616

2512 Airtouch Cellular - San Diego 117,900,000

2611 Cagal Cellular Communications Corp. 14,200,000

2628 Napa Cellular Telephone Company 13,300,000

2637 Salinas Cellular Telephone Company 12,000,000

2687 SLO Cellular, Inc. 5,310,000

Upon motion of Mr. Parrish, seconded by Mr. Chiang and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

400 Standard Gas Company 709,000

402 CALNEV Pipe Line Company 71,300,000

406 Calpine Pittsburg, Inc. 8,690,000

407 Exxon Mobil Corporation 1,390,000

409 West Coast Pipe Lines 152,700,000

410 Homestake Mining Company of California 4,810,000

412 Kings County Canal Company 704,000

428 Aera Energy LLC 13,860,000

429 Chevron U.S.A., Inc. 34,400,000

432 Equilon Enterprises LLC 128,600,000

435 Natomas Central Mutual Water Company 131,000

438 San Luis Canal Company 4,940,000

467 Tosco Corporation 859,000

469 San Ardo Pipeline Company 10,700,000

475 IMC Chemicals, Inc. 1,650,000

476 Texaco Exploration & Production, Inc. 7,450,000

477 Union Island Pipeline Company 3,730,000

479 Chevron Pipeline Company 29,040,000

480 Unocap 54,300,000

483 Mobil Pacific Pipeline Company 2,340,000

484 Calpine Pipeline Corporation 4,730,000 Mr. Parrish moved that the fair market value to be used in the assessment of unitary property of SFPP, L.P. (461) be $275,466,174. The motion failed for lack of a second. Mr. Chiang moved that the fair market value to be used in the assessment of unitary property of SFPP, L.P. (461) be $340,200,000. The motion was seconded by Mr. Andal but failed to carry, Mr. Andal and Mr. Chiang voting yes, Mr. Klehs and Mr. Parrish voting no, Dr. Connell absent.

The Board deferred consideration of the assessment of unitary property of SFPP, L.P. (461).

Upon motion of Mr. Andal, seconded by Mr. Chiang and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of All American Pipeline L.P. (465) be $88,600,000.

Upon motion of Mr. Andal, seconded by Mr. Klehs and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

462 ARCO Pipeline Company 2,950,000

464 Ventura Pipeline System 2,060,000

468 Equilon California Pipeline Company LLC 32,400,000

478 California Gas Gathering, Inc. 235,000

486 Pacific Pipeline LLP 299,600,000

Upon motion of Mr. Klehs, seconded by Mr. Chiang and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

800 Alameda Belt Line 4,380,000

801 Amador Central Railroad 160,000

804 The Burlington Northern and Santa Fe Railway Company 646,500,000

812 Ventura County Railroad 2,550,000

815 California Western Railroad, Inc. 1,936,000

817 Tulare Valley Railroad 146,000

818 Central California Traction Company 4,930,000

834 Lake County Railroad 298,100

839 Oakland Terminal Railway 664,000

843 Union Pacific Railroad Company 669,300,000

869 Santa Maria Valley Railroad Co. 1,510,000

871 Sierra Railroad Company 682,000

878 Stockton Terminal and Eastern Railroad 9,920,000

883 McCloud Railway Company 1,610,000

889 Yreka Western Railroad Co. 415,000

892 Almanor Railroad Company 255,000

894 Napa Valley Wine Train, Inc. 9,820,000

896 Santa Cruz Big Trees & Pacific Railway Co. 778,000

898 Yolo Shortline Railroad Company 490,000 Mr. Andal moved that the fair market value to be used in the assessment of unitary properties of Modesto & Empire Traction Company (850), Parr Terminal Railroad (857), Trona Railway Co. (882), San Joaquin Valley Railroad Company (897) and Arizona & California Railroad Company L. P. (899) be the salvage value. The motion was seconded by Mr. Parrish but failed to carry, Mr. Andal and Mr. Parrish voting yes, Mr. Klehs and Mr. Chiang voting no, Dr. Connell absent.

The Board deferred consideration of the assessment of unitary properties of Modesto & Empire Traction Company (850), Parr Terminal Railroad (857), Trona Railway Co. (882), San Joaquin Valley Railroad Company (897) and Arizona & California Railroad Company L. P. (899).

Upon motion of Mr. Chiang, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

802 Central Oregon & Pacific Railroad 3,340,000

808 West Isle Line, Inc. 139,000

810 California Northern Railroad 2,290,000

813 Pacific Harbor Lines 4,020,000

865 San Diego & Imperial Valley Railroad Co. Inc. 3,370,000

Upon motion of Mr. Chiang seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

160 Valley Electric Association, Inc. 49,400

185 Mountain Utilities 2,850,000

191 Arizona Public Service Company 3,260,000

193 Arizona Electric Power Cooperative, Inc. 194,700

196 Questar Line 90 Company 19,100,000 Mr. Andal moved that the fair market value to be used in the assessment of unitary properties of Anza Electric Cooperative, Inc. (103) be $11,895,345; Standard Pacific Gas Line Incorporated (189) be $18,468,616; West Coast Gas Company, Inc. (194) be $429,295. The motion was seconded by Mr. Parrish but failed to carry, Mr. Andal and Mr. Parrish voting yes, Mr. Klehs and Mr. Chiang voting no, Dr. Connell absent.

Action: (Motion expunged)

Upon motion of Mr. Klehs, seconded by Mr. Andal and unanimously carried, Mr. Klehs, Mr. Andal, Mr. Parrish and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the previous motion be expunged.

The Board deferred consideration of the following companies: Southern California Water Company (101); Anza Electric Cooperative, Inc. (103); Pacificorp (106); Pacific Gas & Electric Company (135); San Diego Gas & Electric Company (141); Sierra Pacific Power Company (146); Southern California Edison Company (148); Southern California Gas Company; Southwest Gas Corporation (152); Surprise Valley Electrification Corporation (173); Plumas-Sierra Rural Electric Cooperative (176); Avista Corporation (184); Mojave Pipeline Company (187); Kern River Gas Transmission Company (188); Standard Pacific Gas Line Incorporated (189); Tuscarora Gas Transmission Company (190) and West Coast Gas Company, Inc. (194).

Upon motion of Mr. Parrish, seconded by Mr. Andal and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

192 Alpine Natural Gas Operating No. One LLC 352,000

195 Wild Goose Storage, Inc. 44,400,000 Mr. Andal moved that the fair market value to be used in the assessment of unitary properties of Anza Electric Cooperative, Inc. (103) be $11,895,345; Standard Pacific Gas Line Incorporated (189) be $18,468,616; West Coast Gas Company, Inc. (194) be $429,295. The motion was seconded by Mr. Parrish but failed to carry, Mr. Andal and Mr. Parrish voting yes, Mr. Klehs and Mr. Chiang voting no, Dr. Connell absent.

The Board deferred consideration of the assessment of the unitary properties of Anza Electric Cooperative, Inc. (103), Standard Pacific Gas Line Incorporated (189), West Coast Gas Company, Inc. (194).

Upon motion of Mr. Andal, seconded by Mr. Chiang and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

202 Telephone Utilities of Eastern Oregon Inc 219,000

205 The Ponderosa Telephone Company 27,500,000

209 Pinnacles Telephone Company 1,040,000

210 Calaveras Telephone Company 7,381,000

228 Ducor Telephone Company 6,880,000

229 Evans Telephone Company 6,910,000

235 Foresthill Telephone Company 4,220,000

239 Hornitos Telephone Company 1,460,000

240 Happy Valley Telephone Company 4,810,000

246 Kerman Telephone Company 4,930,000

270 Citizens Telecom. Co. Of The Golden State 21,200,000

284 Citizens Telecommunications Company of California 191,800,000

286 Sierra Telephone Company, Inc. 48,400,000

301 The Siskiyou Telephone Company 15,300,000

311 Citizens Telecomm. Co. of Tuolumne 10,400,000

320 GTE West Coast Incorporated 18,400,000

327 The Volcano Telephone Company 28,100,000

328 Cal-Ore Telephone Co. 5,030,000

330 Winterhaven Telephone Company 2,570,000 Mr. Andal moved that the fair market value to be used in the assessment of unitary properties of GTE California Incorporated (201) be $3,963,128,000; Pacific Bell (279) be $13,754,227,649; Roseville Telephone Company (294) be $293,796,555. The motion failed for lack of a second. Mr. Andal moved that the fair market value to be used in the assessment of unitary property of GTE California Incorporated (201) be $3,963,128,000. The motion was seconded by Mr. Parrish but failed to carry, Mr. Andal and Mr. Parrish voting yes, Mr. Klehs and Mr. Chiang voting no, Dr. Connell absent. Mr. Andal moved that the fair market value to be used in the assessment of unitary property of Pacific Bell (279) be $12,908,457,528. The motion was seconded by Mr. Parrish but failed to carry, Mr. Andal and Mr. Parrish voting yes, Mr. Klehs and Mr. Chiang voting no, Dr. Connell absent. Mr. Andal moved that the fair market value to be used in the assessment of unitary property of Roseville Telephone Company (294) be $183,586,363. The motion was seconded by Mr. Parrish but failed to carry, Mr. Andal and Mr. Parrish voting yes, Mr. Klehs and Mr. Chiang voting no, Dr. Connell absent.

The Board deferred consideration of the assessment of the unitary properties of GTE California Incorporated (201), Pacific Bell (279) and Roseville Telephone Company (294).

Upon motion Mr. Klehs, seconded by Mr. Andal and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board ordered that the market value to be used in the assessment of unitary property of SFPP, L.P. (461) be $340,200,000.

The Board recessed at 10:40 a.m. and reconvened at 10:50 a.m. with Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang present.

The Board deferred valuation of the following state-assessed properties: Southern California Water Company (101); Anza Electric Cooperative, Inc. (103); Pacificorp (106); Pacific Gas & Electric Company (135); San Diego Gas & Electric Company (141); Sierra Pacific Power Company (146); Southern California Edison Co. (148); Southern California Gas Company (149); Southwest Gas Corporation (152); Surprise Valley Electrification Corp (173); Plumas-Sierra Rural Electric Cooperative (176); Avista Corporation (184); Mojave Pipeline Company (187); Kern River Gas Transmission Company (188); Standard Pacific Gas Line Incorporated (189); Tuscarora Gas Transmission Company (190); West Coast Gas Company, Inc. (194); GTE California Incorporated (201); Pacific Bell (279); Roseville Telephone Company (294); Modesto & Empire Traction Company (850); Parr Terminal Railroad (857); Trona Railway Co. (882); San Joaquin Valley Railroad Company (897) and Arizona & California Railroad Company L.P (899).

Upon motion of Mr. Andal, seconded by Mr. Parrish and unanimously carried, Mr. Andal, Mr. Parrish, Mr. Klehs and Mr. Chiang voting yes, Dr. Connell absent, the Board adjourned at 11:55 a.m. to May 30, 2000 in Culver City at 2:00 p.m. to decide the remaining property tax matters.

The foregoing minutes are adopted by the Board on July 26, 2000.