Approved 2000 Public Meeting Minutes - Wednesday, May 30, 2000

The Board met at its offices at 5901 Green Valley Circle, Culver City, at 2:08 p.m. with Chairman Andal, Vice-Chairman Parrish, Mr. Klehs, Mr. Chiang and

Dr. Connell present.

VALUATION OF STATE-ASSESSED PROPERTIES

AS OF JANUARY 1, 2000

Upon motion of Mr. Klehs, seconded by Mr. Chiang and duly carried,

Mr. Klehs, Mr. Chiang and Dr. Connell voting yes, Mr. Andal and Mr. Parrish voting no, 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:

850 Modesto & Empire Traction Company 22,000,000

857 Parr Terminal Railroad 516,000

882 Trona Railway Co. 14,300,000

897 San Joaquin Valley Railroad Company 3,360,000

899 Arizona & California Railroad Company L.P. 4,900,000

Mr. Klehs moved that the fair market value to be used in the assessment of unitary property of the following listed companies as of January 1, 2000 be as follows:

101 Southern California Water Company 334,900,000

103 Anza Electric Cooperative, Inc. 11,400,000

106 Pacificorp 165,200,000

135 Pacific Gas & Electric Company 13,997,700,000

141 San Diego Gas & Electric Company 2,143,000,000

146 Sierra Pacific Power Company 201,200,000

148 Southern California Edison Co. 8,965,400,000

149 Southern California Gas Company 2,765,600,000

152 Southwest Gas Corporation 100,900,000

173 Surprise Valley Electrification Corp 12,600,000

176 Plumas-Sierra Rural Electric Cooperative 21,900,000

184 Avista Corporation 10,400,000

187 Mojave Pipeline Company 124,700,000

188 Kern River Gas Transmission Company 152,000,000

189 Standard Pacific Gas Line Incorporated 21,100,000

190 Tuscarora Gas Transmission Company 73,700,000

194 West Coast Gas Company, Inc. 431,000

The motion failed for lack of a second.

Mr. Andal moved that the market value to be used in the assessment of unitary property of the above listed companies as of January 1, 2000 be the staff recommended values using 80% HCLD rather than 56% HCLD. The motion failed to carry, Mr. Andal and Mr. Parrish voting yes, Mr. Klehs, Mr. Chiang and Dr. Connell voting no.

Upon motion of Mr. Klehs, seconded by Mr. Chiang and duly carried,

Mr. Klehs, Mr. Chiang and Dr. Connell voting yes, Mr. Andal and Mr. Parrish voting no, 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:

101 Southern California Water Company 334,900,000

103 Anza Electric Cooperative, Inc. 11,400,000

106 Pacificorp 165,200,000

135 Pacific Gas & Electric Company 13,997,700,000

141 San Diego Gas & Electric Company 2,143,000,000

146 Sierra Pacific Power Company 201,200,000

148 Southern California Edison Co. 8,965,400,000

149 Southern California Gas Company 2,765,600,000

152 Southwest Gas Corporation 100,900,000

173 Surprise Valley Electrification Corp 12,600,000

176 Plumas-Sierra Rural Electric Cooperative 21,900,000

184 Avista Corporation 10,400,000

187 Mojave Pipeline Company 124,700,000

188 Kern River Gas Transmission Company 152,000,000

189 Standard Pacific Gas Line Incorporated 21,100,000

190 Tuscarora Gas Transmission Company 73,700,000

194 West Coast Gas Company, Inc. 431,000

Dr. Connell stated that she would like for the appeals hearings to be scheduled in early fall this year.

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 failed for lack of a second.

Upon motion of Dr. Connell, seconded by Mr. Andal and duly carried,

Mr. Andal, Mr. Parrish and Dr. Connell voting yes, Mr. Klehs and Mr. Chiang voting no, the Board ordered that the fair market value to be used in the assessment of unitary property of GTE California Incorporated (201) be $3,963,128,000.

Upon motion of Mr. Andal, seconded by Dr. Connell and duly carried,

Mr. Andal, Mr. Parrish and Dr. Connell voting yes, Mr. Klehs and Mr. Chiang voting no, the Board ordered that the fair market value to be used in the assessment of unitary property of Pacific Bell (279) be $12,908,457,528.

Upon motion of Mr. Andal, seconded by Dr. Connell and duly carried,

Mr. Andal, Mr. Parrish and Dr. Connell voting yes, Mr. Klehs and Mr. Chiang voting no, the Board ordered that the fair market value to be used in the assessment of unitary property of Roseville Telephone Company (294) be $183,586,363.

The Board adjourned at 2:35 p.m.

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