term muni deals prepays mike mcdonald laird dyer looking creditworthy california shorts munis roseville palo alto trying combine long term purchase muni bond issue order prepay power basic structure borrow money tax exempt market 6 give proceeds power supplier values money 7 effectively get cheaper power done deals past nat gas besides margin commodity get cash door obligation deliver given overall cash targets ca length made priority mike mcdonald selling concept past six months looking submitting notional offer later week roseville 50 mw 100 mw np 15 8 10 years big valuation question relates ena bid generally paid cost funds cash show debt discussions joe thinks bid based alternative markets balance sheet cash might mean libor plus 50 150 bp sounds reasonable think fact charged 15 balance sheet funds bid offer balance sheet cash 7 xl 5 using 100 mm balance sheet exposure bring 100 mm cash able net difference thoughts regards chris