Findings of Fact

1. California American has the need for authority to borrow up to $35,000,000 to finance its long-term borrowing needs.

2. Quarterly reports pursuant to General Order 24-B will provide adequate and timely information to the Commission.

3. CAW does not request authority for any specific new construction or changes in use of existing assets and facilities which would utilize the funds authorized in this decision.

4. This decision does not make a finding on the reasonableness of any resulting interest rate, term or conditions of debt issued by California American.