2
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported)
February 17, 1999
CALIFORNIA INFRASTUCTURE AND ECONOMIC DEVELOPMENT BANK
SPECIAL PURPOSE TRUST PG&E-1
(Issuer of the Certificates)
PG&E FUNDING LLC
(Exact name of registrant as specified in charter)
Delaware 333-30715 94-3274751
(State of (Commission File Number) (IRS
Employer
incorporation) Identification
No.)
245 Market Street, Room 424
San Francisco, California 94105
(Address of principal executive offices) (Zip Code)
(415) 972-5467
(Registrant's telephone number,
including area code)
N/A
(Former name or former address, if changed since last report)
Item 4. Changes in Registrant's Certifying Accountant
PG&E Funding LLC is a special purpose, single member limited
liability company organized under the laws of the State of
Delaware. Effective February 17, 1999, the Board of Directors of
PG&E Funding LLC declined to reappoint Arthur Andersen LLP
("AA"), as the independent public accountants to examine its
financial statements for fiscal year 1999. AA's reports on the
financial statements of PG&E Funding LLC for fiscal year 1997
(the first year of PG&E Funding LLC's existence), did not contain
an adverse opinion or a disclaimer of opinion, nor was qualified
or modified as to uncertainty, audit scope, or accounting
principles. During 1997 and 1998 and the subsequent interim
period, there were no disagreements (as such term is defined in
instruction 4 to Item 304 of Securities and Exchange Commission
Regulation S-K) with AA on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to the
satisfaction of AA would have caused it to make reference to the
subject matter of the disagreement(s) in connection with its
report. Attached hereto is a copy of a letter from Arthur
Andersen LLP to the Securities and Exchange Commission indicating
it agrees with the statements made in this report.
On February 17, 1999, the Board of Directors of PG&E Funding LLC
selected Deloitte and Touche LLP as the independent public
accountants to examine its financial statements for fiscal year
1999.
Item 7. Financial Statements, Pro Forma Financial Information, and
Exhibits
Exhibit No. Description
16 Letter from Arthur Andersen LLP to Securities and
Exchange Commission
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
PG&E FUNDING LLC
(Registrant)
Dated: February 23, 1999 GABRIEL B. TOGNERI
By:
____________________________
Name: Gabriel B. Togneri
Title:Treasurer
EXHIBIT INDEX
Exhibit No. Description
16 Letter from Arthur Andersen LLP to Securities and
Exchange Commission
Exhibit 16
[LETTERHEAD OF ARTHUR ANDERSEN LLP]
February 22, 1999
Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Dear Sir/Madame:
We have read Item 4 included in the Form 8-Ks dated February 17,
1999 of PG&E Corporation, Pacific Gas and Electric Company, PG&E
Funding LLC, and PG&E Gas Transmission, Northwest Corporation
filed with the Securities and Exchange Commission and are in
agreement with the statements contained therein.
Very truly yours,
ARTHUR ANDERSEN LLP
PMS
Copy to: Mr. Bruce R. Worthington, PG&E Corporation
