Attached files
EXHIBIT
34.1
ATTESTATION
REPORT ON ASSESSMENT OF COMPLIANCE WITH
SERVICING
CRITERIA FOR ASSET-BACKED SECURITIES
REPORT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the
Board of Directors and Shareholder
Entergy
Texas, Inc.
Beaumont,
Texas
We have examined Entergy Texas, Inc.’s
(the "Company’s") compliance with the servicing criteria set forth in Item
1122(d) of the Securities and Exchange Commission's Regulation AB applicable for
Entergy Gulf States Reconstruction Funding I, LLC’s Senior Secured Transition
Bonds, Series A (the “Securities”) described in the accompanying Management’s
Report On Assessment of Compliance With Servicing Criteria For Asset-Backed
Securities as of and for the year ended December 31, 2009, excluding criteria
1122(d)(1)(ii), (1)(iii), (1)(iv), (2)(iii), (2)(vi), (4)(iii), (4)(v), (4)(ix),
(4)(x), (4)(xi), (4)(xii), (4)(xiii), and (4)(xv), which management has
determined are not applicable to the activities performed by the Company with
respect to the Securities. Management is responsible for the
Company's compliance with the servicing criteria. Our responsibility
is to express an opinion on the Company's compliance with the servicing criteria
based on our examination.
Our
examination was conducted in accordance with attestation standards established
by the American Institute of Certified Public Accountants, as adopted by the
Public Company Accounting Oversight Board (United States), and, accordingly,
included examining, on a test basis, evidence about the Company's compliance
with the applicable servicing criteria, including tests on a sample basis of the
servicing activities related to the Securities, determining whether the Company
performed those selected activities in compliance with the servicing criteria
during the specified period, and performing such other procedures as we
considered necessary in the circumstances. Further, an examination is
not designed to detect noncompliance arising from errors that may have occurred
prior to the period specified above that may have affected the balances or
amounts calculated or reported by the Company during the period covered by this
report. We believe that our examination provides a reasonable basis
for our opinion. Our examination does not provide a legal
determination on the Company's compliance with the servicing
criteria.
Our
examination disclosed the following material noncompliance with 1122(d)(3)(i)
applicable to the Company during the year ended December 31,
2009. For servicing criterion 1122(d)(3)(i), two monthly servicer
certificates during the year ended December 31, 2009 were not delivered to
Entergy Gulf States Reconstruction Funding I, LLC, the Public Utility Commission
of Texas, the Indenture Trustee and the Rating Agencies on or before the
required date as indicated by the Servicing Agreement. One monthly
servicer certificate which was due on or before May 25, 2009 was delivered on
May 26, 2009, and another monthly servicer certificate which was due on or
before June 25, 2009 was delivered on June 30, 2009.
In our
opinion, except for the material noncompliance described in the preceding
paragraph, the Company complied, in all material respects, with the
aforementioned applicable servicing criteria for Entergy Gulf States
Reconstruction Funding I, LLC’s Senior Secured Transition Bonds, Series A as of
and for the year ended December 31, 2009.
Management's
assessment includes management's responses to the material noncompliance
identified in our examination. Such responses have not been subjected
to the procedures applied in our examination and, accordingly, we do not express
an opinion or provide any form of assurance on the appropriateness of the
responses or the effectiveness of any corrective actions described
therein.
/s/
Deloitte & Touche LLP
New
Orleans, Louisiana
March 29,
2010