  A model for correlated electrons in a lattice with local additional spin--1
degrees of freedom inducing constrained hopping, is studied both in the low
density limit and at quarter filling. We show that in both 1D and 2D two
particles form a bound state even in presence of a repulsive U<U_c. A picture
of a dilute Bose gas, leading to off-diagonal long range order (LRO) in 2D
(quasi-LRO in 1D), is supported by quantitative calculations in 1D which allow
for a determination of the phase diagram.
