Agenda 05/09/2006 - Laserfiche WebLink

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AMP-OHIO CONTRACT NO, C-2-2006-4967 Execution Copy HYDROMATRIX PROJECTS DEVELOPMENTAL SUBSCRIPTION AND COST SHARING AGREEMENT CITY OF MARTINSVILLE, VIRGINIA ("Municipality") WHEREAS, American Municipal Power-Ohio, Inc. (hereinafter "AMP-Ohio") has made a preliminary determination that its members can beneficially utilize the output of one or more new hydroelectric power generation facilities, of up to approximately 115,000 kW, utilizing HYDROMA TRIX technology, to be constructed, owned and operated by participating AMP-Ohio members, or by AMP-Ohio on behalf of participating members, and individual units to begin being put into service before the end of 2009 with the balance of units coming on line sequentially until all units are in service (hereinafter "HYDROMATRIX Projects"); WHEREAS, AMP-Ohio has preliminarily determined that the HYDROMA TRIX Projects may be economically and technically feasible; WHEREAS, it is prudent to conduct further economic and technical studies to determine, among other things, the projected costs of the HYDROMATRIX Projects and to design and permit said HYDROMA TRIX Projects (hereinafter "Developmental Phase"), in order to determine if the HYDROMA TRIX Projects should be constructed and if the Municipality, along with other AMP-Ohio members, should commit to the construction ofthe same; WHEREAS, if AMP-Ohio recommends construction of HYDROMA TRIX Projects and Municipality decides to participate and commit to its pro rata share of costs associated with its share of kW capacity, Municipality and AMP-Ohio shall have executed a Construction Subscription agreement; WHEREAS, Municipality desires to participate in the Developmental Phase and to reserve up to a nominal 4,300 kilowatts (kW) of the HYDRO MATRIX Projects' capacity; WHEREAS, In order to fund the costs of the Developmental Phase, Municipality agrees to pay AMP-Ohio for Municipality's pro rata share of the costs of the Developmental Phase of the Page 1