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<br />WHEREAS, it IS necessary for the Municipality to commit itself to pay, pursuant to the Agreement, a pro <br />rata share of the developmental costs of the Hydro Projects in proportion to the kW of capacity from the <br />Hydro Projects that Municipality chooses to reserve to the total kW reserved by all participating <br />municipalities, such commitment limited, however to a financial obligation of no more than $32.84 per <br />kW reserved; and <br /> <br />WHEREAS, Municipality had, pursuant to Resolution adopted May 9th, 2006 authorized execution of a <br />similar development agreement, but which was limited to the Hydro Matrix technology and AMP-Ohio <br />has determined that conventional as well as newer technologies such as Hydro Matrix, must be explored, <br />now, therefore <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF MARTINSVILLE, in regular session <br />assembled November 14,2006: <br /> <br />SECTION 1: That the form of the Hydro Projects Developmental Cost Sharing Agreement [attached <br />heretolon file with the Clerk] as Exhibit 1 is hereby approved, subject to and with any and all changes <br />therein as hereinafter provided. <br /> <br />SECTION 2: That the City Manager is hereby authorized to execute a Hydro Developmental Cost <br />Sharing Agreement substantially in the form of Exhibit 1 for up to a nominal amount of 4,300 kW, with <br />the cost to the Municipality capped at $32.84 per kW which cannot be exceeded without further action of <br />this Council. <br /> <br />SECTION 3: That the authorization contained herein shall not obligate. the Municipality to incur any <br />liability for the actual construction of any Hydro Project without further action of this Council. <br /> <br />SECTION 4. That Resolution adopted May 9th , 2006 is hereby repealed. <br /> <br />SECTION 5: This Council finds and determines that all formal actions of this Council concerning and <br />relating to the adoption of this Resolution, to the extent required to be, were taken in an open meeting Of <br />this Council and that all deliberations of this Council and any of its committees that resulted in those <br />formal action were in compliance with the Law. <br /> <br />SECTION 6: This Resolution shall be effective at the earliest time permitted by law. <br /> <br />***** <br /> <br />Susan N. Johnson, Clerk of Council <br /> <br />Date Adopted <br /> <br />2 <br />