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<br />'0 <br />~~ <br /> <br />TUESDAY <br /> <br />MARCH 27, 1979 <br /> <br />Martinsville must do everything possible to prevent possible <br />power shortages in order that business, industry and citizens <br />will not face economic losses and hardship. <br /> <br />4. To continue the City's historic role of providing electric <br />services to its citizens. <br /> <br />In 1903 the City's new hydroelectric plant provided for all <br />the City's needs, at a time when there were no private utility <br />companies. It was not until some 25 years later that APCo began <br />servicing the surrounding area. In the mid 30's the City <br />upgraded its hydro plant, and has gradually bought more power <br />from APCo to supplement our own generated power. <br /> <br />It is the City's right, and it has been historic precedent <br />for 75 years, to provide this vital service in a dependable <br />manner, to the benefit of all the citizens who are the owners <br />and beneficiaries of the system. <br /> <br />Council then received the following reports (hereinafter made a part of these minutes <br /> <br />by insert) from the following members of Council: <br /> <br />1. Energy Needs of the Future . <br />2. Economic Impact of the Lake <br />3. Engineering Feasibility <br />4. Financial Analysis . . . <br /> <br />Mayor Hobson; <br />Councilman Oakes; <br />Vice Mayor Cole; and <br />Councilman Greene. <br /> <br />The record notes that Councilman West's assignment, involving public information, would <br /> <br />become effective only when and if project approval takes place. <br /> <br />Several citizens present directed inquiries or questions pertaining to certain points <br /> <br />of the several reports, following which Mr. Henry C. Reed, President of The First <br /> <br />National Bank of Martinsville & Henry County, on the assumption that the financial <br /> <br />findings and data (i.e., of financing the project) are correct, expressed support of <br /> <br />the project and urged Council to proceed therewith, certainly with the next step (Phase <br /> <br />IIA) conditionally recommended by Vice Mayor Cole in his report. <br /> <br />Council continued this recommendation to its next regular meeting, to provide additional <br /> <br />time for study and for additional input from citizens. <br /> <br />Council was adjourned. <br /> <br />, " '.. ~'._J_, '" , " ') <br /> <br />W. H. 1eaman, Clerk of Council <br />