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<br />Prior to the referendum, it was agreed that the financial advisory group <br />would: <br /> <br />a. Survey the City's financial resources <br /> <br />b. Review the engineer's feasibility studies <br /> <br />c. Develop the be st plan (or various alterna tives) for <br />financing the project <br /> <br />d. Assist in the development of public information on <br />the project and required financing. <br /> <br />After the referendum, it was agreed that the group would: <br /> <br />a. Continue to assist the engineers, as necessary <br /> <br />b. Render advice, based on market conditions, as to <br />whether to market the bonds on a competitive or a <br />negotiated basis. <br /> <br />c. Provide a variety of other technical services, depending <br />in nature on whether the bonds are sold competitively or <br />by negotiation. Under this agreement, the group is to be <br />paid $10,000 for costs incurred through the date of a <br />referendum and an additional $50,000 fee for services <br />rendered from the date of a referendum through the bond issue. <br /> <br />CURRENT AND FUTURE ENGINEERING CONSIDERATIONS <br /> <br />Beck is completing the Phase 11- B Evaluation Report, and if the Ridgeway <br />Project is to stay on schedule (and go "on-line" by mid-1986) Phase III <br />will have to be authorized to proceed almost immediately. (See Appendix A for <br />schematic of overall design and construction schedule update to August 1, <br />1980. ) Phase III, like Phase II, is planned to be two-part, both parts of <br />which are necessary to secure a permanent license for the project from FERC. <br /> <br />"Phase III-A - Preparation of FERC License Application" is an involved set <br />of engineering efforts, requiring about 16 months, culminating in a final <br />bound application (100 copies) to FERC for a license to construct and operate <br />the Ridgeway Hydro Project. (See Appendix B for Phase III-A proposed scope <br />of services.) Beck will have to: <br /> <br />a. Meet preliminarily with FERC. <br /> <br />b. Meet with various other federal, state and local agencies <br />as to certain of the license requirements. <br /> <br />c. Perform detailed office and field studies as to fish and <br />wildlife concerns; recreation development; preservation <br />of natural, historical and archeological features; and <br />other environmental assessments. <br /> <br />-6- <br />