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<br /> <br />}~j -i(~ Ios ~ll'e f~ 5 <br /> <br />CITY OF MARTINSVILLE <br /> <br />MARTINSVILLE, VIRGINIA 24112 <br /> <br />OFFICE OF CITY MANAGER <br /> <br />J> /\ '-f\ r:~ : <br /> <br />/\ug,mt tS, 1:!f:,O <br /> <br />'I'D: <br /> <br />T h-::: liO!w:.' ~"b le :Vi.T~/Cl' Dnd CH y C'Cm:'~cil <br /> <br />r'l{()}~ : <br /> <br />[":-0::1 Ii p I:: cir:.iotl Ct3 'I (; tty! [vIa~) aRc~r <br /> <br />S 'UH.L~r,'l' : Statu<:Hepod, Findine's and l",ecom:nendDti()ns CG'lC('lrlYJj'f' <br />U'-', J{j(;g"(:w~~) I~Y(!l.'l,eh~l.~trje Projoet <br /> <br />In rCSrWllse to thc~ CHy Cour:r~ij!s i'cque;:'lt in a Sp'~~ci8] D1cetin p: <br />1 ~;ii(), this i~.' to report GH the cun'nr:1 st'1tHr~ of tne Hj(:f}:e..,'~;:{ <br />t,rld to IIw1-J' eCl.'lain FCCOil'l'il,..;:,';daUolls for irnr.1ediaie nnd flit':H'i~ <br />h)iCCllllCH. <br /> <br />() n .} lJ 1."'/ <br /> <br />(I~ <br />-'~ !; <br /> <br />Iiyd!'o ('1 <br />e::n !.'.,} rk r".'l"l} ;:,:) <br /> <br />i)p0.eLl ~1pp;:'('('L"i.'Lm is clUt~ ow' vndol'\s conf::llH:.:,1L:;, the st3.fl' , H-h~ M:=;y<w <br />C~rc~;:l:: f(.d.~ HS.::t:~t:JrlCe hTid. nrln1"y~~i~) lJp'OIl \vlriGh tllese rCCOTl11nCil.C.htio.t1.s (11.(; <br />iE part based, <br /> <br />HISTOR)' OF PRO.TEeT <br /> <br />1'1'1,"; Cit:~l of ~du.dinf'vme hus been serving its citizens wHh c1ceLl'iell.y GHJ.':::C: <br />ny; early 191;01(';, wh2n:,t ~onstl'uc:ted the Smith Rjver Hydroeleetd(,; l'L'::Lt, <br />In the lD30' s. the originfi.l dam waf> raised and pow.:~r plant re]oc~8t8d [t:\(l (~~-(~)(:r;..:!,'J. <br />to the pt'e:!('n.t C8p'leity. A.s denland uUtp'8l'l 1:his som'ee, the City bi2!:'ilY1 tu <br />pur,::.hn':3'2 power at 'Nholesde ratee> from Appalachi&n Povvm' Comparry (/~PCJ) <br />flnd to rc~:ell tilL:; power tu its citi~~ens in aeccordance ','lith APCo's re~:dl <br />1'at88. Curr8n t1:', the City generates on]y about 3% of its 01,"/11 PC,!.,T\:,r, p',Jr- <br />dH:~ji~f; D7'i; [rum A.pee. After paying' the operating expenses of tlv~ El~~ctrie <br />D2~); l'tL181~t, r:1\J(:11 of UIe profit developed by buying APC018 pDwer wh(,ksai0 <br />and sening' it r:~t l'ct:dJ 1'utes hat, trachtionany been trnJ1sferre.-: to the CHy'g <br />Ge;v:~1'8J .Fun'l. 'Ill(; total ar~lOunt of this transfer during the J.1St five f~scal <br />yem's.vds S;], Hltl, l15l1. The result OVer the years has been a COiJ1}Jal'i liYe~y <br />1mv ad vala!'em 'lax Slluatie,n for Mm'tinsville citizens. <br />