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<br />g~ <br /> <br />November 14, 2006 <br /> <br />A regular work session of the Council of the City of Martinsville, Virginia, <br /> <br />was held on November 14, 2006, in Council Chamber, Municipal Building, <br /> <br />beginning at 4:00 P. M., with Mayor Kimble Reynolds presiding. Council <br /> <br />Members present included: Kimble Reynolds, Jr., Mayor and Council Members <br /> <br />Mark T. Anderson, J. Ronald Ferrill and Kathy C. Lawson. Vice Mayor Clark <br /> <br />was absent. Mayor Reynolds opened the meeting. <br /> <br />Council considered the need to adopt a Resolution authorizing the City <br /> <br />Manager to execute an agreement with AMP-Ohio concerning the hydro <br /> <br />developmental cost sharing agreement and the repeal of the hydro matrix <br /> <br />resolution dated May 9, 2006. After an overview by City Manager Collins and <br /> <br />questions from Council, Council Member Anderson moved to adopt the <br /> <br />following Resolution; the motion was duly seconded and carried by the <br /> <br />following vote, all members voting: Vote: 4-0. Yeas: (4) - Reynolds, Anderson, <br /> <br />Ferrill, Lawson. Nays: (0) -None. Absent: (1) - Clark. <br /> <br />RESOLUTION AUTHORIZING <br />THE EXECUTION OF A HYDRO DEVELOPMENTAL <br />COST SHARING AGREEMENT BY <br />THE CITY OF MARTINSVILLE <br />WITH AMERICAN MUNICIPAL POWER-OHIO, INC. <br />AND REPEALING RESOLUTION ADOPTED MAY 9th OF 2006 <br /> <br />WHEREAS, the City of Martinsville (herein after "Municipality") owns and operates an electric <br />utility system for the benefit of the Municipality, its citizens and taxpayers; and <br /> <br />WHEREAS, by working jointly with American Municipal Power-Ohio, Inc. (hereinafter "AMP-Ohio") <br />and the other municipalities which are members of AMP-Ohio, the Municipality can supply its electric <br />utility consumers with reliable service at reasonable rates; and <br /> <br />WHEREAS, a need has been identified for an environmentally sound, reasonably priced and reliable long <br />term power source for the Municipality's electric utility consumers; and <br />