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<br />Non-Financing Version Dated Jan. 2007 <br /> <br />Pertaining to Contract No. C-2-2007- <br /> <br />City of Martinsville, Virginia <br /> <br />RESOLUTION <br /> <br />TO AMEND THE POWER SALES AGREEMENT <br />WITH AMP-OHIO DATED MARCH 2, 2006 <br /> <br />AUTHORIZING the City Manal!er (or Assistant City Manal!er, in his absence) to execute an <br />amendment to the Power Sales Agreement with American Municipal Power - Ohio, Inc., <br />("AMP-Ohio") dated March 2, 2006 (AMP-Ohio Contract No. C-3-2006-4996) in order to <br />purchase additional power and associated energy from AMP-Ohio. <br /> <br />WHEREAS, the City of Martinsville, Virginia (the "Municipality"), owns and operates <br />an electric utility system for the sale of electric power and associated energy for the benefit of its <br />citizens and taxpayers; and <br /> <br />WHEREAS, Municipality and AMP-Ohio entered into a Power Sales Agreement in <br />March of 2006, AMP-Ohio Contract No. C-3-2006-4996, ("herein 2006 Power Sales <br />Agreement") for the purchase of the Municipalities All Requirements power and energy from <br />AMP-Ohio for the years 2006, 2007 and 2008; and <br /> <br />WHEREAS, the parties desire to amend the 2006 Power Sales Agreement to authorize <br />additional purchases of power and energy from AMP-Ohio under the same terms and conditions <br />in various megawatt blocks for extended terms with delivery beginning in 2009, each purchase <br />with a term to end no later than December 31, 2017; and <br /> <br />WHEREAS, AMP-Ohio has provided appropriate personnel and information regarding <br />the Amendment of the 2006 Power Sales Agreement, as such officers and representatives of this <br />Municipality have deemed necessary or appropriate, to enable this Municipality to evaluate the <br />benefits and risks of the additional power purchases authorized by the Amendment to the 2006 <br />Power Sales Agreement and to take actions contemplated by the resolution hereinafter set forth, <br />and to determine the same are in the public interest; and <br /> <br />NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF <br />MARTINSVILLE, VIRGINIA IN REGULAR SESSION ASSEMBLED ON MARCH 27,2007. <br /> <br />SECTION 1. The table of projected blocks of power in Section 301 of the 2006 Power <br />Sales Agreement shaH be amended to show the additional blocks of power. <br /> <br />Amount Description DavslWeek Hours/Dav Start Date End Date Supplier <br />5.5MW 7.24 Sunday - Saturday 24 1/01/09 12/31/10 TBD Steps 1 - <br /> 2 <br />3.5MW 7x24 Sunday - Saturday 24 1/01/09 12/31/12 TBD Steps 1 - <br /> 2 <br />3MW 7x24 Sunday - Saturday 24 1/01/09 12/31/17 TBD Steps 1 - <br /> 2 <br />4MW 5x16 Monday - Friday 16 1/01/09 12/31/11 TBD Steps 1 - <br /> 2 <br />