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t <br /> Q <br /> RESOLUTION NO. <br /> A RESOLUTION AUTHORIZING A CONTRACT BETWEEN <br /> THE CITY AND RESOURCE MANAGEMENT <br /> INTERNATIONAL, INC. FOR FEASIBILITY REVIEW, <br /> POWER MARKETING CONSULTATION AND OTHER <br /> PURPOSES RELATED TO THE FINANCING OF <br /> HYDROELECTRIC GENERATION FACILITIES AT LOCK <br /> AND DAM NO. 1 ON THE WHITE RIVER; AND FOR <br /> OTHER PURPOSES . <br /> WHEREAS, the City of Batesville, Arkansas owns Lock <br /> and Dam No. 1 on the White River; and <br /> WHEREAS, the City has preliminarily investigated the <br /> feasibility of constructing and financing hydroelectric <br /> generation facilities in or near Lock and Dam No. 1 (the <br /> "Project" ) ; and <br /> WHEREAS, application has been made by the City to the <br /> Federal Energy Regulatory Commission for a license i;o construct <br /> (W the Project; and <br /> WHEREAS, the chief impediment to the ± .nancing of the <br /> Project, at this stage, is the burden of financing costs of <br /> design, feasibility studies, power supply contract negotiations, <br /> license al.plication, construction contract negotiations and <br /> similar, preliminary services, as traditional methods of <br /> financing contemplate the issuance of revenue bonds subsequent <br /> to the accomplishment of these tasks; and <br /> WHEREAS, there has been presented to the City the <br /> proposal (the "Proposal" ) of Resource Management International, <br /> Inc . ( "RMI" ) for the performance of feasibility review, power <br /> marketing consultation and related services, to the end that <br /> financing of the Project may be undertaken and carried out prior <br /> to the completion of preliminary services; and <br /> WHEREAS, RMI has performed services in connection with <br /> a number of successful hydroelectric generation projects and <br /> appears clearly to be qualified to perform the services <br /> described in the Proposal; <br /> NOW THEREFORE, BE IT RESOLVED by the City Council of <br /> the City of Batesville, Arkansas: <br /> Section 1 . The Mayor is authorized and directed to <br /> negotiate with RMI for the consummation of an agreement between <br /> the City and RMI , for the services described in the Proposal. <br /> The Mayor is authorized to execute such writings and take such <br />