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RESOURCE • MANAGEMENT INTERNATIONAL INC. RIVER FRONT PLACE • SUITE 710 RTH LITTLE ROCK, ARKANSAS 72114 (501) 372-1773 May 2 , 1986 The Honorable James Shirrell Mayor, City of Batesville 170 South Fourth Street Batesville, AR 72501 Subject: Feasibility Assessment for Lock and Dam No. 1 Hydroelectric Project Dear Mayor Sherrill: Resource Management International (RMI ) entered into a contract with the City of Batesville for assessment of the feasibility of the Lock and Dam No. 1 Hydroelectric Project in July 1985 . Under the terms of that agreement, in the event RMI determined the Project to be feasible and the City elected not to proceed with the Project, the City was obligated to compensate RMI in the amount of $15, 000 . RMI conducted the feasibility assessment and found the Project to be feasible. The City Council elected not to proceed with the Project in October 1985 . After the City Council decision, the City entered into an arrangement with Independence County to participate in the development of the Project if financing was obtained. As part of this agreement, the County agreed to assume the City' s responsibilities to compensate RMI for work performed with regard to Lock and Dam No. 1 . The County has completed financing arrangements for Hydroelectric Projects at Lock and Dam Nos. 1, 2 and 3. Through this financing, the County has compensated RMI for its services, including those performed with respect to Lock and Dam No. 1. The City has no further obligation to RMI under our agreement. We look forward to the opportunity to continue working with the City as a joint partici- pant in the White River Hydroelectric Projects. Sincerely, Henry C. Koner Vice President HCK/kg cc: Lloyd Harvego Ronald 0. Nichols