1985-07-02-R - Laserfiche WebLink

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