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+ 1 %06JECT DEVELOPMENT AGREEMEO r BETWEEN THE COUNTY OF INDEPENDENCE, ARKANSAS AND THE CITY OF BATESVILLE, ARKANSAS FOR THE WHITE RIVER LOCK AND DAM NO. 1 HYDROELECTRIC PROJECT This Agreement between the County of Independence Arkansas ("County") and the City of Batesville , Arkansas (City) for development of the White River Lock and Dam No. 1 Hydroelectric Project is made this ol> day of November, 1985 . RECITALS WHEREAS, the City has filed a license application before the Federal Energy Regulatory Commission (FERC) to develop a hydroelectric project at the White River Lock and Dam No. 1 known as FERC Project No. 4204 (Project 1) ; and WHEREAS, the City is interested in pursuing development of the Project in a manner that completely relieves the City of financial risk; and WHEREAS, the County has pending before the FERC license applications for hydroelectric projects at White River Lock and Dam Nos . 2 and 3, FERC Project Nos. 4660 and 4659 , respectively, (hereinafter Projects 2 and 3, respectively) ; and WHEREAS, the development of Project 1 will benefit power production at Project 2 due to hydraulic impacts from modification to flow releases available from construction of a hydroelectric project at Lock and Dam No. 1; and WHEREAS, the County is interested in developing all three of the proposed White River Hydroelectric Projects to make optimum use of the water resources available for hydroelectric development for local benefit; and WHEREAS, the City is willing to cooperate with the County to enable development of a hydroelectric project at Lock and Dam No. 1 for the ., benefit of the County and the City. That subject to the terms and conditions herein set out the City hereby . _I . - - -- - -i-- - ........1 -.P I --A 1+-ori 4re Tnaor%on_