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i <br /> (W <br /> ® ORDINANCE NO. <br /> AN ORDINANCE AUTHORIZING AND APPROVING <br /> AMENDMENTS TO THE PROJECT DEVELOPMENT <br /> AGREEMENT FOR THE WHITE RIVER LOCK AND DAM NO. <br /> 1 HYDROELECTRIC POWER GENERATION PROJECT; <br /> DECLARING AN EMERGENCY; AND FOR OTHER <br /> PURPOSES. <br /> WHEREAS, the City of Batesville, Arkansas (the "City" ) <br /> and Independence County, Arkansas (the "County" ) have entered into <br /> a Project Development Agreement dated November 23 , 1985, as amended <br /> by the Amendment to Project Development Agreement dated May, 1997 <br /> (the "Original Agreement" ) pertaining to the development and <br /> financing, by the County, of hydroelectric power facilities at Lock <br /> and Dam No. 1, in the White River ( "Project 111 ) ; and <br /> WHEREAS, the City and the County have agreed, in Section <br /> 5 . 0 of the Original Agreement, to enter into such other agreements <br /> as may be necessary or appropriate, consistent with the Original <br /> Agreement; and <br /> WHEREAS, it is appropriate that the Original Agreement be <br /> amended and supplemented in order that the County may go forward <br /> with the development and financing of Project 1 and the commitments <br /> that may be required to that end; <br /> NOW, THEREFORE, BE IT ORDAINED by the City Council of the <br /> City of Batesville, Arkansas : <br /> Section 1 . The Second Amendment to Project Agreement is <br /> approved in substantially the form presented at the meeting at <br /> which this Ordinance is addressed. The Mayor is authorized to <br /> execute and deliver the Second Amendment to Project Agreement with <br /> such changes as he may approve, consistent with the purposes of <br /> this Ordinance, his execution to constitute conclusive evidence of <br /> the approval thereof . <br /> Section 2 . The Mayor is authorized to execute such <br /> writings and take such action as may be appropriate to carry out <br /> the terms and purposes of this Ordinance and the development and <br /> financing of Project 1 . <br /> Section 3 . It has been found that Project 1 is important <br /> to the continued growth and development of the City and that, <br /> particularly because of the requirements of regulatory agencies, <br /> financing and development of Project 1 must commence without delay, <br /> Therefore, an emergency is declared and this Ordinance, being <br /> necessary for the preservation of the public peace, health and <br /> safety, shall be in force upon its passage . <br />