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EXHIBIT A
<br /> DESCRIPTION OF THE PROJECT AND CERTAIN TERMS
<br /> (1) Description of the Project
<br /> The Project consists of the construction of a powerhouse,penstock, bifurcation,connection to the
<br /> existing St. Vrain Supply Canal, and integration into the power grid of the following equipment:
<br /> two synchronous, 1,300-kilowatt, horizontal Francis turbines, generators, valves, associated
<br /> piping, switchgear, SCADA, instrumentation, and transformers, and other improvements on and
<br /> related to the site.
<br /> (2) Description of System
<br /> "System" shall mean, (i) any facility, plant, works, system, building, structure, improvement,
<br /> machinery, equipment, fixture, or other real or personal property, relating to the generation and
<br /> distribution of hydropower electricity that is owned, operated, or controlled by the Governmental
<br /> Agency, including, without limitation, the Project, (ii) any renewal, replacement, addition,
<br /> modification or improvement to (i) above, and (iii)all real or personal property and rights therein
<br /> and appurtenances thereto necessary or useful or convenient for the effectiveness of the purposes
<br /> of the Governmental Agency in the generation,transmission, and distribution of hydroelectricity.
<br /> (3) Pledged Property
<br /> The Pledged Property shall consist of Net Revenue of the System,as defined below:
<br /> "Net Revenue" means the Gross Revenue after deducting the Operation and Maintenance
<br /> Expenses.
<br /> "Gross Revenue" means all income and revenues directly or indirectly derived by the
<br /> Governmental Agency from the operation and use of the System, or any part thereof, including
<br /> without limitation, any rates, fees (including without limitation plant investment fees and
<br /> availability fees), and charges for the services furnished by, or the use of, the System, and all
<br /> income attributable to any past or future dispositions of property or rights, or to any related
<br /> contracts, settlements, or judgments held or obtained in connection with the System or its
<br /> operations, (including,without limitation,the Power Purchase Agreement described in Paragraph
<br /> 4 of this Exhibit A and in Paragraph 1 of Exhibit F hereto), and any amendments or
<br /> modifications thereto and including investment income accruing from such moneys; provided
<br /> however, that there shall be excluded from Gross Revenue: ad valorem property taxes; any
<br /> moneys borrowed and used for providing Capital Improvements; any money and securities, and
<br /> investment income therefrom, in any refunding fund, escrow account, or similar account,
<br /> A-1
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