2006/05/29
The City of Niagara Falls, Ontario
Council Chambers
No.5 May 29, 2006
Moved by Alderman Morocco
Seconded by Alderman Ioannoni
WHEREAS Niagara Falls Hydro Holding Corporation ("Niagara Falls Hydro") and Peninsula West
Power Inc. ("Pen West") have been considering the merger of their respective electricity distribution
utilities (the "Merger"); and
WHEREAS the parties have negotiated a term sheet (the ""Term Sheet") which forms the basis for
their continued negotiations of the Merger.
THEREFORE BE IT RESOLVED that the Council of the Corporation of the City of Niagara
Falls, as the stakeholder of Niagara Falls Hydro, hereby approves, in principle, the Term Sheet and
authorizes Niagara Falls Hydro to proceed with the negotiation of the Merger.
AND The Seal of the Corporation be hereto affixed.
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R. T. (TED) SALCI
MAYOR
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