ML20198G068

Taunton Municipal Lighting Plant 1997 Annual Rept

ML20198G068
Person / Time
Site:	Seabrook
Issue date:	12/31/1997
From:	Blain J, Thornton G TAUNTON MUNICIPAL LIGHTING PLANT
To:
Shared Package
ML20198F859	List: ML20198F851 ML20198F951 ML20198G012 ML20198G027 ML20198G035 ML20198G048 ML20198G068 ML20198G080 ML20198G102
References
NUDOCS 9812280287
Download: ML20198G068 (24)

Text

___ _

7 l

om . , m, .

e <

Saluting our history., Welcoming .our future. ~

D' t t),

1 . <i- o m <

i 1 (-> c; . '38 + it + i

' " 5 ') I

, i i ?^i l o e a!!e r d: ' I t!. e M g. n .

r i ' f: t2

.,s ,

II ' ! '!'

I ~1 , ,

uit i i s .- ie ,e ] Ia s l'!; "'1- I' 5 t $

i

, , 3

' I ' ~ i l'.*~ l O.4 M i g

ob-- ..nt i a; n.g : *5 1 - # M. I U- ' I I- -

,  ;; .) ,

i r; e WRLEB' RATING

,n , .

1.. . , e

.m m 1 1 ,

00 ;YEARSd '

f':IP [f ,; + t ,5 , . ,, # ' '

' ' T4 l , ,g myg ,,,g.

u no n 1 , f , ?. _' '"" '

,. -o M * '

- ' h, Annual Report

• Taunton M unicipal Ligh ting Pla n t e 9812280297 991216 PDR ADOCK 05000443 I PDR ,

, s . . , . . .

P

,4 k

a-

.. . . . , . . . ,,,.,..,..n,z ur. ., . w. , e m a n m.

m ,

o Saluting our history.,Welooming our, future. .

mr ,m

, ~"i -

a4 o r. - . , , m

-- omo, a amu r > , . u f i .. . . 'o o: b" "" ' " '

s n: 4 q ,.

/ , ; "' ' E " '

a lt"at e o;. i : tne c: Mac d :- 'bi UM'"' ' I'- ' 'd"' '

, " .l p . .o

' W'""b 50 b 05 r .od . n;a pa n ,

he y' nu ta 04 th Mc N 4 " '

t 't 2'

's w!.5,h & :, w er o up: e n., o n i i u ' u .4 M a n: .t ul

, ,' , ,,.tn,.., .

' ' '*II"

' DE- '!:" hn t t g ., .i,

0ErLLEBRATING r 100 YEA,RS5

, , 3 1 g [i ' t : I.: of t h ,

. um 1: .a e  : , , o i; J'

m 1lf ; ',

J M.'" ?l,f"u".;' F'+u n ,..llrI "2 ""

.a

"""""mE'"""""'"'-

.<,a

.o. . ~" ?m 9.:

,, m o m ' ' i tC.:"It ' . 7"*TfUl' q.

Of i # (* I 'tiy +3 4 7-l , 3 g,[

,m n. g-

.,,Jg7 p , ,j , ; j ,; g , , ii, j j r 1 l

1 g .,g j, g e + a t.n m ..o. om ,,,-,s . . , ,  ;,, , ,, ,: .,

3 a -

Annual Report

• Taunton Municipal Lighting Plant e 9812280287 981216 PDR ADOCK 05000443 1 PDR .

y

.m

. , , , , -o

' M/ 4,tf t ,,, Wh '*

Q a,

t f Q.

b1 p',N , p WM **

, , , , - . J h.

y ${y : . . .

.-3

'5 #

. y , mais s'""*

s 4

.b a 4 s

c . e <

. I, 1[; ,',j

.y. ;tl '

n e

The First Annual Report Meticulously rendered in longhand, TM LP's first annual report tells the story of a company that takes seriously its fiduciary responsibility to the emerging l l City of Taunton. Today, this report is still i

l in museum-quality condition, the mark of i

a company with an abiding respect for and i

s responsibility to its community. l i

f l

i TABLE OF 5 m s, m '.

j

<< ph"n n u em ,a on ,-l*0'O N T mEuuN3 gT S "'o m

m s .r e *.

n "a A y

3 I

i.

W T A"4' , ,

me, e ,

y 'Q:l&((+:.fl vr..c

'j, A $yidg&pp , , . ' '

l,3 v?

. (( "

g Q

f[ y n ::; general w.4 .,

a.

m l" gManager'yLetter3 J d gz fQj 2.

.p y ,%,} y Z ' y. , . .

~ .

.n +

,

• W ^ 4 Tear in' Review

r 4- 1 "y"

3n'

, , . , o  : 8 > h . .,

, ' ~ " c, ac i

u, , . . . . . , .t '

• 3,

,*'ff

'~

a.u., ,.- Emmyleyee LANimy l4 l, 13 "k ,;

. 'e -,r o n .; > ,1 mn , <

'I r ' /

r

• s , 4i - . at , .. i I ,

5 ' I l' t a- ' i2A'udit'or's LetterR t* "

o e, 13

r. m n +

.e i o.o;' i o m L ut. 1 o . , ' u,m, .

, o. u , ,,

u y41i '

,a

( ,y6 ,, ,. ,, ,, , ,sta. 3 a A ') Pt $

' . ( y, '

~'L n ,- u m.

.,s,.

g;' s L Enlance Sheets " s' ,' + ' <

- 14 ' ' " ' '

N

.w a - ~m w - , s. , , ,. a r s., ',

• 1 m- . t g .. ,.

3.: ,, . . . ,

, is < , , 4 1 l"' ,(

., , y.

Statements of Earnimrs , ' ,

./

'18j 3 hfU L ,

+

? 1 ';t i

u 7 g", ,,

.J Statements of Retalmed Earnings r r. , -

- . , 4

' , '. .o 1 51

.n i ,

.o

3. t i , 'u

, <p,g u

w ma ms - , , , , , -m .,, c 1. m t. .o . c m 1.. ,,

. 2~  ; . , . , , ., - : n v . .. m o

,,w; Statements of Onsa Flows ,

tp o gg

, Ju 4 m.

1 s ,

su 1

. e - b ele < i

-a- >

u ,<

a ";

i:i* 10 m % 5 c g fi , t , , .,e 's ' r 3 ,fgf , ; . . 3 t . ., 3. ..%. .. . . o ,

r ' * ' '

.D# ,,

,, s .. Notes to Finamet,al Statements . r.

=- t -

a17+ -

i o -

4 , .

a, 'E ,g,f (

4 g 4 I ,

• d ' *: .

&' ,e 5 g

. n m i s, . - < ,

r pu i:.'

b :.

--. e,,meme

,,,,,t< .

to s <-

./4

• wu

.I h u > I . - ! .i r

,ww ~ - - - w.,,.fy ww,,.

J. d j:O

.w.m.m.w.

r ii

. g 4

(i C.

,,,  ; , , ,y

. . . p, c7 , . s . v . r, I j) I j }f gf_(%y t T p3 C QV V 4 # V L,4 ' l { ",' y y I ( { e h'

f .' ' ' 1 g4,j ?'i A d

-4,4 p jM pbty~ty p_ # y ,4w.A .w =

1

• d I ,,n '

%.  : 'ei. 4>: '

. /s , owin . a .; a , ,- ' ,

,g

',' 'N' ',f g (

P y' P. b 9 n{.~.{ a f Nu f (y c(n'y {} - g g # g,3.-m. a<f p* p g*

• y en

,,f r.%

, j 1. ' y

, h ,- h {

$ \ $ , } $'

' h- ;l , !' 0 d

L' t ,

,, i u i '

11 ,

.;i , S W ,

. [' s j u ard

, , ,

a

• i e i k n <r t N) Mrt s Lr q$ ie , ;ya i t '.: c} k 2 + M:;', , i s t t

~ . -

yw=rg;;

,  : 5 ; , , >  ;- zygg @

%  ;: , c., x - 2s1 --

~, r.g ih , ,

kfc:: 4.'

$)

h. I

, p;c Ir .h

~

yI h .'

c  ;

m ,

,o ,?  ; )'

?

f e-

]( - (;k \)5 y

$+ I: -

4 y

, k, ;; j- ' s) .[. '

d' l if. 'gy4

}

y

[ ig2d[,

~

" " f\4

. s . .

5 V

x  ; N

%g.

- / ;,,,:- s

-4 .

, y 4 33

'E g ,,

~3

, flI.-:H: \ ;).g -l v n;

<}$ - ^

,qw ,e

,s;#  ;, l

[ -l) m n

AY 26.:1920c; @ t .

= =&.u w +am-u- - - -~+mxm . l- r m

}-

4 1 UUUIBUBL E fA y UBRU .

.y Special Committee of C 1THE PURCHASE OF 4

• ~2C CommissionandCommit r

s _

. 1 sented an Exhaustwe:

90 rder:Aphroprising $400,560}as Unah 1- '" "*@'

. of Power and Rate a

s J:imousis Passed to aSecond Reading at thh t.u..~h; + La " '-

..- . . . - - - - . . - - .- _ -- _.-. .. -.--- - .- . ~ . .

GENERAL MANAGER'S LETTER l

For TAILP,1997 was in fact two years gift-wrapped as one. In the first, we looked back fondly on what seems now like simpler times. In the second, we took steps to embrace strategies, tech-nologies and opportunities that were, until recently, all but unimaginable.

Fitst things first.1997 marked TAILP's centennial, representing 100 years of achieve-ment...of community...and of blood, sweat and triumphs. From January to December, we celebrated in every way we knew how. In June we reached the high point - litmily - w A the presentation of TAILP's Laser Light Show on Taunton Green. Twenty thousand pwa p. ne Green that night, the largest assemblage since President llarry Truman went through town.

1997 was also a year of transition, a watershed year in the life of TAILP. The twin freight trains of deregulation and restructuring, on schedule to remake the industry, threw many sectors of the energy market wide open to competition. In November 1997, we were granted an exemption from retail restructuring in order to evaluate its ramifications more fully. Ironically, the exemption also enabled us to " stick our toe"into the deregulated wholesale market, as we joined Energy New England to buy power more economically. The bottom line: TA1LP's status as one of the Commonwealth's low-est cost energy providers is likely to remain unchallenged.

A century ago, all of a utility's "hard wor.m" was done by men, horses, and very large pieces cf equipment. From now on, all heavy lifting will be done technolo,,ically. In the new age of energy, j i information technology drives the production, transmission and distribution of power. TAILP is proud to join other utilities on the leading edge of this initiative.

In 1997, the utility completed computerizing plant and external operations. We continued l to install fiberoptic cable throughout the city in support of this technology. We converted lines and installed new equipment, both to keep pace with growth in East Taunton and llerkley and to ensure continued economic development in the Atyles Standish Industrial Park. And, for the first time, we

were able to offer both commercial and residential customers superior Internet access.

l 1

Speaking for the people of TAILP, I venture to say that the future is a bright one for your

]

utility. We serve great customers and have before us great opportunities. I am certain that we will con-tinue to meet the demand of the former, and fulfill the promises of the latter.

I 1 i'  :

1

. A -

7 i

Joseph A1. filain, General Atanager a

1 I

l CENERAL MANAGER'S LETTER l For TAILP,1997 was in fact two years gift-wrapped as one. In the first, we looked back fondly on what seems now like simpler times.1n the second, we took steps to embrace strategies, tech-nologies and opportunities that were, until recently, all but unimaginable. l First things first.1997 marked TAILP's centennial, representing 100 years of achieve-ment...of community...and of blood, sweat and triumphs. From January to December, we celebrated in every way we knew how. In June we reached the Ligh point -literally - with the presentation of l TAILP's Laser Light Show on Taunton Green. Twenty thousand people graced the Green that night, l

the largest assemblage since President liarry Truman went through town.

1997 was also a ye9r of transition, a watershed year in the life of TAILP. The twin freight I trains of deregulation and restructuring, on schedule to remake the industry, threw many sectors of the energy market wide open to competition. In November 1997, we were granted an exemption from retail restructuring in order to evaluate its ramifications more fully. Ironically, the exemption also enabled us to " stick our toe"into the deregulated wholesale market, as we joined Energy New England to buy power more economically. The bottom line: TA1LP's status as one of the Commonwealth's low-est cost energy providers is likely to remain unchallenged.

A century ago, all of a utility's "hard work" was done by men, horses, and very large pieces of equipment. From now on, all heavy lifting will be done technologically. In the new age of energy, information technology drives the production, transmission and distribution of power. TA1LP is proud to join other utilities on the leading edge of this initiative.

In 1997, the utility completed computerizing plant and external operations. We continued to install fiberoptic cable throughout the city in support of this technology. We converted lines and installed new equipment, both to keep pace with growth in East Taunton and llerkley and to ensure continued economic development in the A1yles Standish Industrial Park. And, for the first time, we were able to offer both commercial and residential customers superior Internet access.

Speaking for the people of TAILP, I venture to say that the future is a bright one for your utility. We serve great customers and have before us great opportunities. I am certain that we will con-tinue to meet the demand of the former, and fulfill the promises of the latter.

e -

/

Joseph A1. Illain, General Atanager 3

M' .

yow h wo nz. m , w  % .q . wa c;me m n m r ou; ,

, w , , , , s rug,n .

m e, ,

<< > k *M xu? "< m SQr pfu p pMem at no bu6 tt w ttusue ' . ..

i to men t, yo .- g M, ,-6 m <t w"

.1 n,

< 1 y,g 1 ,

hla t 9 3 g,y gg, . 0f dm Wu.r 3 ,n d

9 " - .Mt t t I Is 4!  ?

'n > e 1 r' '

~\

fny>n *v ve w wm

- , ,+ em uwm + d N U - .. ,.

a' w mager ts".,y.ri.ne.H y . mC ' er e mi w wm riet.auro 6.ut := seas, j ~. -r ,' ^-

th' ******* *' *1**

c eo ' .e ma $h. me.ha.s.e z o.; ,

, 1 < tria'*r N=r** -

1 a A tm ,..e, , t.ts., ,, ,

o. , m .her. i. str.t trial,s n.,

m a , %r  % , y, g m.,g _ , , ,, e .r .r .l..trie .ar. s we i 7mpr y; qu4 4 %,m.m y A ,1 6 Im Tammten,1893. 1

' M 4 li'@ coyQ t ;[g

. c h a pc g, j , j g ; 7 g,,,g pt t e r t

( 7 . , . . .g$5 a:@ )? ih#l sul .Wr i n' 19 ,u ss, ,+ y - .n Z u' t h  :;.... v t~

. $1 rf, d "

ib1 , ..o '

QMgQg. ..gg T'.. .33'-i i b- 31. , th s m oi; - ' o i

, #1 > c' . ,. a N4 eMt NTNnM- . N 'I ' ' CM#

• II

1. IO

.'...>.s.,

f 8 ja a fh+ Wi > ' O NT A *

It fId ' I o' ' i c

d ' 57

. u,_ ., g4 an- m,.

15 aust rir. 7.ars ars., th. city er Taunten purchased the utility frosa THE MARKET CHANGES - TMLP RESPONDS fifteen private citisens in 1so7 Dereguladon and concurrent restructuring are rapidly changing the desmand for electrie service necessi.

tated the construction of the W.st electric utilities industry. The production and delivery of electrical power has now Waser Street Generating Station, seampleted in 1902. With a capacity been "disaggregated" into production, transmission, and distribution entities.

er soo kil watts, the station gener.

ated tar usere skan the original Historically, electricity in New England has been dispatched as one utility, based Meekmaics Lane plant - but far less than what weald soon be me.ded. upon a % west cost 6d mdel eb Wuly W, tb anual Wspatch is being con-trolled by an independent system operator, or "150." In this new model, power will be bought and sold through transactions similar to those that take place on the Cne key cosaponent of restruetar.

ing anews ter power to be bought stock market. Each resource will be bid into the ISO clearing system based upon and sold through transactions siani.

lar to those that take place on the an hourly price. Clearly, this scenario creates a much more complex environment stock anarket.

in terms of power production.

._ TAILP has taken a conservative approach with respect to retail restruc-turing. Working closely with the legislature and other staleholders, the utility has

/

secured an exuaption from its implementation. The reason: If restructuring fails, for any re.. son, there is no identified process to correct damages.

- L f f '

Given its standing as a municipally owned utility, TAILP's cus-1 . g/ f _ tomers would be required to pay. Instead, the utility is using gn .

d.) g

>d ; 3' i' this window of opportunity afforded by the exemption to h r -

.- p--- .y -

L work more closely with its customers, and to understand i

J !i y

J l  :.

., from their perspective uhat works best for them.

ll '

is

~,~

} RESTRUCTURING AS OPPORTUNITY

.' P+ .

s .

}'

> y Li

[- At the same time, the utility

[L -

. 1. -

[ ,

~. '

realizes the magnitude of the potential 1 -

. < 1 4

~

L

] opportunitv that deregulation and restruc-y <

v f

3 .. , -

b... ,

3) .

?q gi .

3 , .

y  ; (W l

y mw

- . . . ,..,...m -

~,

"a:4 N r u tfa M .

m1 g , 81 i ' ', rh m .. ,,g n s,

oa. y - W ;, n , at 1 p gny o g n ,to Hj f ud (r w Jcr g<k- s

'108 -

++

g gl 4 ,4f{;y g; is bbtSTP kt p r y ,,t, Q. . > r , ,

n q . nk: '> pm ,:. Ym w iY- D W1:

MS O' i w < M _ 'the a tuthNe cua *oth , - . i tdh s w ( .- o f>.

rit s ' I'i d' ' "!f' '

[.

, -("IU E , q:%Q'TWWVMM f > ,hb fg '

'r g.g / l1,l

}?u r 'd :c.: % "

non s .a ,9 r*

.- ,r..< iin y,w me ed, Ortataally ballt in 1883u. a

(.' , iBagsr

,. -er to experisteeJ'!

the wonders of eleo.'

W #, , - -

i - ,nc ,

,e

, , trioityi Pietared "

U[.@.. aM u st.f the Meehantes Lane, L([ . is first trial '

W p! w ia ,i . generating Ste, tion.S. W t r -r

run of slootrie' ears - @ "

M .w < 2 [ M O . O i 7 ;

i i=ra.nt.n,seen.q m nm , m . a w. q g 3.,

w- b ,

t , v,3 ,m

p. , m , gy yS aH +4 t a

i s qg A = vyism,gama ~

gp, p ,

ILa, O gi Q ,

.. d / I $ ,

w ,

a~v ,,

l,.

2 <h..' , ,

n ,

,o;

_ ,,- .- a

[ ['hf 15

.r.se rir.1.ars art., th. city or Taunton purchased the utility from THE MARKET CHANGES - TMLP RESPONDS titteen private citisens in Iso 7, Deregulation and concurrent restructuring are rapidly changing the demand for electrie service necessi-tated the construction or the West electric utilities industry. The production and delivery of electrical power has now j Water Street Generating Station, cesspleted in 1902. With a capacity been "disaggregated" into production, transmission, and distribution entities.

et sco kilowatts, the station rener.

sted far more than the original llistorically, electricity in New England has been dispatched as one utility, based Mschanics Lane plant - but far less than what would soon be needed. upon a " lowest cost first" model. As ofJuly 1997, the actual dispatch is being con-trolled by an independent system operator, or " ISO " In this new model, power will be bought and sold through transactions similar to those that take place on the One key component of restructur-ing allows for power to be bought stock market. Each resource will be bid into the ISO clearing system based upon and sold through transactions simi.

lar to those that take place on the an hourly price. Clearly, this scenario creates a much more complex environment stock market.

in terms of power production.

TMLP has taken a conservative approach with respect to retail restruc-turing. Working closely with the legislature and other stakeholders, the utility has secured an exemption from its imiJ ementation. The reason: If restructuring fails, for any reason, there is no identified process to correct damages.

Given its standing as a municipally owned utility, TMLP's cus-tomers would be required to pay. Instead, the utility is using this wi : low of opportunity afforded by the exemption to work more closely with its customers, and to understand i

i from their perspective whrt works best for them.

f [' d RESTRUCTURING AS OPPORTUNITY At the same time, the utility reahres the magnitude of the potential opportunity that deregulation and restruc-N

[

--. - . - ---,s-- .

m . ,- , -y GO La wars m m pve, 'aue 15 Jo m 1 Nn I A b4)(1 E", ,

v m n r3 .o m p y; a ; = g g ,, u n g n 0 n u m ur 13 . t!1m a t i ^ ,i N L U C P. - 11' L L d k jd :P H b4 i m A. i v a,2;;,,;;

f 'il % I;I S.i C, C il ?' J P u p bin ng pnw ry ge4 carg g hn %9 3r< i "C r "W U Pom N ; rt u m TW al" Om' 10 l 3 3, , bp4u O ne &m te i Id i

"]aj , u e

,~7 I* ' '

F * . "bl ' ?"  !

hThis Tammten River m N**.

m.ff MThs West Water (* tree ,; % ['[{ ',

t, fa j g

. s  !

g g eemarettagcteussmeersy oessplettom in 1903.

, w ,,,,, ,,,,,, ,,,,, , ;yny.7 j ,

g ( 9 ph t am s 3 cir ' o n 1,m t o e mw uru  !

8 t t:;!p ,,ha.', ' ,3%' g,.

', . ] q ( ' ,

ncia IL y y cruit

[y '

"vidte'm' street mattway >g

. n [j"[

g, - gan=1141mgaeos; Tar u T T y " , i % g,g c 1 W., ._ s ~ [ 1 ,q., p c sees this hayalag tena{ ,((' .

3s { y ;y m

nd j wt th ki u

c as a garage $ ,

'@ no m e; y , n ;, ;,.g n

,, g p ., , 3, - ?m, s . j!

w

" t w - (1 n cy < % e ,

w , j h , " "" 3

• to th turing represent. Never in its history has TA1LP had such direct control over a wider variety of resources. Locking in prices through a futures market attended by energy trading markets and clearing houses, the utility can structure power supply to guaran-tee flat rates to large industrial customers. A similar risk / hedge strategy may also be appropriate for ensuring a low-cost, stable rate to a block of residential customers.

Furthermore, as one of the increasing rare breed of public utilities that have production resources and significant fuel procurement capabilities, TA1LP can exchange its resources in the energy markets more thoroughly +o meet its customers' needs.

A POSSIBLE LOOK AHEAD The exemption granted municipal utilities by the Alassachusetts legis-lature allows TA1LP to participate in the new restructured wholesale market. As a collaborative effort w hme members include TAILP, municipal utilities in Reading and llraintree, and a Connecticut-based joint-action cooperative (CA1EEC), Energy New England is buying and selling power on the open market. In the aggregate.

Energy New England's efforts have saved its customers $500,000-600,000 per inonth to date.

THE WORLD ACCORDING TO SOADA imagine a business environment in which there are U,000 customers, an untold number of energy suppliers, and a seemingly infinite number of dispatch-able loads. Furthermore,information relating to each and every one of these vari-

&)f;V-% ables must be accessible by the hour, and sometimes by the minute.

g.  ; ,

The information demands placed upon TAILP by the open market require that the utility have an unprecedented amount of real-time information at

y2

.:J:

s 6

e cm .

2-r2

\

%N,r b'

l its collective fingertips. In 1997, TAILP completed a four-year program to bring on-line just such an information-gathering system.

SCADA (Supervisory Control and Data Acquisition) polls different information-gathering equipment that provides information on the system as well as customers. A1onitoring on a real-time basis, SCADA alerts operators of system trouble, allowing the rerouting of power as the need arises.

Using fiberoptic cable as a backbone communications medium, along with 900 Alliz Licensed and 900 Alliz Spread Spectrum Radio, TAILP is con-structing a fiberoptic " ring" around its service territory. The project is taking place in three phases. In 1997, the utility initiated Phase 1, which encompasses Weir Street, City llall, County Street, Taunton liigh School, the Department of After World War I, expansion Public Works, and the Silver City Galleria. Phase 2 connects A1orton llospital, became the order of the day te keep pace with a rrowint Taunton. the Taunton Library and Police Station and Coyle Cassidy. Finally, Phase 3 will Beginning in 1939, when Governor Calvin Coolidge signed a bill estab. complete the loop, finishing back on County Street. To date,18 miles of fiberoptic lishing the Taunton Municipal I.ighting riant Commission, the cable has been installed.

plant flourished - adding thousands af kilowatts and improving service.

1915 r i r

i 194 0'-i .

1939 maarhed the '

80th Anniversary -

p

" " " s 1*

W I"

'( " .

-of IBeison's incan.

-g l',

~

L' 1 M U f svux.r

.4essent lam,. '

j

, m ar: , g.a. rat.

ing and e.ntr.: '

andth.

• • ,t. **t l,M M*?9 U G H Ti N G i rmik -

m. , ., q

,c:c ,..atfr.- . brat.d with thi. 4 w at w terSt.

,-j

, m , i. ,r.s.i.. ai.,iar

.n vs.nt.n ere.a. - -

.; g 4

'z _

< :1 -

3' -

s' , .u 6

O ' '- i ' * * **

• T>

g 5, l '[' 3- 4  %

SERVICE IMPROVEMENTS F@R GROlllTING NEIGHBORHOODS In 1997, TA1LP worked on several lives to ensure reliable service for current and prospective customers alike. In converting these lines, the utility in essence rebuilds the existing utility line to conduct higher voltages and ensure easier, more dependable customer service. Conversion typically includes running new primary wires and changing out all transformers.

Projects completed in 1997 included the conversion of seven miles ofline in Ilerkley, resulting in a new main feed that affects Berkley, =

South Alain and Jerome Streets. As a consequence, this growing area can expect more reliable service, and count on additional capacity to accommodate future growth. In Raynham, conversions were completed in the King Philip Street and Pleasantfield areas. In addition, TAILP personnel completed the Caswell Street The completion of the SCADA network (Supervisory Control and conversion in East Taunton. Data Acquisition) enables TMLP to respond to the information For larger commercial customers, TAILP began epgrading Station 18 demands placed upon the utility by (the Whittenton Junction sub-station). In 1997, engineering work was completed. * # ""

• This year, new transformers and feeder lines will be added to better serve the Industrial Park. With these changes in place, the utility expects to satisfy the capac-ity and service reliability needs of the Park, which is expected to double in size within the next few years.

4 -;.

um t + t . . , ., ,t-q .i . ,r.

D O M O M R O C,N p i!~ M I

wm n u ., p. a ,

n 1tus rf : m.wi it

. fi{ ~

.v

. L.

' TMLP installed "new"

. , . . :i: ) .

DCreasesBernbershio n, ,,. .

list A- ~?" Old"i2 M e em Leaq , ,.

Taenipfw TM,n!cv 1 tok r Y ~~ <  ;

, gm, nnen vetsu tar k.a.u 4.ofteasy;th.ee e '.u fr, ,fi ff .r m 4y at ..n, weg, sty un a s.J.,

naeandn, r.covatiessu ad.e.t.ek a ,%

' wat m%m1.e in se+e.. H .. P a88 throughent l aM H.' B Eii.ve F .. l' rey ton . nvo' the late *es n'ad7 r then a um meu. a rens ,cr . co es,iy ses at west 2 e of w,.s o# ,_

n

-, . we e wate, stre.t.: c

• JJ Nr w (. m tsd Jf'qh .yt "i ce

• h")

(? tut (< agnu ; a ' '-

, u n, P ur verej

,e MM @hs ;g e naqe q)u ' Up uud - '

E an inve  % m i . 4mm .;... - 6 w

e y[uns pm y,. . g. f--ruyz.Tp1yW_m r whu w.m a m h . w wrm n, m,.

_ .n _ _ w, _j h [

55 Tanntem s appetite for .ieetrical TMLP AND THE INTERNET power required significant caymeity enhancements at the West Water The amount ofinformation that a utility is required to gather has Esreet facility threaghent the 1960s. Alse during this time, hurri. increased exponentially. The ability to access information and shape data -in real-eamos formed a harrowing backdrop for TEELP and its enstomers. On time -is very much the price of entry into the contemporary energy marketplace.

mne, ecossions, dedicated crews were called upon to repair lines and \Vith all NEPOOL activity now conducted in real-time on the Internet - from restore power.

financial and load reports to embsions allowance trading -it was incumbent upon TAILP to maximize its presence.

TMI.P has made a strong e mmit- With the infrastructure firmly in place t, serve the long-term needs ment towards its e mmercial Inter-not necess program. Seririce which of the utility, TAILP inaugurated its commercial Internet access program on heran en December 15, ses7, has been met with great enthusiasm. December 15,1997. Since that date,it has more than doubled the number of modems in use among its customer base. In addition, it has furnished the utility's large commercial and industrial customers with a level of fiberoptic access never

, before possible.

TAILP's potential market for commercial Internet use extends to 100,000 households both within and outside the utility's natural service territory. As of this Report, the market for e'

TAILP Internet access encompasses Lakeville, Rochester, Freetown, Norton, Easton, Assonet, and Aliddleboro -

in short, any locality that does not require a toll call to achieve dial-in access.

TAILP has also positioned Internet access as an economic development tool.

Now and into the foreseeable future, for-ward-thinking, ' net-savvy corporations will seek to locate in areas with the kind

werv 30<" U? LO PLA & M> >h s h aPNM "# '

& '!1 ar og b ir b+ 2

' "N F # Ii '-

. o .

d "[- bd m '

$' "[ di 1

< m n In m ' * " N > lt " M' ' ';; ' p; M m t i r.b. 4 +no' M hi '-

Mwe the 5Nute dread' ms meatur.; "lmt AnWed h de i i 51 - ^b IWd i umii.ir menure w "*

fferoes M5 f1 iWwny ifcl MM,.,..'M* .Orews' worked leag' hears

n. 100*s M( u as a tm or.

W EH

• Comg 16 j h 7' +' s o a ggg,, g,,,g,,,g, g ,,g : . . um! '

f, ,,

,-g.. _i w h * ,Threngtest'the'1950s M A my Um

g, y

, . 7. . ; , - ,,4 gg ,,,g,,,g ,gggg,' M i M u.

i-e g. - ear lebb)'em Wetr' Street

,, gg,, a'showredm for*h

/~ ' '

F 11 days of each ether'la i ! , *amederm" electrieal mdo c l t 1[k

,['

f r Amt io ust ofaou 1964,.'h. o+6 ,

• appliamees.

J3 8!

Na m ' i < urity (

7N gg.

• rrS j t, gy , m nw. : E jm%'n  ! ls R Ih ru . . c gig , o

, g gg g

' n 3rm [ @ ,{ y (j Q g,sy gg ilil5 1 f, l}n' lht i t h d !tf bl ." [

f.

((gy, , f qgjg g g,. 3 7.g ; . 9 g

. J

-(:c!c ; ;.r:" E r d A ,g,,

,in; d jg .g g  ; g ;3 g.gg g g

R ;3 t 1!v , < em , in u g.

g , y g. , ,y g g g ofInternet capacity and accessibility that TA1LP offers through its Internet ser ice, particularly as it is conveyed through Atyles Standish Industrial F rk. It is our intention to actively promote this messag: to companies from outside our area with

" industrial-strength" Internet capability /needs.

I? rom TAILP's beginnings 100 years ago, the utility has taken as its charge the industrial development of the Taunton area. Its Internet effort is in many ways a further manifestation of this philosophy. For companies considering moving to Taunton, the strong technological backbone of our Internet service rep-resents a " tie-breaker" in our favor. For companies considering leaving, it is our hope that this same cutting-edge communications capability-in tandem with the lowest rates in Alassachusetts - will give them pause.

A MORE FOCUSED BRAND OF SERVICE In late 1997, TAILP inaugurated its Key Accounts program. Thanks to this initiative, industrial and large commercial energy users have access to a cross-disciplinary T31LP service team. Professionals from engineering, metering, billing and energy services uork as one to respond rapidly to a customer's needs.

For example, on a typical customer visit, a TAILP account executive may show a large retailer how to improve its efficiency by reducing its demand.

ACCOMMODATING OUSTOMERS:

FR@M THE INSIDE OUT A utility is only as good as its ability to respond in an accurate and timely fashion. In 1997, TA1LP completed a 4-year administrative-applications upgrade with the help ofIIarris Computer, a leader in specialized applications

h software for the North American utility industry. Last year, the billing system went on-line.The integration of the business and accounting packages flows information into various internal reports and eliminates ineffi-ciencies such as keying-in information.

In 1998, the near-term goalis to get all systems to " talk to each other." The proposed work-order sys-tem will link all other independent systems together. The benefits of the resulting integrated database, both immediate and long-term, will be felt as dramatic improvements in efficiency and productivity.

A long-overdue remodeling of the main business office was alm ccm-pleted in 1997, a symbol of the utility's commitment to its Weir Street home for the foreseeable future, as well as to improved customer service.

With applications software tallered for th. Werth American TMLP IN THE COMMUNITY atility industry, TMLP esmpleted a semprehensive systems upgrade In addition to raising funds for the annual holiday display on Taunton in 1997 which interrated business and secounting functions. Green, TAILP and its employees were busy on many other charitable fronts as well.

They worked with students from Walker School to create a float in the Christmas Parade. They orchestrated the llome Lighting Contest, sponsored by TAILP.

After ever 75 years of service, time y w e e al instrumental in creating the Internet Challenge. 'Ib had come to repinee the West Water celebrate the utility's anniversary, students would answer questions about TAILP l

Street Generating Station. In 1962, l

construction en the new 28,300 kw history at the utility's web site. From the students who answered correctly, the win-Clsary Flood Generating Station baran. An additional 110,000 kw ners were chosen at random - one each from a Taunton-area elementary school, were added with additional unite completed in 1975 and 1976. middle school and high school. Each winner received a complete computer system I'

1 .

=~ , w n, ,

'f (');} ' '

""9]

^

'1

[n[ . . ' . . _-. .

s l o'

.g

(

h: > ,m i: ; O1Hi rhm,s ..5; - C ! 1 Orews fress sur-Left Unit 7 enters 'its new s roundiar utilities '

4 .-

[' 4 , y q: ,; home in 1957 At right,, L ., i gather at TMLF .

' . after nearly 40 years of a  ! after Narricane ', ,

r.' .Denna,1960.

,  : spgrades and improve, e +

s ' ments, West Water Street ' .. ,

i* '-i C Gomerstlag Station,1953. ,

+

ya i IM 'J! *'.1',

f 'h

,, r W,* V L > n y s r *

,. .[- -'

e V

' . . . . . . . _ ____1____

ll 1

at the Cleary Station Open Ifouse.

Lighting area bai! fields continued to be a priority in TAILP com-n unity efforts. In 1997, utility employees increased the amount ofilluminat"n produced by each light at the Eastern Taunton Little League from 30 to 50 foot-candles. (While it may not sound like much, it represents a signi6 cant improve-ment when a pop Oy descends on a 10-year-old at twilight.)

Also, as part ofits 100th anniversary celebration, the utility gave the equivalent of 100 kilowatt-hours free to all customers. Residential customers redeeming the offer saved approximately $8, commercial customers $10.

TMLP-TOWARD THE FUTURE in 1997, TAILP's year-long 100th birthday celebration was always at or near the top of the city's social calendar. It was a time that TMLP management and employees shared with the community, and a time we will always treasure.

Yet u hile it's fun to look back, there's never been a more exciting time l to look ahead. In 1998 and beyond, expect representatives of your utility to wr>rk shoulder to shoulder with community leaders to create an even better Taunton, and an even better TMLP.

.-.~y. . ~

,77

- ;- , ); "

lo.;g qy s hee fm la

= -9 ' ; l.

yq gg  ;>g

,,,y .;j 7 A t,xG " '

., g ,ygg et &

Ni + J, n A.

3 . ,

. i hn i ? M' ~li'

• • n l (6. t%

s w"'.

< ,T a t i 'W 3

i

• O l

,t*'a twf.o nt 0< ' M) 13 g.1 ; ,

i (k a

• , g

• *d,,%

,s

.*, a ,

,, t,.. . n g 3 ny s i

,i i U [. ' 0 ; < 5 ,1r^e

4 3 1.. '

s

. Left Reginning esmatras. v' '

t 3.,1 4 ,.,1 l

ties en the Cleary Fleed i Cleary. Flee'd Gomerstlag Pr

'R *

1. e ,:

abu k; - Mgr, pu;g@N

, Generating staties 1982.

Station as it myyears te&ay, y

y Un !n 9 ' o d5 >

[ At rights construction fbr ., ,

i;, q

• iv l! M W l, a lad I' ' I l trait 9 at Cleary7Fleed 1973.

' 3' ' '[ ;'..

W U! OOt* N NI DI On?. od. if d C  % ' ' ' '* * * " " "

m tur u ndi?W WrwprdRe .-;W '

dW* *

[e$nt lomi r; of E F Ser . g te .2'"i. m W UL * ' '

E "' #* ' ""

A

. .i"

" I=

[

1997 EMPLOYEE LISTING Alichael Abbott Joseph Frates Adeline Osso Antone Almeida,Jr. Ernest Fiesti Diane Paiva James Araujo Douglas Furtado Richard Parker Lawrence Arieta Paula Gallagher David Pereira Jeffrey Bagge David Gallego Francis Pereira Kelly Ilagge Thomas Goggin Alanuel Pereira litett llaker Antonio Gonsalves Joseph Perry firian llelanger Edward Goulart Anthony Pinrzyk John Bisio Kenneth Goulart Louis Pinte Atark llissonnette Roland Grandmont Thomas Powers Alark Blackwell,Jr. Nicole Grant John Punda Atark Illackwell, Sr. John llaggerty Jennifer Ready Joseph A1. Illain Alichael llagopian Doris Renard Leo llousquet Alanuel llathaway Steven Rogers

'Ibmmie llruce Timothy llebc.rt Charlotte Romano Victor lluote Alichael llorrigan Alanuel Rose Arthur Cabral James Irving Richard Rose Steven Cantwell Wallace Jones Stephen Rose Bing Chan Kevin Kiernan Ronald Roy I'~ uvew dT J ins. Fred Chandler Paulette Kiagsbury Doreen Rua Patricia Chandler Stanley KossJr. Albert Santos

!.n ., M.neger fielbel .nddhe e einc.in .a. McNeipal Ughthig Pl.nf %mmhik%

ro.i.it.,4,. *ui Roberta Chesterfield Robert Krantz Greg Santos

'I pp.t.d in .ade sicheol 1alkhng and o. put.s a,ound th. dty rimihr

.ac.

n.i.oa*.

m wre a u .enm pecacm.

a . .,.ma.wa .N we.- Cynthia Clark Roderick LaFrance Alark Seekell ta gr . .<-.u.

t t ooe k: Carol Collagan Alichael Larkm. Jr. John F. Semas o.r ws. een n . l c.n = momew unums rum. m e m. Alargaret Cooke Raymond Leannes John AL Semas C.li Pohe., Nwntwr e L ri a

.uws o ...mur. m pa, .+ David Cordeiro Daniel Lema Robert Silva a.,c.we..y.

e-m .eenm .. wi .,,a a, Bruce C,orreia mm.m.ny, tw. i a... u .. x.esma.ru .Theresa Lesesque k.atrina Silveira

/ m.y OCCUF lHa .ili l J 10 dang.r. 11 in w.s .jh. To tabs a co .n . m .n .it -y us. n .c., m v i .n in Albert C,osta Lm. da Linhares C,ynth.ia Silvia

' Md 1.g of a ilre mul.,

n. n<m .m . + . 4 ii.,,. Alichael C,ote Robert Linhares D'ebra Silvia Steven Cote Alaureen Lounsbury Gregory Simmons 1083 Alargaret Coulombe Kelly Lozinski Rita Smith Thomas DeBrum Ronald Lund Robert Smith Russell Demar William Lyons Kathleen Smyth Lawrence DeThomas Daniel Alahoney Scott Souza Wayne Dixon Frank Alastera Richard Sproul John Dolan George Alastin, Sr. Nancy Stankiewicz Lorraine Donahue Charles AlcCaffrey Kevin Steadman Stephen Donovan Francis AlcDermott William Stroiny Kevin Dooley James AlcDermott Ralph Strollo,Jr.

Paul Downing John AlcDonough Dana Sullivan Paul Dumont Diane AlcGrath Denise Tavares John Dubena Joseph AlcKenna Frederick 'Ibmpson Armand Emond Deborah AlcAlurray J udy 'Ibrres Alichael Emond John AlcRae John Valcovic Joan Faria Robert Atedeiros Joseph Vasconcellos Charles Farrell Ronald Aledeiros Richard Velez Joseph Fernandes David Alelanson Anna Alay Vieira Ataria Fernandez Ernest A1ello Shir!cy Vincent Glenn Ferreira Paulette Atenard James Warren Ronald Ferreira Paul Alercier R. Scott Whittemore David Fink Joan A1ulcahy Thomas Zagorski Craig Foley William Nickerson Craig Fonseca Joseph Noberini 13 L

Report of Independent Certified PuMic Accountants Alunicipal Light Commission of the City of Taunton Taunton, Atassachusetts We have audited the accompanying balance sheets of the Taunton Alunicip d Lighting Plant (a department of the City of Taunton) as of December 31,1997 and 1996, and the related statements of carnings, retained earnings and cash flows for the years then l ended. These financial statements are the responsibility of the Plant's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reason- [f)[mg fo (f[oo,Sg, , , , , , ,

ly Oh able assurance about whether the financial statements are free of material misstatement. )

l An audit includes examining, on a test basis, evidence supporting the amounts and dis-l - ,

closures in the financial statements. An audit also includes assessing the accounting l principles used and significant estimates made by management, as well as evaluating

\

the overall financial statement presentation We believe our audits provide a reasonable basis for our opimon. , ,,,  ;

• _ preW.m Y.w Pinetts Rdnyer.ase selves As discussed in note Il to the financial statements, certain disclosures *d '*d '

1. %n. *ta6,- a r - a,, ,,73 Zd r

required by the Governmental Accounting Standards Board relating to pensions have

, *"a",,,'l,T,'.,",."

• • n.

n w .

".dw.* -*. ** U'Z

,,w 6.

! home se the henkh d every see ar W the fa.4. .

been omitted. .

In our opinion, except for the omission of certain pension plan disclosures lJ , Pl.WT required by the Governmental Accounting Standards Board, the financial statements sons referred to above present fairly, in all material respects, the financial position of the Taunton Alunicipal Lighting Plant as of December 31,1997 and 1996, and the results of its operations and its cash flows for the years then ended in conformity with generally accepted accounting principles.

l 4

Boston, Alassachusetts i Alarch 27,1998 (exceptfor Note G as to which the date is April 6, I 998) i i

13 4 4

l Balmace Sheets Assets December 31, 1997 1996 Utility Plant - at Cost Plant in sert;ce $110,533,880 $107,404,3 33 Less accumulated depreciation 68,359.877 64,072,084 Net utility plant in service 42,174,003 43,332,249 j Investment in Seabrook 2,828,547 2,976,550 Construction work in progress 2,263,790 1,196,931

'Iotal utility plant 47,266,340 47,505,730 Depreciation Fund (induding certificates ofdeposit of

$5,500,000 and $7,670,000 in !997 and 1996, respectively) 12,213.60I l1,267,002 Sick Leave Trust Fund 4,132,129 3,294,804 Other Assets Investment in llydro Quebec Project 299,665 299,665 Deferred fuel costs 122,109 338,176 hI,'" LIGHT. t;gs,,,ves 37,so4 i i2,767 Other 55,515 13,119

!?*

i l Current Assets

! Cash 959,771 957,498 Customer deposits 465,892 443,421 Accounts receivable, less allowance for doubtful accounts of $878,435 and $832,477 respectively 4,003,115 4,702,175 l Due from TAILP Retirement Trust 550,708 561,624 Alaterials and supplies inventory 1,616,240 1,222,347 l

Prenaid expenses 178,?97 204,447 l 'li>tal current assets 7,774,123 8,091,512 E eyes are his. future!

-T" ';,"l", ",J: ~:: ":l

. :=%::2: $ 71,921,286 5 70,922,775 l 1:.;:*1 ::* W ll:: .r"l: .d ::

r,_,.* -ll:::.2::',".il: -

'l',::,= L-t::'.. ::

! .. - f.7 :".7;::*.Z:

. ::llL'.::? '.*:lll.'ll:

".l. ::

=a==**** " - * " ' ' * * " "

Retained Earnings and Liabilities December 31, 1997 1996

+

o. m 6,.io w v.

"** Retained Earnings

,,. Itr - Appropriated retained earnings Loans repayment 5 19,572,000 $ $18,587,000 Construction repayment 32,434 32,434

- -- 19,604,434 18,619,434 Unappropnated retained earnings 31,328,354 29,936,201 tras (2,905)

Unrealized (loss) gain on securities held for sale 145,765

'Iotal retained earnings 51,078,553 48,552,730 L<mg-Terrn Debt 12,506,801 13,575,155 l

! Current Liabilities l Accounts payable 1,184,819 2,453,866 Customer deposits 364,273 433,423 l

Current maturities of long-term debt 1,065,000 985,000 l

Accrued liabilities Sick leave 4,025,603 3,683,358 Vacation 711,966 639,400 Interest 465,374 498,207 Power 345,752 -

Payroll 102,970 67,657 Other 70,175 33,979 Tbtal current liabilities 8,335,932 N,794,w o Commitments and Contingencies - -

S 71,921,286 5 70,922,775 4

13 The accompanying notes are an integral part of these statements.

8 tnt:ments of Earnings Years ended December 31, 1997 1996 l Operating revenues i

Sales of electricity Commercial and industrial $24,534,992 $24,473,615 Residential 16,167,796 16,827,358 s Sales for resale 4,057,870 2,843,056 i Alunicipal 1.930.677 2.027.354

] 46,691,335 46,171,383 Other operating revenues 271.906 317.700

, lotal operating revenues 46,963,241 46,489,083 J

Operating expenses Power production 26,597,045 26,131,479 '

{~

Transmission and distril ution 3,697,693 3,104,883 5 i Customer accounting 1,356,142 1,451,514 ij

, Administrative and general 5,083,573 4,613,306 l Depreciation and amortization 4,598,011 4,383,296

~

1 Nuclear expense 262,791 195,969 s C]

Write-off of coal plant project -

1.307.149 -

Total operating expenses 41,595,255 #'

41.187.592 -

I arnings from operations 5,367.986 5,301,491 *

1 q

d.  :

Other expense (income) ) tr ;j interest expense 1,110,745 1,188,482 -

1 Interest income (360,668) (176,420)

)

Other income (119.244) (i52.792)

%tal other expense 630,H 3 3 859.270 Earnings before provision for t

[M l( *e payment in lieu of taxes 4,737,153 4,442,221 a IS IT FAIR?q 4; i I' n , , M h. ;r s w..

Provision for payment in lieu of taxes 2.360,000 2.360.000 gj"gd,*=r,Q"g

.t s.w..,ean .wrm e:

Net Earnings S 2.177.153 5 2,082.221 *d h"* * * ' ' *

'ws'"as-

r. - .

'mo s ArretBd.duwtu.ftp 6,..,

.so w e "r e nu.,.a .w. u

w. e w bd.e., s m ,,--u.a w,.i4%

Str.tsments of 3etained Earnings

• d ..w o.

• l i

.as , . n, n. i.$. < i e.4r hn.s..b.'. hd.d h...bsppy housh l Appropriated Retained Earnings Unappropriated .6 i.ne. am.hwr. n r at l Loan Construction Retained Years ended December 31,1997 and 1996 Repayment Repayment Earnings TauntonMunicipalLightinght llalance at December 31,1995 $ 17,677,000 S32,434 $28,763,980 Transfer for bond repayment 910,000 -

(910,000)

Net earnings - -

2.082.221 llalance at December 31,1996 18,587,000 32,434 29,936,201 Transfer for bond repayment 985,000 -

(985,000)

Net earmngs - -

2,377,153 Balance at December 31,1997 $19.572,000 $32,434 $31,328,3 54 l

l l

The accampanying notes are an integral part of these statementt is

l Statements of Cash Flows Years ended December 31, 1997 1996 Increase (Decrease)in Cash and Cash Equivalents Cash flows from operating activities:

Net earnings $2,377,153 $ 2,082,221 Adjustments to reconcile net earnings to net cash and cash equivalents provided by operating activities:

Depreciation and amortization 4,598,011 4.383,296 Amortization of bond premium (3,354) (3,354)

Write off of local plant - 1,307,145 Equity in income (losses) of Seabrook investment 105 (68,717)

Change in assets and liabilities:

(Increase) in customer deposit funds (22,471) (55,246)

Decrease in accounts receivable 699,060 (823,287)

Decrease in due from retirement trust 10,916 (37,773)

~~

7 .

(Increase) in inventory (393,893) ' ~ 9,2 5 4

• P Decrease in prepaid expenses 26,050 33,476 Decrease in lightwaves 54,963 77,257

"# (42,396) 157,029 7 (Increase) in other assets b ~.., (Decrease)in accounts payable (1,269,047) (52,880)

~E (Decrease)in deferred fuel or customer credits 216,067 (3,437,415)

(Decrease) in customer deposits (69,150) 13,450 Increase in accrued liabilities 799,239 218,370 s Net cash provided by operating activities 6.981,253 4,154,826 y

'- Cash flows from investing activities:

Net additions to utility plant (4,358,726) (4,516,357)

Ladies You Are Cordially Invited Proceeds from maturing long-term certificates of

o. wr som =4 lar so a r n .d b. i , deposits - depreciation fund 3,500,000 3,320,000 jaamgdyss==*= d ** caa-d ==** n== Investment in long-term certificates of deposit -

u,*w .ho m m esm. w e.t.= der ree m o a depreciation fund (4,000,000) (3,500,000) increase in Sick Leave Trust Fund (688,655) (192,939)

$Yo'aTm 6$$"r*S*iE"EANE I (5,547,381) (4.HH9,296) t==. w.=$pa uvw me A*=== , Net cash used in investing activities

! ' hhw ye have pw.h4 d. m me cone.ephteg the pw.

4 +=.w.,=.h.,i-. r m, 4 m .hu ,

i' U45"$Ua"."2.IDO*om-; . u,*g Cash flows from financing activities:

em.a ra4.ngo.4 r =rk * = = Payment of long-term debt (985,000) (910,000) l Net increase (decrease)in cash and cash equivalents 448,872 (I,644,470)

, CE NERAL $..EEECTRIC

.um... .....

BOSTOCK IURNITURI CO.

Cash and cash equivalents at end of year $9,173,372 5 8.724,500 DE51L W E SERWCE n n, 4 , E Tu- C CO. *, m. lms.ONDER m- i secc on the balance sheets as follows:

Depreciation fund (en/usive oflang-tcrw 1 certificates ofdeposit) $8,213,601 5 7,767,002 Cash 959,771 957,498

$9,173,372 $ 8.724.500 Supplemental Disclosure of Cash Flow Information: l Cash paid during the year for interest $ 1,143,578 $ 1,221,411 l l

l l

I i

1 f

i to The accompanpng notes are an integral part of the!e statements.

I

i Ntt:3 to Financial Statements Note A - Summary of Significant Accounting Policies A summary of Taunton Alunicipal Lighting Plant's (th"" Plant") significant accounting policies consis- E tently apphed in the preparation of the accompanying financial statements follou s.

1. Nature of Business The Plant is a regulated municipal electric utihty located in Taunton, A1assachusetts. The Plant operates as an enterprise fund of the City of Taunton, Alassachusetts, and pro-duces, purchases and distributes electricity to approximately 32,000 customers in the City of Taunton and i the surrounding areas.

I

2. Use of Estimates The preparatien of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported

amounts of assets and liabihties and disclosure of contingent assets and liabilities at the date of the financial l statements and the regmrted amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Estimates relating to the allowance for doubtful accounts and co itingencies (see note G) represent the significant estimates included in the financial statements. Atanagement bases their estimates of these items on historical experience, specific identification and future expectations.

, 3. Rates The Plant is under the charge and control of the Alunicipal 1.ight Plant Commissioners in accor-dance with Chapter 164, Section 55 of the General Laws of the Commonwealth of Alassachusetts. Flectric power is both produced and purchased and is distnbuted to customers within their service area. The rates charged by the Plant to its customers are filed with the Department of Telecommunications and Energy

("DTE*)(formerly the Alassachusetts Department of Pubiic Utilities) and is subject to Chapter 164, Section 58 of the General Laws, which provides that prices shal be fixed to yield not more than 8% per annum on I;,,, ATTENTION SEAR $ CUSTOME the cost of the plant after repayment of operating expenses, interest on outstanding debt and dcpreciation. mass m d ? '

s The Plant's resulting net earnings amounted to approximately 3.7% and 3.4% of utihty plant in 1997 and 1996, rr spectively. '

"{--

.g Fresem Feed Demeestration

4. Depreciat on Pursuant to the DTE, regulations, depreciation is calculated as a percentage of deprecia- 'Y. j ble property at January 1. Iqepreciation is compute $1 at 4% of the cost of depreciable property. ,

Deprecutmn Fund cash is used m accordance with state laws for replacements and additions to the utihty plant in service. * * * * " "

umm = mens uonma n.urr . '

5. Pension Plan Substantially all employees of the Plant are covered by a contributory pension plan '

administered by the City of Taunton in conformity with State Retirement Board requirements (see note II). 3 MhSW/M 3

6. Inventory Alaterials and supplies inventory is carried at cost, principally on the average cost method. - " " " * ' '

7. Sick Leave Trust Fund The Plant established a Sick Leave Trust Fund (" Trust")in 1982 for the financing of future sick leave payments. It is the Plant's intention that the Trust be funded to the extent of

.. E Y 2. EY "7 "'

- lll"L"l',=.% ="";;1ll;;"

the Plant's sick leave liability and that future sick leave expense wdl be paid by the Trust once full funding is  ; *llP"- - j achieved. The assets of the Trust are shown in the financial statements to provide a more meaningful pre-sentation, as the assets of the Trust are for the sole benefit of the Plant.

The Plant adopted Statement of Financial AccountinFS tandards ("SFAS") No.115," Accounting for

~"'*"],,,_

• l Certain Investments in Debt and Equity Securities", Under SFAS No.115, debt securities that the Plant has SEARS, ROESUCK AND CO. ,

i the positive intent and abihty to hold to maturity are classified as held to maturity and reported as amortized ~.-

cost; debt and equity securities that are bought and held principally for the purpose of selling in the near term are classified as trading and reported at fair s alue, with unrealized gains and ausses included in earn- 18H ings; and debt and equity securities not dassified as either held to maturity or trading are classified as avail-able for sale and reported at fair value, with unrealized gains and losses excluded from earnings and reported as a separate component of retamed earnings. Gains and losset un the sale of securities are recognized at the time of sale on a specific identification basis.

In addition to money market funds and accrued income, the estimated market values of securities included in the Sick Leave Trust Fund at December 31, were as follows:

fsumated Unreahnd Unreahnd Erket Cmt Gains 1.mm Value fin ThousasJs)

Securities available for sale at December 31,1997 l

US Treasury ohhgation (maturmg Augurt 19P9 thrugh Augurt 2/#ht; $ 665 14 $1 5 668 I

US Government agency obligauuns (maturtng September I998 thnagh Trbruary 2tHH> 235 5 - 240 Other corporate obhgations tmaturiq Wember !99R tbnugh March 2tMm 1.821 10 6 1,k45 Common stock and other $ccunnes 989 140 26 1.101

'lotal secunties availal te for sale 14.710 $179 $11 $ 4.M6 Securities available for sale at December 31,1996

, US 1reasury ohhganons (maturang May 1997 through August 202i) $1,613 $19 $19 $1,61 )

US Government agency obbganons (msturang August i997 tbnugh September I998) iKK 1 4 iK5 1

Other corporate obhgunons (maturing Mar iPV6 through March 2fMXI) I.246 4 4 1,246

$UH7 $UH4 Total secunties available for sale J4 527 Mars ontsnued on next page. 17 l 1

J

1 1

l l

Notes to Financial Statements Net investment income for the Trust of approximately $148,000 and $203,000 in 1997 and 1996, respec-tively, is reflected in the statements of earnings as an offset to compensated absence expense, as these funds are restricted and can only be used for the payment of sick leave benefits, The net expense for sick leave was approximately $246,000 and $257,000 for the years ended December 31,1997 and 1996, respectisely.

8. Deferred Fuel Costs The Plant's rates include a Purchased Power Cost Adjustment (PPCA) which allows an adjustment of rates charged to customers in order to recover all changes in power costs from stipu-lated base costs. The PPCA prmides for a quarterly reconciliation of total power costs billed with the actual cost of power incurred. Any excess or deficiency in amounts collected as compared to costs incurred is deferred and either credited or billed to customers over subsequent periods.

9, Investment in Seabrook The Plant's Investment in Scabrook represents a 0.10034% joint ownership share. The Plant records annually depreciation computed at 4% of the initial investment in Seabrook, The Plant s percentage share of new plant adthtions are capitalized and their share of operating and maintenance expenses, and decommissioning expenses (see note C) are charred against earnings.

10. Cash Equivalents For purposes of the Statement of Cash Flows, the Plant considers certificates of deposit with maturities of three months or less to be cash equivalents. At December 31,1997 and 1996, Depreciation Fund - Unit 9 principal and interest includes certificates of deposit in the amount of

$4,000,000 and $3,500,000, respectively, u ere considered long-term.

I1. Reclassifications Certain amounts in the 1996 finncial statements have been reclassified to conform

. , to the current year presentation.

'q Flameless Electric Cooking i' Note B - Cash and Certificates of Deposit is Better-and SAFERL

• The Plant's cash is deposited with the City of Taunton Treasurer w ho commingles it with other City funds. The City invests the cash and credits the Plant each year with interest earned on the cash deposits.

gg g gg{ Cash and certi6 cates of deposit deposited with the City of Taunton consists of the following at December 31, 1997 1996 1er e=* ==. ===* -

. m.ar m.m. a.ne

== y cstaaJbee I ng Q i 1 l

Interest beanng pmled funds includmg restricted customer deposits of $364.273 and $443,421, respectively 5 8,139,264 5 4.997,921

. sw= == h== mr == ?  % .j Ceruficates of deposit with rates of 5.53% - S.6% maturing

• * " %G at various dates during 1998 5,500.000 7.6'0,000 513,639.264 512.66L921 n**u,-gag e=6a%

"Y".",""*"""""""""" Cash and certificates of desmit at December 31, is reflected as follows: 1997 1996 5 5,453,441 5 4,579,399 t

7.m."G.,

.c ,"1T T O W.C

- Of;f;lllll"jlt,O",,*,,,* **"N Depreciation Fund - capaal addmons and replacements Deprecianon Fund - Maior overhaul 2,027,318 2,027,118

" " " * " " " "'" # Depreciation Fund - Un t 9 pnncipal and interest 4,004,158 3,931,601 Deprecianon Fund - other 728,684 72N,6k4

}

c ine har beds /t inade el hugus" bght b $Nhp lhu Suhus 4 met deposit prmeipal and interest fimd Note C -Investment in Seabrook j L -- _ _. _ .

• The Plant is a 0.10034% joint owner of the Scabrook New llampshire Umt 1.

I sess The joint owners of Seabrook hase established a Decommissioning Fund that is currently held by a l Trustee. The Plant's share of the estimated decommissioning liabibty is approximately $415,000 as ofJanuary 1,1995 (the most current valuation date). The Plant is currently contributing, based on a present value for-mula, $572 per month (increasing to $933 per month in 1997) over 36 years.

Note D - Lightwaves l

l The Plant has initiated an energy saving program for commercial and industrial customers known as

! Lightwaves. The program entides the customer to a free energy audit and installation of energy efficient equipment. Customers are required to pay a monthly fee for a 60 month period. The fee is based upon the administrative costs related to the program. The related admin;strative costs are expensed as incurred.

Note E - 12mg-Term Debt long term debt is compnsed of the following lumds: 1997 1996 Electnc Loan Act of 1969 Interest rate 8%,intercst payable February I and August 1, due serially to Ichruary 1,2006 $13,549,000 $14.5 30,000 Unamortued premium 26.kol 30,195 13,0 1,801 14,560,15i f.eu current maturities 1,065,000 9H 5,000 Total long term debt 512.406.801 Si t.175. li t l

l l

l E3 Mtes canonard on nat pge.

l

. . _ . . . . . -. - -. - _. . - - ~

Nat:s to Financial Statements l

l Aggrepte matuntics of h,ng tenn debt at Decernber31,1997, are as followo l 1998 $ 1,065,000 l 19W 1,150,000 I 2000 1,2 50.0(X) l 2001 1,3 50.lX10 l 2002 1,465,000 i Thereafter 7.265,000 51 U4iS00 Note F - Contribution in Lieu of Taxes l The Plant contributed $2,360,000 in 1997 and 1996 to the City of Taunton in lieu of taxes. All contribu.

l tions to the City are voted by the Municipal Light Commission.

Note G - Commitments and Contingencies l Interconnection Agreement The City of Taunton, actmg by vote ofits Alunicipal Lighting Plant Commission, entered into an agreement with Alontaup Electric Company ("Alontaup"), dated July 31.

1970, as amended, concerning interconnection of electrical operations, purchase and sale of Lilou att capac-ity, and construction by Taunton cf a generating unit of approximately 110 megawatt capability. Under the current interconnection agreement, the City agrees to exchange with Alontaup Electne Company fifteen (15) megawatts of Unit No. 9 capacity for ten (10) megaw atts of capacity from the Canal No. 2 generating unit,50% of which is owned by Alontaup.The Plant credited to sales for resale $549,621 and $283.308 of energy charges billed to Alontaup Electric Company in 1997 and 1996, respectively for its share of power under the interconnection agreement.

amp a slaw to IlydroQuebec Agreement In 1988, the Plant entered into an agreement with the Alassachusetts I '-

'YOUR gyggHDt!1N.G g1 I Alunicipal Wholesale Electric Company and other New England Utibtics to support the operation of a . . _ _ ,~g transmission bne to permit the interchange of electricity between such utilities and Ilydro. Quebec Electnc  ::::::y:r;;r- sg Corporation (Ilydro-Quebec). In connection with the agreement, the Plant advanced approximately

$800,000 toward development of the project of which approximately $450,000 was returned after the pro- ELECTRK HEAT, ject had obtained financing. In 1991, the liydro Quebec project was completed. Upon completion of this  :::: ::N:r. .:: "

j project, each participant received stock in the New England Ilydro Transmission Electric Company and The New England Ilydro Transmission Corporation pnwrtional to their advances. The investment is m

being accounted for on the cost basis. The stock received is not readily marketable, but gives the holder -

rights to purchase power at a percentage of the fossil fuel rate. - -

During the years ended December 31,1997 and 1996, the Plant received dividends from the abmc

_ m. _ _

noted Companies in the amounts of $72,992 and $65,118, respectivdy. n... m .. -

H.A.EiniNF85Wa8 1.itigation and Other Alatters M i

'125 INSTALLATION ALLOWAIKE

1. The Plant purchases power (.5337% of total Alaine Yankee Plant output) from Alaine Yankee Atomic y = g ,=2 Power Company ("Alame Tankee ) pursuant to a C,ontract that entitles the Plant to a pro rata share of the  ::::n,y;..-.y:: .y . _., m::

~

Alaine Yankee Plant (the "Alaine Plant") output. On August 6,1997, the Alaine Yankee floard of Directors officially terminated the Alaine Plant. During both 1996 and 1997, the Alaine Plant ran only sporadically. av- '

OF~

During this time, the Plant paid the expenses for operating the Alaine Plant, including capacity charges. A l The Plant, along with twenty-five other public entities (the " Secondary Purchasers"), withheld payments g,g for service, including decommissioning fund charges. It is the position of the Secondary Purchasers that the voluntary shutdown of the Alaine Plant constitutes a matenal, substantial breach of contract, and ter- 1985 minates their Contracts.

On November 28,1997, the Secondary Purchasers filed a Notice invoking the arbitration provision of their Contracts. Alaine Yankee declined to arbitrate the dispute. OnJanuary 16,1998, the Secondary i

Purchasers filed a motion to compel arbitration in the State of Alaine Superior Court. On April 6,1998, the Court denied the Secondary Purchasers motion to compel arbitration at this time.

On December 15,1997,31aine Yankee fded a Complaint with the Federal Energy Regulatory Commission (the "FERG"), a, Ling the FERC to compel payments from the Secondary Purchasers. On January 22,1998, the Secondary Purchasers filed an Answ er to the Complaint requesting that the FERC dismiss the Complaint, and that FERC order Alaine Yankee to proceed with arbitranon. As of April 6, 1998, the FERC has not addressed the Complaint and all withheld funds may be subject to repayment and an interest charge.

In the opinion of the Plant, the amounts, if any, that it may be required to pay, would not have a materi-al effect on the financial position or the results of operations of the Plant if disposed of unfavorably.

2. The Plant is involved in various legal matters incident to its business, none of w hich is believed by man-agement to be significant to the fmancial condition or the results of operations of the Plant.

I

3. The Plant is also involved in several proceedings relating to environmental matters. Although it is diffi-cult to estimate the liabihty,if any, of the Plant related to these environmental matters, the Plant beheses that these matters will not have a materially adverse effect upon its financial condnion or the results of operations.

! 4. The Plant is involved in the pnwess of refurbishing certain plant facilities. The Plant's current estimate of the refurbishing is approximately $4.9 million of u hich approximately $1.4 million has been expended l through Decen.ber 31,1997. Actual costs and expenditures could differ from those estimates.

1 Mies continued on next page, so

Notes to Financial Statements a

Note II- Pension Plans The Plant contributes to the City of Taunton Retirement System (" System"), a public employee retire-ment system that acts as the investment and administratise agent for the City. All full-time employees par-ticipate in the System.

Instituted in 1937, the System is a member of the Alassachusetts Contributory System and is governed by 312ssachusetts General Laws Chapter 32. Alembership in the System is mandatory upon the commencement of employment for all permanent, full-time employees.

The System provides for retirement allowance benefits up to a maximum of 80% of a member's highest three-year average annual rate of regular compensation. Benefit payments are based upon a member's age, length of creditable service, level of compensation and group classification.

Alembers or the System become vested after 10 years of creditable service. A retirement allowance may be received upon reaching age 65 or u)xm attaining twenty years of service. The System also provides for early retirement at age 55 if the participant (1) h a record of to years of creditable service,(2) was on the City's payroll on January 1,1978, (3) voluntarily . City employment on or after that date, and (4) left accumu-lated annuity deductions in the fund. Active members contribute either 5%,7% or 8% of their regular com-pensation depending on the date upon which their membership began.The System also provides death and disability benefits.

The System does not make a wparate measurement of assets and the pension benefit obligation for the Plant. The pension benefit obligation is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and step-rate benefits, estimated to be payable in the future as a result of employee service to date. The measure is intended to help users assess the fund-e ing status of the System on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits w hen due, and make comparisons among employers. The measure is the actuarial present value p N of' credited projected benefits and is independent of the funding method used to determine contributions to the System. As of July 1,1995 (the most current valuation date), the Plant's unfunded actuarial accrued lia-g bihty is approximately $14,699,000, m_.;- elebratm, g The Plant has esta'blished a separate Employees Retirement Trust Fund (Trust Fund) for the financing of future pension payments. The Trust Fund had net assets (at cost) of approximately $13,395,000 and f- +%L::=

50 years of service $12,942,000, at December 31,1997 and 1996, respectively. The market value of the net assets at December

' *Ai!.:** . f,." ",,% ""' 31,1997 and 1996 was approximately $14,131,000 and $13,396,000, respectively. These funds are invested

~,," 7 in money market funds, fixed income securities includmg government and corporate lx nds and other equity i === ' T* 8""aw tw , securities. The Plant has made no contributions to the Trust Fund in 1997 and 1996.

"*****'*' The Plant receives from the Trust Fund, user the next thirty-mo years, an amount equal to eighty-five

.y4vstog FREE 150 WATT - percent of the annual amortization of the unfunded pension habihty[The remaining fifteen percent of the me . LIGHT SULBS ' unfunded pension liability will be contributed from current year operations.

• * ~ ' - "

i zcrry The following represents the components of the Plant's recorded pension expense:

. op [Q*31

-=w6."*"" thceder 31, p LOW . . -

A COST .t ****'*"" 1997 1W6 iGTY pkg *%NO Gminhutions to the System Contnbutions from the Trust Icund 51,706,057 I 112,325) 51.661,N7 (1,0 % 466)

~2: ~+<?"' Recorded penuon expense (fTOUT2 5 mit Prior to 1993, the System's funding policy for the participating entities was not actuarially determined.

The participating entities were required to contribute cach fiscal year an amount approximating the pension benefits (less certain uncrest credits) expected to be paid during the } ear (" pay-as-you-go" method).

Effective for fiscal year ends 1993 and beyond, the System has removed the " pay-as-> ou-go" method and will amortize the unfunded pension benefit obligation over thirty-two years.This change has been approved by Pubhc Employees Retirement Asweiation.

Accounting standards require certain related disclosures he made including the components of pension costs and the funded status of the System.The effect of omitting such disclosure on the accompanying financial statements has not been determined for the year ended December 31,1997.

Note 1 - Coal Fired Electric Generating Facility On January 31,1991, the Plant entered into contracts with Sdver City Energy Limited Partnership (the

• Developer"), a Delaware limited partnership. The con-tracts pertain to the leasing of a 25 acre parcel, owned by the Plant, adjacent to the Plant's Cleary-Flood Station and the subsequent buildmg of a coal fired elettric generating facility (coal plant) by the Deve!oper.

During 1996, the potential coal plant project was tenninated. A settlement agreement was signed in March,1997 which released both parties from their obligations under the origmal agreement, in accordance with this agreement, the Plant was reimbursed $450,000 from the deseloper for expenses incurred on the project. Based on the termination of the proposed plant, the Plant charged operation for the write-off of the cost capitalized in excess of the $450,000 received from the developer. Tbc tharge against operations was

$1,307,145 for the year ended December 31,1996.

Note K - Post Employment lienefits in addition to the pension benefits desenhed in note 11, the Plant provides post employment health care benefits to retirees that meet certain requirements. Retirees of the Plant under age 65 are eligible for the same health benefits as acthe employees, a hile retirees over the age of 65 are eligible for MEDEX. The costs of the benefits provided to retirees are borne 75% by the Plant, and 25% by the retirees. Retirees' survivors must bear the full cost of the benefits.

The Plant is charged their prorata portion of the " pay-as-you-go" cost of benefits based on an alk. cation .

by the City done annually. For 1997 and 1996, the costs allocated to the Plant were approximately $199,000 )

and $3 39,000, respectively.

33

s;. *.c.,. ....,

. , , .. -:.,,.r.. ..t:..,...s..,.: ..

' n : :' ..:,' *y>: .. < ...r -

,, . . . .; . . .* L * ,y '. 6,*

' . . .... '~.,i..;.-'

.s,

'.vp",'.

.. , . , - ' . ' '. .. .,...e ).,...',.....'.%';..>

s

. . 2.. 1 :: ~

. -. ; .. -. . '; ; . ._ . s :.(.

.b.... . . . , ' . . ... ; s.

':' - . . . , <.. s. r,  ;

- ,:) :. :. s.<,- ..'s. -* ,: . , t...: , e.:

\

,.;..,3..

.. ,..at. . . '. ~

i. -  :<.  : '..

. . e... , .n

%. , .~ i

. .n e . v .u .,.s . .'.s. s.

* . , 4+...z,.

t..'~ '.  : - ,.

+ '; ..

*d . : ,, . . i * , f. ,

. :. . ....:. - ' * 'l ::o .

.~......,....,.v

. .. < * . a /m. -f, .' ' ,9 ..:l' .; - * ..e.. M., ~

.:s v,:s,;.y.,{;a .;.a . ~. :. ,&..: y. m. ,W. .! ' ..:l9 . : . s . .. . . - ..,;Q'v .. - w' .< ., a: .2.. .Q:. y. y... ' .w.~,;. ,,.. : . .:+,+~ w... . p. e:- .. ,,.s. .'c;,.. m.'. Y.: . ? .n

.'. y "N - -ll . 4 g' 1 ^ <, ?w::;': .m ,' Q

. - 4 v .

c

. . :n . . . . ,, .  :. n' . .m, . 7 '.  ; .  ? .. - . .n  ? .  :  ::. . . < .*, w

,' g,

. . , , . a.. , ,-: .:a....,,,..,..'t

, %< ,.,o,.

l ,

, : , i .

, .' .,.. .s. .,:,..s,.... ..w.,:.,a,.,....., .c... . . . , . . . ,..,..,.5., ...t,,, .. .

h. .

:.

3,-:,:."=....,..c,<V,.

e,  :

ia -

. 3. . ,*..a~.:..

, s,, .. * . , . : ,u1. t ,.,m....,..e.. 4 v,,

c....,.M,.,,....>..,.

.,e,.. .,...

. , . . - . . .. s

.L .,.. . . . .-.. so

.. n m p: : r ::,, , .: >. ..: ~. .. ,,-y, , , vtq.c..>..- .. < . a . >. ., ,:t

.s, : :,.,. ?.. .. . . c. . <..._h . ..

.,m.

• m*!i .3.: 7'>u'..

,:,-:et .. :.a i -

y :, < . ..- '., . . .4.,..

. , . , . > n,..- t, gm,s,. ,.

\ :.~.>;"

g f v'?>c J.V y' : a ,, . ,; . -'s -; 'd. . . . 'i.*: ,%ff y. ,, , ;.,.Q;.:  :.',; .)  : .. ' . - >.'.~;.. ..':.n . s' 6,g,g,

...~

. . , . , . : ,e .' .

. ' . ! : ".'. ; , ,,,: * - t, ' ' ; U:. >.e.- ';: ) ' ' :' . : .- > :" . . y ;.:.,) O ;,m :'.: l. _.[' 7 . ,; . . . ' ;: .< ,j : A . ; ' , ;'; ?:'}.6 ,.:g<*'< -

~ . . ~ . .n A ,<Vl , s ; .

,) .',l Y '.fol :.I:\,:.:,f.fh l'.

., .- ,'  : : - ' .s"., < ; : .: . , .:. ; . .. s .: , '::' : t .y v,,., '

~

'..-6...,7<> ]'

.' 2 .,.

,.g. d . V

&* L...o '.'.Q' ' * ' :;...

, Y '

s..

). '. Q. s ,, :,',f .: ; . i q*e. - - l . N i ?:; ~ ~ . .$

ill, : '~*' . 'W  ;'.,ff 3.'y).: ii ;' .*Y *. f 'N lli;-

• %; ~.

: ,; . .... fy . , q.".,.. *\ .:* < , '  :

Q::: . .* ..d:. ' . ' . '

' .' ' lI : -

, :, j f:' ,

. . : ?:'y y ;; .

L

'. . M % '.*f

.?'qp'. R .~ : J 1....*q! ':: $;s

• 1h  : Y * :y ..:. x . . 5 . c N. . s,.:

,l.'

f.l_._n...

' I'.', q'&. ,_(. ....' j ' },,i. * .~ ..',q .Z. . f;.;g

}:< h:.;r.%. e Y . ; .~;h..:

,f.'Q:.. ,-('.l,  ; ):. [,'. ;. ^

LJ.b ll:p'[. -'.;n'

c. ' : . i.: y' :M'{n.

. - ll. . .? .,7. ". :. y:. k9.,l y... ;} [p? ." : ) " N .3..;' f. ; ,,,;l . ,*

~ :: \LD.,

^ .:

[ . .. ':, :. . . , /.e:d

. '; .'{ : yl ;. y . . ' , ', : f.t.;:' . ' f; .. ' . %}:

. .4.

v. Q '9..W' l Y.T ' {. " Y.v l ~ '.*... :.' .,...

.. "'. .'. .~ i Al i. .'". : . . ~.,: ' ' ' .

';c'.. le t ' . < ' . J V.

. .f. ; l, ' ,, ~. . .

'.. +  :.. ';.. ' . ;,;s** ' f. ' - ~: * "'

• ..? n

,. .c, c..s.'... .,.?'.. . . . . .'. ! (;, g. .

', f  ;[:; '; ,1 +..; .

Q., J..,,.j, J f)l s.  ;'.' . .. . , c.

l .: .\.f . l . ; ' , ,. ?;Q:fi. * '.i; : , '..~' . '* l'.l,.!l. . O ' . .'

.L.,,l ,  ; , .,  :..'P"3 '.tl% *.. .

}

:  :- . . . .: ;. .,c a* :.g

s. s * ;. ? ,. .

.'7. .. bz' 'S

. .:. .c ?. L : . :.: l,. . .' .: : lq ;:[::" ; j' g,

. . ._ .; ,:4,;.  ;,:. c.

L:j' .. .'. .~. . , ' -3.)  :.

'. Q' ',"? . b. x. g,:. ,.7,:.:."l.9*; _:'...;,

.: < s  : m . . ..

• - ;. , :: * :. .m,>

.g- y,;ff' ';:.[7' ;. :lf '. .e ' ., ) (, ). e, %. ; . ,,'. i. *, ., '. .-:.' ',:... ;< q. , . l.- .. + , , . .p;. : !:u::.

y:.

• , :.? . Y .,_ : ;7 . .} [

• Q _ - L,

.k :l .N. ,' ,, i . ,5.',^,

' '.;;: '; Y? l_!*[.;. . ; f.,

, ,. :: .. q, l . , ;, c .):l'l., f'? k... ~. - hf'lC :'] fl E.^ Y l '..':

m

/ , .

?l l.' {: ,;.l,,j: .1 .j.'h J ;.;, lll , ' .,.e

, y: --..~>.. ..,,p...c....v...':.,.... , . .. ;.. :. :s :.

~ .

.. - s .a, c . ,-.,..,..+..:. : ...v- ..,.<,:.. :e....4 L; - : ,y . L' , .l. ."{.

- . .h.3;. : n,. . . . , - , ;;' ..J: .f. y ;.f .\O Y f.'l**:

, e s. .. . . . . . .^:. ...;- .:~.- .. +. r .; ' 5 . .

.,'Q ' ' \ * :'*;l [- .4 . .

• . .. : ~~.'.,;.-.

..,. . ~ .

....._..;u . . : :.~....., , . . . ~ -

~s:: ,,: .:....<.'.'t.,. .

f. . .. i. e.

r.

_ , ' ., ;;.av ]I .. ~*:

.. . :... .,'.*: :... j- p: . s. I.

. '; : ,. 'f ~ ,. *'. ; s l':7.1 ,. . _ . .- \' .  : ,. .

't  ;; y

. ~ ., .. ;."sc.:..-s.-. .:'[ ';-,~.

. w';-l's.

ry . - . . . .

. ', 5,. ,.. p . ,. yp.J;'$  ::s m .w.<; .w,,,. %.  ;. _c.^- 3'.  : .. ' , -

..%,' ,C9. - ,[.'.. D . \..m, .' '.l. <'}*' - ' ' % . *f, s  ; '

. l . . , i h.

a.  ; .

~

f'g r. ',l f ,':.. . %: ' : l4f }'; _. . ' .\.i

_; .l:': b r., ' _ , ' . . ' .(,

c :::.1. 9' ?'l- ......,.,..!

u .,

.. _. s j

. '*?l..f j ' ,) .,

• f.1. .] y *'- ., .*_

• O:

' j^ .

T .3'i. ].' ,

_.x

%: . .: s.,.;* : - '*<. - > .l -  :.';4, ,s..f -L:'^).h ^ 4. n.. y: ;:;.':...- ,

- .,; . ' . _'*?,Q l * ,;

},. _ yj,, ,. \ :.f.,jl , . ; f.'c *: % '

l [ ."* , ll.; [, ' _. 'f .'y' . . '.i,.. . . '

'* -.: ', 'S. ,._v :\} l #.,p.<'.4.u.,,y'',._, ,, p;,;, ,.L :;..y.;;. ;_.g,;. .~..;...' ( '. _:.l . ';;; ' ,', ., , .,. . ^ *(tl'} . '.l * .Q ', '. , ; ; ,b .b. f. : . ' *. , , ' .

. l 3. , I. .., , _ ,. ,,'f.' .,., , ..:., :,.;. . yk ,9 : .y r

% f; , ' . * .. ,. - :l_ a [.'

.. _. p .Q .*; . ._. * , '; l,; { 't h._

.n . . , . * > ,

, j ._ y . .

.y. ,' _ q. ; ,. ;;

- q 1. , . .,; , . .. .. . n . . . , a r. ,-

y..._.__ _ ~. p, p,;t_.._ *., ._' .,_ - ., ,*.'. . '.Q' : ] ,: .-h ,,

-WR. ": ; ,, ,%. . . . . ,

. +)) y,, >:; .z' +

, * -*;.. _;, .l %

. .......,,.: .; . ;,: pn; q .1,;, _ . _.. y ; e

', _ . g ,-,: ,' .y.

: :.. ' .;.., 7 L. . . -. . .-r,... ...  :,~ , ' ...._..b,'.,.','e,,.1.,q V

. g , . .;  : .

.,[, , * ;.

h. 'y:..._;,'  ;, s ,, u:x'_.

'h f

,",'~

I y . , +' '

']'W,'...Y,  ;,j_',  : .L- ',.3...; . .u

,g

' .[ ' ;}  ?  ;. ' . l

',

q' r  ;

}:

.s>.

" '  :. . ~.

i

..: ,  ::~ i-

.'.,'.,..'":l .Y-

• ll : I.':.  :.s &2 ~.',3,W'.

f:

. i; e . ?l,  ?' ,f ' l,,. '

.' l.l ' E' j'*l?. ' f : ,' ' 'E \ $ $$;s;f . ". '.[ ;.

' ~ D.-

- .:* - .. .r .: . .[> ;.s...,.; , ..'y ... ' ..:: . :;... :: , * ' ' ' _ . . l.

'.{.ef *..i'l, ', ,f ~. I. . f * , *

.'?.,.*,.'...-';'

o

• }; . - .

• ._  :. q . _,, . . . ' . ,

% , < ..  : ',v,.,- . ' .: - 'e

- . ~ , . ' .

!**-......- . , , . , . .'.'.:, ....:,.- ,e,--

L 4 * -

_, ; ? n . } * ',. . . 4:.~ . , { : .e.*. l '.', r, ,,- . ;.~..,; . .. ^ ,

,,t s_ . : J..  ;: ..

,,...  !;;' ~ ',

*: ;;;. ' ::' .~ l. ,_'.;:;,.?'?

' - ;'+ q-N,.. l ' 4:;'  ! _ \..

. 1

;,. .;i' .* [* .;; _

, n,' ..-n.' '. .,,....; . _ ' .. ...; , %.*',

'd[i

l Y~'*. ' , . .

.;..y..' . : .'. , ,... [ .l. : ^'-

• . . . ' _ ..'.y. .-: 4, . : :

. . '. ' ,\. ';..y.. J ' .': ',' .y.: J .. ' c. .. fm . _.;'.,;....

9 . . %. . .:' [ _ , '";;. . .A . g . ' ..!'. ' , .::; , . . . y' .:.

,; e '

..;.s r

. . . 6-*+ .- L ' . -,

~

......; .3  ;.. > . . .g' *. '. '.'  ; X '.u)Q: ',. .

, ,- :, ; u",,,..,..',s.

4 . , , . , ,~ ; . . .c:', ..y'.. :- .,. . ~: y., y y.; r. ,.. . , > , . _; .. , . . ya....C.4...

-: -o .

. . ,._:. !.;*r ..'.: s, . .

n.

.';,: , y '. i , . . *:D ; ;,-'  ;. : 3 ., .;. .,y ~, . ...^.,: ..g w ,'(

. . , . .e

.; 3 . .:.,-:

.;.: s .1 .2

'W..

T- - ,, :. ,e- .: ..*. H. .:-; '., .:'. . ....';.e.,3, . t a.; .M,,q.,

g .~ : r s

'-- * . c: ' w;

.;  :. A ..

,

.s

'.:n N + '-. '; < _ ; , . . ;.~, . 6 ..r-  ; *\..,.,,. , ,,. ,.', . - . . +, .:4  ;  ::

'*..^.:~,

....l- .

.l ,  : .: . 7  %

% ' ,:s

'..s.>. , , .- .'. . . ' . ,

,.'s..,.

,l* f.1..,.,....*.

. ef- ..*. . .l. .. . '. ..s.. ;' },. ?., .. .;f.. ,l:, , .* '.,.'.,.s7

.s.

'::h- f., .~: ,b,s,3:f 1

l. .\,,,'.",.:'.,,'_q.

-. .' .' y.G ... ;...-

.'.;"',',.. .' .:.1,%1  :' .:lwl.,:. - :. ' c n *:.,q,...','..:,-

,,..\'..

!' C *1 .,4,'),.,.

%..;. rl.n.' A y: v,. q ' .. * ,

.f

.t

'v :. .'?  :. .: .. , </ - .

.s, ,.

% . 4.'v , L .2.-

i ._

y . l . ' O:~; <; . ".U...

. . r ~..':*. '

? .

k' . v.

t.',;..-l*.,- .

r, . : -

' ~. * .  ;'

, v

' r . M: +.,

. ll n.'.:.c'. ...'.

.V T*..,

.s,".~

g:

, ^ . ' L; 4' '

, 0 ;[ ,; . .';;*.%'f.'<:;;(;;i

.f.l,. . . '*

9 .' .f  ; .;ff, ~;:'y'ofi;'flN  : .

.l' , l  % .. '

,4. ..', y

', . . , / * &, . , q  : -.':

'; .;; h,;ck.e 1. . ': '" ' .  : ,,;  ;  ;;; - ;

..JC e

'- ~ -' Y,,. y :, .f ; N,f.l N . .

I,, _ [ .,

^

_l.. ' .  ; .; _$. '.\

• l fll{ ' l.  ?} _ Y".y;'.  ;,', '*, l,_'. ' ' _hl..f!l'[

• . .,

  ?:* [ .

[', -l *( 'l [ i;; QI$ $;l

• - . ..~

,. ,

> .:,; . . , ;. , . ..; . . l;. . ,. s. .'.:. *' . .. l, .}, ,, ', : '.-' . ': '. .: , . ' .. . '_ , f _ * .' _ 'l * ,.l . .l.. -, l7,' ... * ,, ? )

.s

.....,i.c...'.;.,....

. :4,.,.....,,

?

. , ..+ .;; .g. ':. '. ;, ,;v...'i . .'y ,. p; >_ -*_- . .,.e s. , ' .

k . f .;. . . .- ' - . - +

, ,. . . ;- t.

.;3.,_..,.

.....:.,'....,,.p.. .,$. I; f,).,.. .*~ ,e' _,, i. ,, l I.f. *.:.l' l ll' y ,

r , * ...... . . . . :. . . .',s:-

s

• n .

), -. . . ' . ... .., , ,.; ; . . ~ , -- ,..?..* -p' .:.,. }. .p. e, _.-

..= < - .  ; s :_ .[ , .... 't :: ,.

' ,

• ng; .h

.. .,. .j .. .: , ;;-':,.; ,.". p. .::er .'u , , ...,.:.,..

't,y. s'::l . . ' i n ; 's : ..^ ,

t

., . :[:: . .; . ~. ' - .'

,v. - , . ..

y.*

,4_.l " .,.

+ *+;j ' . . : ; . 9' s ,,'. 'l:

.: -.[ . 'c

+

_. [ Ql , ,.

. } ;', '. '; .,9 +

' .,j_g '*. ,, ,;t.s;. , .

y

.: ;.' . , . ,,s'.

.*s

..,.7,.

.. . ~ , .U: . ;_ . o. ^.

L,,

.e . .

., ...;:  ;^  :-.,,,:= ..;,,;- ..:, .,....y'.

- ..<. ,' l.l ,',l ,.,."*'C..-. , .. ..i . [,,

[:+.

... v - - -

2 ,,... ;. e-. r... ; .. .:. .+ . n*:, .,.a .y,.

. . A-

'? , , , [' . , .,2,::l* . '.. .' . .

l- l j,~.itl 1:51 .,

p. - - :

.. . k. ',,.:.}Q. f. ._. ; ,.,. .,:'. *.. .: ; l;. , l [l:

k ' ... , .. . . ...;- s. . '

.ll,.,l',,:\'\; ' ' ' ' ~ 2. v. ,,,,,l,;'..

!:,' . ~ ' ' ' ' .. - .

.,g'...' ,. - l' ::.

' T.. .. ,  ; j ,'

. ., . ; ~b

• .- , . ., . '.,,l (.C ~ ~'.; $ ), . ,;', .

., ::! ,.k*~.,.,.*

. ;; ;; f . . .: ., .,; '..,. :' '. ' .4 .'. .. ' . - {- .b.. ,* ,4.:.-

,,.r.,..a...

.,,<.$~~......')I,',l'.

+ ,

')'.....-

': l_".

,.,u /

. , .. . .n a #

. ..g. -. i.' ) % ' ' : :..

? .\ ,. , .

, / ,., : ';;.::y* .; .; c. ,np n

~ ..,. . ;. ~.:.- n l: . ,,:

4

:. . + -:. : ; .; .:. ; * . .

1., s-

. . . , r '.;.. -. G. . '.:;yP, ,:,,.-,q, >:;:

' + e g * , .; ......1; s.;* ..w,...',..l': . . .

. y s

f....,,,

' . . ,. ' : 3 - . . ';.. .-*'.F . - *  ; j ', ' . , .,.,s  ; .l s.' .

. . ' . . ^; ., . , . . ,

b . . ; a : : '. ,J'-

, , . . ,3' . - . .. - m. , . = , . R i ".

- ', . , ; ; ey 3,. :l, , . . **. ,: ;. . s

.'.:. .. .. , .. ....s +;.,, n ,

s..,.-i.-y."'

..r.- . t,,,..g4....,..,

..v.. ; . p::. -,*. .-

'x '; ' . ..

- , . . . " . ...,;'/,,.' a r.. .; . ; 4. .. .; , : . , c ..,.s.. , .-

. . .i:,, . . , .3 s e , ., e 9a . . . , ,, ,. . ,. .- . .. ,7 A. ;, , .,': -.

, . .

, .; . ;.~;

c ,.:n * .:. .. '.>. .. . . -

n ,

+

, , , . ' .. , - ..,. s :- / ' ~';.?,,-; . . . r., .l,' . y fy ;'~ . ' ',:#.:

c-u '..s .; s. v. , u ,

- . . ~ ~ ~ . .

, .. - g , .: :: - :...^ a:p , v.;.:

4 ' ..

w,,.',.,,, -;;

Q; f.,.p,t.'.:( ,. . ,:l,  ? ';

. ...,r .. .,.,..,,..c..'.=,y';_..-,

. .. . . :' a

^

.. _ <. s. .s/.,. . ..,f,.;.- i.,

. . . > . . . ,. ...;: . , n...

. .. , . . .. .; ; x.;, ......,.s

.- : 4. .

.c,

.....;.,...,....;.?,3+.

, + . , ,

. . . , . . ,-.q. -..'r .,7, . .ler

. . w.r. . a. - ..

n .--  %. . ; A

- .- . ...,.c,.

y. .

.: .s e....

..,,,.;,p,.'y

..o_._,.,.

...j.: + .:. *. , . ~. .;.., .z..,< ..; _...,' ;. ;,' ... . . . , t... -e., -.,

y.:

. ,,: 4

s,-

,/.y ,- , . ,- * '; < . . _ ~ . 'e - . ' .q .. .,:, * .:~  :

..c..,

+

.s .,,.<

~..,, . 7. y. .;, ;. . .' - + ,_: + ,. ,, ., ,. .' ., .* ' ,.-a.. . ,

.1. .

4...*r, , . . ,

..,.n  ; 1.

, , , 7.  ; 7 .

y, , ,

, ,-  ; ,  : e. s. .

g - . .,.,. :..(..i_.. ..,;

u , -

s.: . ',y . , . ' , ' , ;, .-~g,

.,./

(,

%+ 4,,;

, ' . ,i y . , ;- ,y.. *,.,....,_,.o.%

3e p.  ;. , .s

..,.s, , . . ' , .. .- -, . . ., ,,, .,v,. ., .. _ . , . . ... . . . ,<.%!;...

, ;~;. ;- t

'e.. ,;c.., :q ,. .

.~s ,.s .. . .-. . . - . ? . ;...:'.s.,?.. ~ , ,

s .c ..  ;: : s

., ,.. ,y :: *.{ .y f**, '.

c-a j' .: '. ~:- ., *- ; [,1 ,, ',. . , . . ..: . ; y, q .. .  : .: ( f:.l ~  ; ' q .- *, [, ,-* , ' , ,- : ' '.

.y., .*'_ .: , l ; * , .,,. *. ,, m, . q ,' 0.

g . . :,

%.\ ..; q..,.*r .

- 7 f ,,* N'*t, . *

,f ..? - - -;,.,.- , , - : -

. ; ' n

(  : b ,. ,,' .

. l, .......,'.;- . f. a ,< _', [ , ?l, ,,'C

. , . . . . , . : , ,* ,,, ,r.

. ,. .. .,, ,9,..-

lj.;',l./.h 'J.  %. .: } l):. *:. . ..  ;; -' .r , .: 1 , . .e ",. ,f: , .v.,', , , c . ., .. -)4 - ', . ' . . .,,- 4.c ,. . J. , ' ).. c.,. Y - ?.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     ,                                        i
                                                                                                                                                                                            .qs A..l                                          . [Q,        ., . ,n.? l.l;L,:;                                                                  , . . , . ;.V Q,fO,f. /. . .j                                                                                                                           , -..l:'.(:.?.,.-                                                                                  ]:[ v..f's..;                                               l' *[. ; ; '-lh..y,.                                                                      .L ),0.'.; ,}..f. [.;,;' ':Q                                                                                                             l. V.l, ;'e::.;
                               .h .9 . s . . :. , e e
                  .q,                                                                     . -

l....- ,

                  . b ey ! .d '[ { <. I,. 'p ., .' i- c.' [..'1 C [ 3. ('N'                                                                                                                                                                                                                                                                                          s....
                                                                                                                                                                                                                                                                                               ...                                                                                                                   . . . . ,, g f, .1                                                                                                                                ..g,-                                f
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       ~

y

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .,                                                                                                                                                 - - +, . .

i c M.,,. . .,.'. .,.4,[72-[#'d 5 . .

[' d ' (#. "['t' . ' i ;.'E l ; ~ 1 , % [7- '2.' 'i[.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               ,~           .s.i.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ' .i g ,-                                                                                                                                        z. e                                                   ,,;
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               ......,..,,3
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               .~

7 .p',.'..l ,. , . . , . , ." % ' , .. ,b' /,9, IO  : fs; .fe . '. 0,, .= - .

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              ',       C,         s,.

'_ l'.. k' ' . .N N.g:..l .:.', -

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               '. d;; . ' ',. . ?;

[:: ' . ' ;, ,Y' [ -l.. ,, l' ' ' f. * ' Y;At', . '. "

. g*  : f.'. s V:. :.{. .;, n * *: . i _ '

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 'lY. f
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .- E.
                                                                                                                           /                                                                                                                                                                          '                                                                                                                                                                                                                                                                                                                                                                                                                                        .
                                                                                                                                                                                                                                                   .t-
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ;';.y:.[dl's:; '='                                -

b'O .,,';;3'

                                . .,.. . {.;;' .:n                                                                                                                                                                           ? ;. , 1_'.' ..i, ...:j .[J.; '; ; ,.. w:' ; ' lg': ':l lM                                                                                                                                                                                       t; :( ,j; s 'yl h :* ;,'.;.;,                                                                                                                                                                                                                                                     b.f .Q - ,. l' ?- lt u,..

i "p  :.  ?: - f " 'l'

                                                                              . . ,.                      ,j._.a.. , p,*:*.. ..(l                                                k a ,.      h}e          , : .:a'.ie       .                                                                            . [. .'l -[, .'.}.,l.$. '.,, ,i,.?.e. )p,                                                                                    y b.". ,'f.; , .f6 ,~...,e                                                     ,.[ .j:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       .; o;                    wl, r                           q':4. :).

l. ^,Q. q .l': ,_. y,} 'A ..

               ..,fl.
                                                                                                                                                                                                                                                                                                                                                                                                                            .                                                                                                                                                              '"lyt_l* {%)........,,...,."l..,.                                                                                                                          ,?, ;_'G ,'}                                                                          ,'
                                                                                                                       ~
                                                                                                                                                                                                                                                                                                                 .. .              4                                                                                                           ,..                                                 .

v... .: [. :L

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      .:*[              /. s.,. J.' ..,..r                           lo:_'j.                     ;# 'c:
                                                                                                                     . ' . lf y. . ,,&..fj h.                                                                                                                            . . .'l.<.,*.                                                 '. -....;2                    k,,n                                                     j..
                                                    ^
                          \                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    .                                                                                                                                           .

o.. ,. f_f.

                                                                                                                                                                                                                                                                                                                                                                                                  '.,$(,l']'

k.!b l 4,_ {'g 3 ;. _f,. . . -i. f. .', 4 .'A.._...g.,- . ..

                                                                                                  ; .< 5'.;.                                                             ; .: , , m                                   :: .r %*                                  ,' w .:%.m.g.Q

{Ill .l.y..,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     '                                                                   ~

t.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   .[ . , . ;.,. ;.                                 .. Y '.,',,f., ,,fe:.' . ll, c
                                                                                                                                                                                                                                                 . . ,*;.n., - -
 . p .py.. ,. i.:s                                          .:, :v '. *xW.:...

p:! ;:g. ., 4. y:.': o  ; ; ; , .:q [ .. . -f: l {

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            ;,, 7,'.,6                   '9                 g.h, u, .                                                                                                                                                                                                                                v                                                                   a'                                                                                                                                                                                                                                                                                                                                                                   ..
                                 ...v.                             s..c                                                                                                                                                                                         >;. q. . o, ;, " . ;1, . v; 4. < , "                                                                            ,?..               . .b .;, ., .L ;.; +x : l . ;                                                                  ..;<n                      W.;y;: ,~,. ;........n...;.t                                                       , .,

a'. . :w p.. :3.. v '; ,l's, m.,- ' . i , j~ \. . .-(. : ~, *. 3.. __ r- .-

                                                                                                                                                                                                                               , , -                             .. . , u ,:                                                                               ..                                    . . . . , . ,                                                    L                                           - : g..                                                                                                                          .. > ' ' .                                                  ,. . . , . . . .5                                      .~..% ;                                             .:L r. ;)d-_   e                                    ). :+ u'.:..4..,..v.,....;.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      . g .f s ..; . . :. - . . g.

y, ><l, b

                                                                                                                                 ..                                                                                                                   t Q } g : . . ,,{'. f ... [ :; ,,- ) _ y..f:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               ' *'
                                  -- .-y*;,;;.,?:                           ,s , . as.

3 %.n; fiU, c g. . _ .;;- [; '. *.", y1,.):-

                                                                                                               ' ;O.'c Q :_
                                                                                                                                                    ~ ..f .; ; -yY;- - _:in s: a

efy..Q.;Y ; 3 . . y. 3: ;.t;:, r_.=, ( . g, y _,i,_ . Q, y. . Q V,'r:4 ; ;.} ., ;.! ,, *. l- ;, :

                                                                                                                                                                                                                                                                                                                                                                                                                                  ,:n.Q.f,'.
                                                                                                                                                                                                                                                                                                                                                                                                                                        ;:                                                     _;, . . . . y ' (;..f, b g:::,                     [       f
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              -.p.. .?[

l%

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             ,      ;;;      : .. , 'y......       a ..>? - (. ;3,                       .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  . . y ....
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ,: . y f ,: n,is '.l; , . ' . ; ',f, .iR ,;.' \. ;     , ,.                                             . ,
             ,*. . ,s];)!?.T*               > >L,r,7}                                        _.<.4                                                                                                                                                                                                                                                                                                    :      .      ;.      ,    .:      -                  p ,?..              ,       ..            f     _        s        't,         p
                                                                               * *,y                                                                                                                                                                                                                                             9 '. ?v.          . :. 0;W.          . ~ ' y \.,IW '

9  ; ,:n; '_:];. ,.: .a <* .,y.'.... '._..,r*,,. '.'.7., ,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          ... g;:p,,:..                     7:, l y,               3 Vn!'
                                                                                                                                                                                                                                                    < d,$ l, i.e.'.                                   : .ic 'O '. p:

s :.0. ' '?. *. \.*Mtv;; y; . !,!. iA . .:~'E

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        - r *. h: .'l. W & y ..;n:

s  ;

   '4,..                                  </.%.,.4 n . ": ,q
                                                                                                                                                                                                                                                                                                                                                               .; .I
                                                                                                                                                                                                                                                                                                                                                                                                                                                    '$*' .N.v!.J.T '.i                                                                                                                                      3-i.*D,..'

A, Nl' .Y'

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  -* x: '?(.                                    !::';                . .I. . .2...

W l,.f:.9 ;.Vy % y_m,.bN*).:pf., %)W, ,. j,,; N.,.$,7 &, : , ?'! '?,

• d: \' '.~lf l.1m,y, ; .;;. ;, .k. p..

yyi., .g ~. n 6. g .. ;, . N ,b...s;; .a : .* *:. $'. , . .

t. 9 ..',e f: p..:

f ;3 Yi.&, -% .5,'.i.'

         ?%_, ..p.F;-):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  1. ::                         xu                                                                                              -                                                            *
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ..)
                                                             .N'.. ; f 7; tie-l, , t./ 'J f .0 0,i..)[,:. Ve.Q ! .Z '4%g
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ..s                                                         o . .. g ." .

C. a' s ' W'MQ. 4.i. .%.y  ;. :;l.'l: .; h,j.,' : V, t :? .7.,

 . . ; *s).: J. . ,,

- - .*. -)i..,,...M.'.. . ". i. . jY ,l, " k. .. *~' 6;; ,..Tt .

                                                                                                        .(.'-'                               .
                                                                                                                                                                                                                   - ':-*-          , 9':. '.' i; :...  . w f '.i: j!'s : .-* ' ; !.?ll
                                                                                                                                                                                                                                                                                                                                       / g,i y. . $ . ' t,; ' d ', s',                        '

A  :

                                                                                                                                                                                                                                                                                                                                                                                                                                                                    ^;
                                                                                                                                                                                                                                                                                                                                                                                                                                                             ~ .;

• f. 'f', 'l G );. , f.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         ,              .flr                    '     f
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    ".;           * . 'y ..: , s,. g' U
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        '?.3

(,'  :, ', /^

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             i.. :.,  . - }. . . *r ..M .,,: %,                                                                                                ;
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              ', . . ';<'* ,. J ~ , ' . ', ; b. ./
                                    .y '

, y &. .:- c.:..

                                                                                                                ,.....':.<l>.                  *                .g','.    ;
                                                                                                                                                                                     ,,,'J %.

n:.,. . s L . .. f:: y J J; : . W .y,.o t._.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 .,':.'::' ; ;V
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   'Y' *,.,                            .:...'.y,.,   < a - ,' ;; .R       .-

r..,.s .: (',.:': i' ;r.?.

                                                                                                                                                                                                                                                                                                 ',.t. .: ~ .: . ..,.                                                                                                                                             y .2,.,,

.%. ,  ;, u"'y:< ,',;  ; g'T  ;*': .,

i. A

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  *.,...'.*:                                                                                       ..h.,..                                                    :Q:'(*um.",,a,,.'.

t

                                                                                                                                                                         . b n "\ ;.n:,                                                  *
                                                                                                                                                                                                                                                                                                     ,.- . ;;.N.. f , f. . l- : ,;., ., f.
                                                                                                                                                                                                                                                                                                                                                               !'      .,.       v      .^.h y.%,:a                                                        ;p\ .'ll ' . ' q                                                                               *;% .--.....;..~.u<**   J. Q : . : '( { . l'*..~ :,e'...{ W'                                                                                                                   ,.', .- > b,t:..s.                                                                                  ' .,. *'?,.'. ~.-,,..,.;;..

t,

                                                                                                                                                                                                                                                                               *8                                                                                                                               . .'. ,

sm.-.,..'L,..:;',....,.s.. 2

                                                                                                     .g ,*&:. . .t.; . .. . ~ q;U.j * ' . . l,. .. .,.                                                              .. , .l.; <

' . , ' ., ;./:l . f;n;*f-_1

                                                                                                 .s                                                                                                                                                                                                                                                ..

i .,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            . . '. . ,,                                                          '; 'q
                                                                                                      .<                     ,g e, ;,%).,,[: 'O..                                                                                                    . i * \yQ'.s.                                                                                                                                                              . . " ' .                                        ; :F. . . ".* 'g ! &*j .g'n
    ._ss!                           ,
                        ' . , , ...j4D
                                        ,      ;. . , . y :: ., ;; }. z,:'.,, .,                                                                               'q.

v

                                                                                                                                                                                                                                  ,k,
                                                                                                                                                                                                                                   .        '   ,', *. ? ...y ; , :
                                                                                                                                                                                                                                                                                            's
                                                                                                                                                                                                                                                                                                      .=v :,,& :. Q y 4, , ,

• g  ; .yf

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ..                 .    .        p         s        -         '     ,'        .       ._c,:                     J        l3l.                  ..   .  .',ya     ':     -~          ,:            9           (*1                 "       . ll            l     '  .        ",           l5,:,               '. ',, '; i ;' l n,

• l - . . ' . . , . , .. l : ', L ,Q e' , . . :

                                                                                                                                                                        .t
        .;                       .a

• 1.,  :

                                                                                                     .."._,l,,.
                                                                                                                                                                                                                                       -,       yf
                                                                                                                                                                                                                                                               ,.-.".'f.'

'w p '

                                                                                                                                                                                                                                                                                                .. *'" '          . ,             's
                                                                                                                                                                                                                                                                                                                                         ,    g..            ,    g                 ...v-    . .,       p' , ',, .*h. ,$d.i                                                , , g,(         ;: ., W.                     ,, . ~
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 . .f;,.M. . . .g ,/.<; i * , L ,,      '

a*- . , ;;, ;.s . . ,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           'z . f.: . .y., tj ': . Q* )),        :
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     \ ~ f. . , . ,.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          ,,-l.-                                                .

e$..*.<,...y.,,=.. s

                             .: ) .. gg
                                                                                                                                                                                 . ... , ;i s . ,. ., s ;; .a                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 , . 'a s
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          ,.,...s' 8 ,^, , , .

(. p"q,......,!. c,.'..,'.c,.. p ; . < '. . s..r $u ...,.,..Y.. ,,,.(.. ';

         ,,I'-J,,i,q'..*:.,                                                                                                                                                                                                                                                                                                                                                  . , ,:,* ,. . c. _,. .4.p                                                                                                                        ..
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            '. ,,.,.9 ,y j.. ,.. i
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    . , ,s,. ,                                                                                                   m.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 ,p~.-...,,,,7,,,,,j,
                                                                                                                                                                                                                                                      ..e,..                                                                                                                                                                                        ,                                                                                                                                                                                                                                                                                                                                                                                                                                                                           y . , ,
                                                                                                                                               * +* , . A. . ';,.[ ; .,                                                 4:

t..,,,.',.i,4

                                                                                          .a .
                                                                                                                                                                                                                                  ,,3
                                                                                                                                                                                                                                                                                                                                            +,e,.                                                                                                                                                     ~.1        .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        . . ..+ . . , .
                                                         , i ,                                                                                                                                                                                   c              *
                                                                                                                                                                                                                                                                                     ,- .                                    . s'i .. ;                                          '.4,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           '   .     ,  .    .       ,.....,,e.cg'                             ,     ,.      ' .+

a r + '... . * , . - '. , ' , , .j..,'.I+'sn....,,..~~

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     ,  . .  .    +       .             .

b;,. Q %.'.:is v, ,*,,s  ?, . ' -g"i*e 4 4', ',,l,,,*,. '7 8 ,3.W;'*l.:  ;{ *;; '.':.. . . - } ,'y '. \ . J (* ';.! . ' . '.-

                                                                                                                                                                                                                                                                                                                                                                                                                                                                              ' ,*                                                                                                                                                                                                                                                                                                                                                                                                                                                      --'E*
        "'                 *n                . ,
                                                                    e                                                  s               .%'                                                     . ,.
                                                                                                                                                                                                                                                                                                                                                                                                                          .L b si
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ',d'....'.,

9 W - ' , .. li,.l . .;J:j. :... . _.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       , ' l

• L ' ?..<::.?  :,'.,,a','.;r J:. :':e,L- .C y , . '

t,,. <

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         ,                                 , .'                         ,' 4 */ , *
                                                                                                                                                                                                                                                                                                                                                                                                                                   ,'        *-L                   ._'                 '        :,'I.

s ** *

                                                                                                                                                                                                                                                                                                                                                                                                               ,*[
                                                                                                                                                                                                                                                                                                         ,- e
                                       't d.
                                                          .      .       (     ,     g        '      ,..                                   +
                                                                                                                                                                                                                                                                                             , -                             #*?           I                                       '.                                                                 , 't s's             '.t.               %            . ,

i .. " .:., , ' + ' ,.. .' gn ' r. [f . , ' .  :.. ' -*  ; f.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                        *P                                                                                                                                                                                                                                                                                                                                                                                                -       '-
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       ,'I.*.1,',-                       ,   '     ,       '     *.       <         .
                                 ;.p t;. :                                                                                                                                                                                                                                                                                    ,                          ,,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      . , i . * ' j'.            ,                      ,,,,.y'.-.                                                      '!     #     *     '  .                                                      :       ,                                                            '; t
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ,.,I                  .,   "     ,    '    .     ,.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .,t'.                                                                                         - ,
                                                                                                                                                                                                                                                                                                                                                                                                                                                    .,:.-*                                                                                                                                                                                                                                                                                                                                                                                                                } * ' ' f ' j,. ; r' !
 -' ,.. .!:,;:..,. . , . ' .:l ',.*. ... *

• l , c. ,<, y;.,, .3.:. ,: -,--.e,"+ ? c ', . ::

   ,                                                        . .                                                      .i e . : . ,v , .,.,
                                                                                                                                                                                                                                                                                                                                                                                                                                      +.':.j.,c_,._.- .. , - , , *
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .n . .                            c             ~
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 . - - : : . ;,, a.                                               . : :v.... , . ... .., ,:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 '.,4
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      . .', ' .. ,. -;+ :;; t : .:. . :.

y, f,,,y,. . , , r' ,.,' '.. ,,..M  :,... ,, ,.,)..t* , *, n,,t ' ; . .: ; 6 *._q , f;- :,,...,+.,,e . * ' .. , , -:

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       * .r.:
                                                                                                                                                                                                                  , .' * : . ' g .
                                                                                                                                                                                                                                 !                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               ..;, ... ;<4 .'.;. ,,-
                                                                                                                                                                                                                   ,,                                                                                                                                                                                                                                                                                                                         y                                                                       ,'_g.' < ;,s i . ' J,'*. :,.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        . .:..             .',, ' ,~-_      Q..;'- . _.
                                            ' \,                                               %'.
                                                                                                                                                                                                                                                                                                                                      ~'s', , . ' . r. ' .. ,. l 6                                                                                                                                         ,

. . - ,f*.,'e-3 . . ,. . .

                                                                                                                                                                         ,. 4 .4                                                                                                                                                                                                                                                         s'
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       *,              l,,         e,                %            \
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             *=>e                                            ,7. ,s;
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              . .                            ,      p'6 ,.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       +

g,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ,,f**,_
                                                                                                                                                                                                                                                                                                                                                                                                                   , ' . ,. ... .                                                                                                                                                                                                                                  . - ;-,  ;# *: ,< + ?'

3. ,:.n .n '\,.,.., -

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    +            ,      .             ,          ,j,'.,,                            ,       '           ,                 ,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ,- g..,=_,.':
                                                                                                                                                                                                                                                                              ;.r. ,yf . ;..: ' ,'; > . .' ,' .. '..' , . . ... ' i:f-j,

• _ , ' ,- ':. .s : i ; . '. ' '

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   ,.,,;..,',)

t

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ,,,,',j.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    ,,                                                                                                                                                                                                                                                                                                                                                                                                                                     A p , ~:

(.4 . : qf. !3 ; . . .},, y , . , _: 3

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         . . . .3                                                                                                                                                                           + . ,m. .l .g

8

                                                   . . n :. ,
                                     .%I : . ,. : . 4
                                                                                                                                                                                                                                                                                                                                                                                                                                     ;a        .:.;; . ; .n* ' 3 .>

j' ,_ \;: . , : . : ,;,,-. ,.q' ; .,c

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           -         .         ~
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               .n            .  ,  :       i.

p, . 9

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .            y;                 ,           ,;,              .M

., . .'r.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               .! ';; - l

e. . .;. . . a: , . . ,i,.",;'.:...- ,

i #

        . , '., ~..,.'*4.1.-                                                       . * . , , .,, ,v, e'..t. +7. . ,
                                                                                                                                                                                                                                  . . [f. ' < '. .. ,.

• n. ".o . . . ., ...J {
• j . ', . * 'v.

                                                                                                                                                                                                                                                                                                                                                                                                                   ,      ,.4wt
                                                                                                                                                                                                                                                                                                                                                                                                                                                             ..            ,     .-                           ; .j-                               .,',-                                                                                                             'l,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              ,,Q, ,{
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      . . f. . $., : .:?.;,....,.

c  : . m..'.,,,..u.i. g '. >. ' , .. . -S J'

                  .s . ; ..m...',,".: .i,.'"./                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             'f,             .,         .        ,

f.; *; , ; g.. .-$ .

• s v e )

                                                                                                                                                                                                                                                                                                                                                           ,s. q         .      . d         +
                                                                                                                                                                                                                                                                                                                                                                                                   '       !     ,     ..       j                                                                                                     .     .                .,.                                                                                                                                                         :
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ,v. ,. *. .,A*o                   .                                                                     .'r.. +,*.                                ,
                                                                                                                                                                  .pl,',~<.'.,.'...,... s' J -1 , i.e..*g (4, ..                                                                           x. ,,

• k N ' ,-,: .... s' ...- , ,::.. ,.. -. v..,"~-;..g,.. . ' .- .

                                                                                                                                                                                                                                                                                          ..,i.?s'M,.,,.                                                                  t
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             . . ;( f + ' \* , y.                                                                                                                                                                           .t-              .H. ..+*;                                                                                                      c.'u. 'n .

y . y',.t,.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              ?, .[,..*                                                                                                                            M' , *j ' y. .c:                            '. . .*+
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             ..       ,        g:.                  q,',;.                        ;4,.w.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               .. .,, ,-   '  *        - <                                                     [.;        ',
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               ..          s       '     .     .                                                              ....r.s

lj,3 ; . ,z. ; 3 9 3' (-Q,$; . .y:}'.,'. . ... ... ,. .. .:, .;=y3i' ,_., * y,"< ,: .;. ,. ,',.,* ;,. .;,* [ l, . [

   .. %, ,::y. : ' q.;+ t . :                                                                                                                                                                                                                                                                                                                                                                                                                                                                     '          .       .:...,                                                                                                                  .+...:.. -                                                                                                                                              .. i~,,....-.. * . , . . ^ ; .. , ,                                                                   .,7.w
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     ....                                                                                                                   t.-                                    , .
                                                                                                                                                                                                                                                                                               .. .Q                                              . :: .QYyn;
             ~.e.,,,.,                                                             ...v

. + . s. , .. . . , v ,

. ".> R. ,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         .Qa
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         ,, : ,.$w.f.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             . : .,yp:.                              , ,s q...a.>}m.,                                  ./ ,y p.f:;f.g,                                                           : c., u,                             ;f, ..g%                                                              . ;n_.[,y :, .y:f t~. . ' ,,a p g; . ,,
                                                                                                                           *' s                v;. . . .** ;. .                                                                                                                                                                             s.*,.c.-       . : w .-.. ..- ,q ;,:' [, . m.                            :.                ; . . .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              . 4 . . . m. m . . o;y...e                                                                                                                          * > ,f.
                                                   .,                                                                                                                                                                                               .. s .                                    .- .-
                          ..&.,                                                 ? ;

I... * , . . , . , .+. ,, ' ,', *-P...;,'. , , . . M ., \.d . . , ,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                     * ..-              . ~. ...                  : .. .;. ... . " , .*         .                                                                 ;n',                                                                                                                                                   .. ,,

u .. .r; . . , > .f.; . . . l g . '.. T ; g' 3'. ,..t ' , , .. c ..' ( ' 1 *

                                                                                                                                            ,',,,.;,L. " . ' . ' - _ , ' , g, t          , -{ ,-3.k,.                 y

• 1, .*. .g ' ,, ,. f .; Csi,j*y...'.g'g g

                                                                                                                                                                                                                                                                                                                                                                                                                                            .s.'.
                                                                                                                                                                                                                                                                                                                                                                                                                                                       ..x'I       *q,.,.,.,..'..}....
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           . . . j . ., . ,'c. 6. . / , . .'; ; , s .'.#..%*,*,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .  *  .        .'         I.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          ;u; . . :
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         ., . , a . g*.k.,,'....,,.,,i,...>.,',...                                    .,..
                                                                                                                                                                                                                                                                                                                                       .'.g-                                                           .g * ) 0 ] 4
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      . .7.a
                 .,:: ) ,' ' Y, ),                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           ,?.

_ : *):.', --*.'e.,',,.Y,_.t.C ...W.,;.'.'. ,.).,,-,'(.{'. ' . \.[ f.. d ' p , (),". . , " , . - .,c.... p'.;[-~ , ,,.,: ,. ,.a,. :;.i.,j'.,' * *j: ..,,t'.. [ ;1 b,:,., s , '4l y ' Q' ,'l l ,'da,. c**4... . . . '[ . ;;

.':..                                                                                                                  -. .-                                                                                                                                        .;                                                                                                                                                                                                      ..; . ,tj ' ,[.,,                                       l ,, .,..; r:'.' -./,' _%' . . es
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            '."...'c
                                                                                                                                                                  , ._ ;_ : . r . . _ ,. , 4. .-                                                                    . ..                 . :.w                  '. . '?; . 3:., . . ;. c3.Q.,,.:.                                                                            ,.; ;v_ _, ' .y                      ,7 . _         , ' ;;_ . ;.                                                                                                     n *( :.' , y
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           *. * :  ' ' ( - - ::;                                                                                      *
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        '- c
    ?.' h.. : , ?.l 'l Q).} 7,, .-.:._                                                                                                                                                                                             _< ..'(:;,[3;f::,';&':t:                               .f. ; .,_ l,,,l.                                                                                              ..'L
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                } ,-).,'g,q. .',' R} = : , ;' ' ;,.; ,.                                                                                                       _.*::           ; .'. ' ;:               : *, <
                                                                                                                                                                                                                                                                                                                                                          ? ..ly'l,.:&}.k'l.'?.'.s
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           ' '; '?""'                  ",

p, .q. y. '

                                                                                                                                                                                                                                                                           .                      s

c. .]. ,; .

3 3, :l. '.".:;,  ? :. ', ' ::. y \..;.d.* N .*-.U ' * *N ' ; > ' h ' ' % I'

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  .. . . ..,0_. ; . ;~ ,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   ...p',.,.;..
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               - : : '5,
             ;t a . .;: ;,; .
                                                                                                               . . - .                                                                                                                                                                                                                             ,                                                                                                       .,                                                                                                                                                                                                                                                                                                                                                                       ;                 'V                                             '

i i J 1 3 1 1 4 1 4 1 1 s. 4 i i 1 1 e i

'                                                                                                     #         te g>+                                                        r13                    i.
                      , yc.            rr      .<     b,   14 ,    >n4        . ., ;>       ,.,         n.               ,

m. u <-

v i. < i,:i n o n 3

                         .                             E                      ..

7;

                       ,        ,,;-  <u       #      4.9,   ;n , cm       w. nu. . ; t .,      u        ,y     , ,.

1943 i i TMLP i l Taunton Alunicipal Lighting Plant 55 Weir Street Taunton, Alassachusetts 02780  ; i w

i;;' }"!:

                                                                                                                                                                                                                                                                                                                                                                      . j ' g. . . .: ? . .q '.l:,..'.i.y';?                                                                                                              , R. $                                                                                                                                                                                                                                        . fr.& ' . ,,h _, ,d T .. '.; .;:           %L:;.                ; ' .. .ij j<':                                      ij' .Q.l.7,Q.l', .l G.
                 . ., , . . . . , .                                                                                                             , . . . :                                               ,           . . ; ? ', :.                           .%d: f. i g';'! QQM!..* ;,&l:                                                        ....;'M                               .                                                                                ' .)' .?;,} . 0;J                                                                .

c'.!:.; n.4..w ." %. W : ,). * ' , .: i;; '.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ?
                                                                 ?                                                         . -                  ,r                                                               . . ,                                                                                                                                                                                                                                                                                   ..
                                                                                                                                                                                                                                                                        - ,- _ ; y , ., . . . g.                                                                                                                                                       7. .:. . .. > . , :                                                                                     . ,;.;;y , 7_q ..,                                                                                       y. ..                             ,3,....,:..                                                                     ..s._

e . y.- ., . _ i: (; -, ,

r . ., . -n'.J .;. ., ~ *j Q ) r t _:.-n

• _

                                                                                                                                                                                                                                                                                                                                                                                           % . ;_ . 3 . .., R y ,. -

2.._;,...,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               ,.,          e, .                                              ; .; s d.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             ~;.                                                              p.                            ;;                          s .                                               o.               =
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           .A - .;.; z+ ...<                  .;

3' . _ _ n _.;.^. .- :..: .y. ...b.'.. . : ..,  ;-._ ; : .' -

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 , , 21.;

7-( .+.:... . , . ' .: .;'. . ,<: .. *: o rr, s.

                                                                ,. , . .                    so     .
                                                                                                                                                                                       , . j.,..                                                       . ;; . ?.                             ' . ' . _ , ; - _'-, ,; . .: :; .,_ ;g... ;.~,Mb ;. . , , . . ' ,.,fa -                                                                                                                                                                                                                                                                                _ . ; ;. f;_,                                                                                                                                            y'.,; , , :
              .. n . ; y,; ; .

o - ; y :;. J: j.j ;;;,. ; , or}p 3, , . .f. ,, .3,j., :f; .,..  :,., . ,; ,) .. :

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     . . , ,, ., . .. ,' . 3.e f.i.., 3; ,. .y;.;9,. ;.. ,. ,_ J.:9. ". .. .. ,7.. .. '.i-
                  . 3 : . :. , . ., .r _ ;

_t - . ..' .. . . < p ..q . . . . . , ::s . t .. . . .

4. . g ..y ; , . ' ; y,

               ,. , m .e . 7                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              ;
                                                                                                                                                                                                                                                                                                                                                                                                                                            . ,. . , ,_ ., ', ' y..",,. .; 77: ., ., . ] (,: c ' ; 4 '. .' .;,.                                                                                                                                                                                                                                                                                          . ' - :t .:'. j ,'. .E it '         t,l.,,'                           ; '                     -'n                                    .,..    ' .} eg q . . .' ,j,,.....- ~, q .                                                         '              a                                  *
                                                              . . ' ,, c .;, . , .i,,.                                                                                                                                                                                                               n.),                    . _ . > :. , . _ ; .                                                                                                 ;-_
            .,:, . . . ..t                                                                                                                                                                                                                                                                                                                                                                                                                                                              .::                                                                                                                                                  y.,...._ _;                                    :
                              ..                                                                                                                                                                                       . < .                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           q.
        ' . '_                                       '- . > '_ .                    +

h 'i -

                                                                                                                                                                                                                                                                                                                                                                * * '. ' -                                                                                        ' '. ;                                 , . _ , ,                      lb                                              '!:                      .

[, ' N' - I

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              .' ' - : . .";}

J' '

. .. . ~.;_- ' ^-

_ [,cf . . ; ) .,_. - l.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       .. . ., . . .~.;
                                                                                                                                                    .~o..                    ,:            _ ., - . ~ . .

s

             ..-                 n , . . . .. . .                                                                                                 . .. .                                                                                                                                                                                                                                                                              .

g.

            . . , . .. .. . . . ,-                                                                                                                                                               w                              - .                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 ,
                                                                              ......m. - - .. .. .
                                                                                                                                                                                                                                                                               . . .. .                                                                                ..4..                                                                                    .. . . . ..
                                                                             ..                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   4
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  . y ~ <. . . . . -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      ~
     . e ..                                    .

y '; . . -' , s_  : . ; 3.. .. . ...;. . ( ..w. y. , .. .. . . , . . , v. ..- .. : .: ,. ' . y. 3..  : - _ .' . .- . . . .;  : -

                                                                                                                                                                                                                                                                . . . .                                    7; . ;                                             .. rj
                                                                                                                               . _ . . . .~. . . ., .

1 ' ~

                                                                                                                                                                                                                                                                                     ~- ': ' '                                                                                             '
                                 }..,                                            6-                                                                                                                                       -
                                                                                                                               -l                                                                                                                            ,                                                                                                                                                                                                                                                                                                                                ,                                              .

3

                                                                                                                                                                                                                                                                                                                                                                                                                                                                             .e , . -                                                                               ..
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     ..+                             . ... .                                     . , . . ; ..
           ..m..                             -:                                                                                                                                                                                                                                                                                                                                                                                                                                     -v
                                                                                                                                                                                                                                    .-                                                                                                                                                                       ;                                                                                           g.                                                                                              - ;. .                                                                                             . . . . '                                                                                               .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 . m
                                                                                                                                                                                                                                                                                                                                                                    *'._                                                                                                               - ..                                                                                                      -I                          . . .,                                                            .i.                                       [ '                               . - .. -

9 . - . . .

                                                                                               . '; -z .. " . '
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ..L.                                 e e            ,,
                                                                                             . ; [                                        &                                                +' . .                                                                    ~

I . . ,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ... _'- ., i '                      *
                                                                                                                                    \                           - - . . _

z. . , .. .

p ,.  :. '. e-1 . [s: ;.- + .._ _. . .

                                                                                                                                                             -Q..                                     .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ,- .~_ ,. .                                                                                                          %

ny . y . .. .. .. . .- - 3I - v- m . . . - .; : . . l,

               ',.             N. , ; . . .-                                                              . .
                                                                                                                                            .'                                                      - - i                                                                                                   _g                                                                                          .3,;--                     _ . . , ..
                                 -g..                                   ,                                                                                                                                                                                                      c                   ,    i.                                       .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ,y
                                             ~

m ._ .. , t . . . . . .- .. . .;; . .

                                                                                                                                                                                                                                                                                                                                                                     ..                                      9                                                                                                                                             .'. iI . .                                                                                                     .' : * ' I~                                                                                  .
                                                                                                                                                                                                                                                                                                                                                                      .,g                  )g'-                                                      -

i

.. 3 .. - -

                                                                                                                                                                                                                                                                                                                                                                                                                 ..                                                                                                                                                                                                                                                                                                                                                                                       .>f.i,;
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      , .-     .                                 c                                                              .

g_' _

                                                                                                                                                                                                                                                                                                                                                                                                                                                                          . . .. +                                                                               , .'
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           '.-                                                  . . ' . ;h;; y h;, .

( 3 1.. - %

                                                                                                                                                                                .g. .                                                      .                                                 .

p .. -

                                                                                             . ._ ; ; . . ..u. .- .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        .- . , . ... ~;; . __ _- _. .                                                                                                                                                                                      . ..
                      - . , -_                          _                                                                                                                                             7 ; ;. .,                                .                                                                                                                                                                                                                                                             .
                                               ;                                                                                                                                                            1                         . , . , .. ,                                                                                                          -
                                                                                                                                                                                                                                                                                                                                                                                       . i                                    -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            . . .                                         g                     .

[...'. . .'_a' .

                                                                                                                                                                                                                                                                                      .J ; p ;_                                                                        .

wn : . ; .

                                                                                                                                         ~
                                                                                                                                                                                                          ..~.,t.,.                                                                                                                                                                                                                                                                 . c . ; .. . .                                                               . .

3

                                                                                                                                                                                                                                                                    . '.                                                                                                                                                                                                                                                                                                                                                                                                                                           :e
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          . iJ ' 9                                                                                                                                                                                                                                                    .-                                   .- , . . , .

s  :

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           . - c:

p.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          }g ;;b :

l' . [f . * ' .

f. . _

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            .c                                                                       . . . . ~ .
                                                                              #                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             k                                                                                         ..[.

s . . , . . ' .O ' " g ag . - '. . y

                                                                                                                                                                                                                                                                                            '.~..-'.)*....I'                                                                                                                                                                                                                                                          .... , ,                                                                                                                                                                                                                       ;
        %.'.                                                                                                                                                                                            .,e                                                                                                                                                                                                                                                                      . . , : .
     . k. :,pu - ;; ..... ~..                                                                                                                            ,.                                                    -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ~
                                                                                                                                                                                                                                                                                                                        .x , ., 3 v. ;
                                                                                                                                                                                .- - . -                                                                                                                                                                                                                                                                                         t.. . ;- . : ..                                                                                                                                                                                                                              - -.. ;
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     - ( .. . .
                                                                                                                                                                                                                                                                                                       .- . .. ( . ;                                                                                                                                                                                                                                                                                                                            . . . .
  .{nn g ,,y.(. . ,

( .. e. .:...- . __, . .. .. .. - ._ _ _. o

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             ~.
                            .- .        s. :.

o.  :

f4- 2.:. e gy,.;  :._.

                                                                                                                             - c                                                                                                                                                                                              -
                                                                                                                                                                                                                                                                                                                                                            .[j:& ;f;                                                                                                          .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ?-                                .

\.

               ~

s  !} (.., _. [. ;-': ..f:f j,,.. ',,l1..l,,'. j. S

                                                                                                                                                                                                                                                            ~ '. . ? . . . ; l ' )g !: '.. N. :.

4 (' s'  : f.. [ s;b:$r.'j ; .....,p.:O

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         .[;                                      ();'                                                 .7c
                                                         -...                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           t .; ,.
                                                                                             '..;y /.J'.;n..
   ) ,,; LQ, a . . .:.'                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          q,L,.,.,....
                                                                                                                                                                                                                              ;3 V. : ,                                           .l.~                                                                                                                                            ,9 ,                                                                                    i                                                                                                                                                                                                                        .. .. .:[,, lw.3.
                                                           ~                                          . . .
                                                                                                                                                                                             ;                                                                                                                                     .-                                Lh..                                                                                                                           , .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          ,}-: r; t ;.;f : .f.,                                                                                                                                                                                              .

b'

- ;

. . ; prn., w. . V ,..

                                                                                                                                                                                                                                                          -- =..                                                                                                                                                                                                                             ...                                                                                                                                                                                                                                                _,a:

3 ' . v. .. ...- 3 3.:.. , , , ( '.;p{4 y; v.q;/ /.;. . y .. .. .. ... m . . .s.w . y. .. . . , ., , . ; ' ,p. .. ,.I

                   .                                                           +                                                                                                                                                                                                                                                                                                                                                                                       il , ,                                                                                                                                                                                                                                                                                           -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .-'). .- -

-i . , . . .

1

                                                                                                          , ,                                                                                                                                                                                      ~
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  'cu                                                                                                                   ;                        4                                                 . .,7
                                                                                                                                                            ' a 4. - ._                                                                                        . ; - 4l:' y n.z, . . -                                    .:.                                                                                                                                                                                                                                                                                                                                                                                                                                                                   .J ;, 7

. :n . o

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  , -. -                                                                                                             .         7. -

u.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         .....+.2                                                                                   .a.,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         ; p. .
                                       ; ; n ;- . . .                                                                                                                                _
                                                                                                                                                                                  , . . ._                                                                                                             . . . . :                                                                                                                                                                .r,.                                                                                                                     .
                                                                                                                                                                                                                                                                                                                             . 3 '.. . :. . ~ ~ ; . . ; . -.

l:

A s ., - . .

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         ,2                                                                                       .-                   ..-                                                        ..                                                     . x u,.

. , . r.. , ..

                                                                                                                                 - .';,g. ..( .                                                                         ;                                                                                          ,(.,... .* .; .,;..',,._

s. 4 4 c.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           . . ..4            :n l'. ,4 , .; .
                                                                                                          .s                                         t                                                                                                           '.. .                                                                                                                                                 ,                           .

g

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 .-                       .s,
                                                                                                                                                                                                                                                                                             ). '. , ,, '; '. ): ,  , ' ,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                .q. l . ' , .s ;p 1
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 ., _- . _ _ ' , .                                                                                                                                                                                                                                       } jlg[f ?l, :_.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ..;.-(
                                            ',',v,',;.,

A, y ' ' _, ','.s r' _ ~ _ . _ . {t_ .,, L ,' + ,m , Vf pl,,, . ' .

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    .[ - .:. j. ., .:
                                                                                            - v; . g 9

• l - . .-

                      . f . ' .,' r. ..#.'                      -                                          '
                                                                                                                          'f ',                                                                                                                                                                                                                                                                         c-f.;,l.                                                              . f .l                                'f                                                                                                                                                                     ', :j                   "-
                                                                                                                                                                                                                                                                                                                                          . ;.1 -                                                                                              j.g.                                                                                                                                                                                                                                                          '.J'                                             a
                                                                                                                                                                                   .f                                                            .

[ . .f ' . 2, . ' .

                                ;. -: , ,; ; ;- ,,,,4..-                                                                                     .f' .-                                t ,; ._ ; s 4y
                                                                                                                                                                                                                                                   , ,, .. ' . '                                                  .t
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            -.s'..* ?..q ,4 4,g r.,e                              f.                  ..
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          .y,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      .-.),.                                  .,ue , : ..                                                                   .
                                                                                                                                                                                                                                                                                                                                                 ,.- .}','          - . _ _ .0 % -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 .l i , g' ' ,

cc .' *"  %:. . . . . . . ,  : ; - ,.

                       ; -         s,?. r.w, ' . ,. .' , ,' , ._ , ;, ; '                                                         ~.^)      .
                                                                                                                                                                ', L . ' j r'.; :{... * ' . ' . , ' . - .                             .                                                                                              t
                                                                                                                                                                                                                                                                                                                                                                                                        -)

l, s., _. ;=. ,.,.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              . , up
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             .g

(;_ .. ~_.:. ., ._

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          -' , )'
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                . . . ;i .; -.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           ..                          2,
                  ;j ;4 . . .(; :.4. . . .,(.                        ,.. ',;. '
                                                                                                               ...f,',                                             s f , ;. f'                                                                                                           J_.,;_,.,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      ' .:. :;_.,[..           w, .                                         '

N,

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   .                                                                                .,,...,                                          ,..                     , .,.ss.,    -
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               . , .., .. ,' .. .:.                      . , . , _ T' : b' :: : -
                 ..p..                                                                                                                                                          _9                               .
                                                                                                                                                                                                                                                                                                                                                 . ?:.;...                                                                                                         . -,' _ , _ ,
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              - ' ;,                                                                            :.7 .:.                                                                                             ' f, '
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            *r 4 ~ ;; ,l. .
                                                                                                                                                                                                                                                                                       .......t.,,'.

* *.. . . .. g  :;_  ; . ,' C Y ...;'.,

i L ;:; .;;9,. , :.'..

        ; .v             . . , .-'.p' b                 ' ;-                                                          , s...,uy.      . :h';.......n.             ; Q,               ..:.                                                      ,..:.,.t,y .y                                                                                           l                                                                             .Q,V ,',., r p,.                                                                                                            : :                                                                                                                                                 n

,p c7 g r ,('

4,. 1,, .g .. b .;. ...' , ' '., . n .p' , . .,!{f,l. .'.,3 k .. ./ 'M fi

                                                                                                                                                                                                                         .'                                    '[
                                                                                                                                                                                                                                                                                                                                                         ;.                                  (' .'{                                                       ',                                                                                                                                                                                                                                                                                  ,f,
                                                                                                                                                                       . : . . . .. e . \.. ~
         .y            ; .c; .- m                                                                     .m .: :                              .x                                                                                                                                                                                                                                                     e-                    ;.%.,n;?.                                                      .            .     ..y                                                                                                                                                                                                                                                                                    , , ,a
           . .r                                                                                                                                                             .
                                                                                                                                                                                                                                                                                                                                                            . v                                                                                                                                                                     . .: ; ; + ;, ..,7s,                                                                  . . ~. . e. .;, :.:,y .a. ,,p m.,::,                                                                                                                                                                    ...

ggy.. /{.:., .. . .. .'. ~ ::R f,..:.qw,s 6'. p .m_d k J ..Qygg. ..

                                                                                                                                                                                                                                                                                                                                                                                                                                         .w                                                                                                                                         ..                                                                                .
                 . .~                                                                                                 ,
                                                                                                                                                                                                                                                                                                                                                                                                                ,mQ7f                                                                                                                                                               .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ... ,g,..mm                                              _... m.f$.g. , $
                                                                                        ., -,w                                                                                .

n n. . . c. _,. , . _- _s , n_. - _, _. a .. ,

E l a 1 J 4 1 1 i 1 1 4 i i 1 i

                                   . pnv-                               - .
                                                                                                                  ; . .c .come turore'tue ;n
                                   .nn nn            ,nu . it e an a m v n oner u                            .,v
                                                                                                                  ,,ns,    n1,,   n,     n ,. . ., ;       .

i g g{ g , 7 ( I. kit $1 b Cill O C'4' 1 'd C l f d il . i ' fd j ,y y g. , p t , ' ,. , ,g 6 i'[> n v $ _n ,2 pj;. nm . m t. : .uu fr pro m p un+ - ; n,,<n,or, ,, rg y , r. , 1943 b 1 E TMLP Taunton Municipal Lighting Plant 55 Weir Street Taunton, Massachusetts 02780

      - _ _ . _            ._ __ _                            _ _ _         _                                                                                        _______ _ __ _}}