Thomas Barnett, an executive with Constellation Development, the firm that will own and operate the 80-megawatt cogeneration power plant proposed for the Broad Mountain north of Hauto, told the Panther Valley School Board last night the company will pay $4 million in taxes to the district over the 20-year life span of the plant.

Barnett said the firm will begin paying more than $100,000 in taxes to the school district annually, beginning in 1992.

He said the average age of all power plants across the state is 40 years, adding that Constellation has financial obligations with bankers and actual contracts for 20 years.

Barnett said the plant will generate a $2 million payroll in the first year.