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ORDINANCE NO. 2007- of 5 <br />AN ORDINANCE GRANTING TO FLORIDA POWER & LIGHT <br />COMPANY, ITS SUCCESSORS AND ASSIGNS, AN <br />ELECTRIC FRANCHISE; IMPOSING PROVISIONS AND <br />CONDITIONS RELATING THERETO; PROVIDING FOR <br />MONTHLY PAYMENTS TO INDIAN RIVER COUNTY; <br />PROVIDING FOR SEVERABILITY; PROVIDING FOR REPEAL <br />OF OTHER CONFLICTING ORDINANCES AND <br />RESOLUTIONS; PROVIDING FOR INCLUSION IN THE CODE <br />OF ORDINANCES OF INDIAN RIVER COUNTY; PROVIDING <br />FOR FILING WITH THE DEPARTMENT OF STATE; AND <br />PROVIDING FOR AN EFFECTIVE DATE. <br />BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA, as follows: <br />PART I: CREATION OF PART II OF CHAPTER 312, "RIGHTS-OF-WAY", OF THE <br />CODE OF INDIAN RIVER COUNTY, FLORIDA TO BE KNOWN AS "GRANT OF <br />ELECTRIC FRANCHISE TO FLORIDA POWER & LIGHT COMPANY." <br />SECTION 1. LEGISLATIVE FINDINGS. <br />A. The Board of County Commissioners of Indian River County ("County") <br />recognizes that the citizens of the County need and desire the benefits of electric service; <br />and <br />B. The provision of such service requires substantial investments of capital and <br />other resources in order to construct, maintain and operate facilities essential to the <br />provision of such service in addition to costly administrative functions, and the County <br />does not desire to undertake to provide such services; and <br />C. Florida Power & Light Company ("FPL") is a public utility which has the <br />demonstrated ability to supply such services; and <br />D. The County adopted Resolution No. 77-104, effective October 19, 1977, that <br />granted a franchise to FPL for 30 years, ending October 18, 2007. <br />E. FPL and the County desire to enter into a new franchise agreement providing <br />for the payment of fees to the County in exchange for the nonexclusive right and privilege <br />of supplying electricity and other services throughout the County free of competition from <br />the County, pursuant to certain terms and conditions set forth in this Ordinance; <br />