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S.F. PRESENTATION OF PROCLAMATION DESIGNATING APRIL 16, 2010 AS <br />INDIAN RIVER TEA PARTY DAY OF AWARENESS <br />Commissioner Davis read and presented the Proclamation to Toby Hill, Chairman, Indian <br />River Tea Party. <br />The Chairman called a break at 9:36 a.m. and reconvened the meeting at 9:46 a.m., with <br />all members present. <br />5.G. PRESENTATION BY GLENNHERANAND DR. FAHERTY ON CITY OF VERO <br />BEACH ELECTRIC SYSTEM <br />(Clerk's Note: This item was heard following Item 8. Consent Agenda and is placed here <br />for continuity.) <br />Dr. Stephen Faherty used a PowerPoint presentation to review the situation whereby <br />County residents living outside of the Vero Beach City Limits, whose electric service is provided <br />by the City of Vero Beach Electric Utility, as well as other municipal utility customers, are <br />paying much higher electric utility rates than individuals served by Florida Power & Light <br />(FPL). <br />Glenn Heran presented an interactive PowerPoint (on file) to which he input several <br />different fair market values for the City of Vero Beach Electric System, to outline various <br />scenarios describing the benefits of selling the system to FPL. He reported that a copy of his <br />presentation could be obtained by e -mailing him at glenn@hfbllc.com. <br />Discussion ensued among Commissioners, Dr. Faherty, and Mr. Heran on how the <br />County could help provide relief to the County residents paying Vero Beach Electric; the City's <br />possible motives for holding onto the Utility; how switching to FPL from Vero Electric could be <br />4 <br />April 13, 2010 <br />