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RESOLUTION NO. 2015- <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, URGING THE FLORIDA LEGISLATURE TO <br />ADOPT AND THE GOVERNOR RICK SCOTT TO <br />SUPPORT HOUSE BILL 579 REGULATING MUNICIPAL <br />POWER; AND DIRECTING CERTIFIED COPIES OF THIS <br />RESOLUTION TO BE PROVIDED TO VARIOUS <br />.t=tTJi=C1 <br />OFFICIALS. <br />WHEREAS, The Florida Municipal Power Agency is a Joint Use;Action Agency created <br />f.: <br />pursuant to a series of inter -local agreements with Florida municipalities4oy=;finance, acquire, <br />contract, manage, and operate its own electric power $;projects or jointly accotnplish,the same <br />purposes with other public or private utilities, and <br />f :r <br />WHEREAS, The Florida Municipal Power Agency*,governed by a Board of Directors, <br />with one Board member appointed by each member municipality. The Board decides all issues <br />concerning each project except for the A114Requirements Projet ;The All Requirements Project <br />is governed by an Executive Committee `'`with;_ each All Requirements Project member <br />vw <br />municipality that purchases power from the prdject.� appointing one Executive Committee <br />member, and <br />Or <br />WHEREAS, most4 f tl ose • who serve 'on the Board of Directors and the Executive <br />Committee are not elected by the ,voters of the 'communities to which the Florida Municipal <br />WHEREAS, the Joint`Legiss1ativeAuditing Committee received Report No. 2015-165 on <br />March 30, 201-5;"regaiding,.the Florida Municipal Power Agency, which contains findings and <br />recommendations and ~. <br />WHEREAS, many of ;the Florida Municipal Power Agency's hedging activities were <br />found to be inconsistent withhaother joint use action agencies, leading to net losses of $247.6 <br />million over the past02 fiscalears, and <br />WHEREAS, Vaal of the Florida Municipal Power Agency's personnel and payroll <br />administration activities may negatively affect future rates, including the Chief Executive <br />Officer's employment contract providing for severance pay and lifetime benefits even if <br />employment is terminated for cause, and <br />• Power Agency serves; andr <br />WHEREAS, the Florida Municipal Power Agency did not consistently follow its own <br />procurement and competitive selection policies, one of which may increase the cost of bond <br />issues, and <br />Page 1 of 3 <br />137 <br />