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FPL, OUC, FMPA,the bond trustees, and if needed others to consent to allowing <br /> representatives of the Town and the County to attend such discussions; <br /> b. Negotiating with OUC and FMPA toward reducing the City's costs under its <br /> long-term power supply arrangements with those utilities. In this regard, the City <br /> will ask OUC and FMPA to consent to allowing representatives of the Town and <br /> the County to attend such discussions; <br /> C. Completing the Rate Study, which includes a cost-of-service study and <br /> evaluations of other financial and rate measures, with Public Resources <br /> Management Group, Inc.; <br /> d. Conducting and completing the anticipated study of the Vero Beach Electric <br /> Utility system with respect to efficiency, optimization, and potential cost-saving <br /> measures, which study is expected to begin in January 2015 and expected to be <br /> completed in the summer of 2015; and <br /> e. Continuing the City's efforts to identify and implement additional cost control <br /> and cost reduction measures to bring lower electric rates to its customers. <br /> 5. The City will continue to pursue conducting a referendum on the creation of an <br /> independent utility authority, and will agree to work in good faith with the Town and the County <br /> to reach agreement on the details of that authority, including its powers, structure, and <br /> composition. <br /> 6. No later than February 18, 2015,the City will provide the Town, the County and <br /> the mediator with a report on the status of efforts to lower rates (including but not limited to the <br /> status of its efforts to sell its electric utility system to FPL) and to create an independent utility <br /> authority. This report will be provided by the City. <br /> 7. This Agreement shall not preclude the County from moving forward with its <br /> petition for declaratory statement in Docket No. 140142-EM, which is currently scheduled to be <br /> considered by the Florida Public Service Commission on February 3, 2015. <br /> 8. Unless the Town and the City agree otherwise to continue abatement of the <br /> lawsuit, and following declaration of impasse by the Mediator with respect to the Town and the <br /> City,the Town will file an unopposed motion to lift the abatement of the lawsuit no earlier than <br /> March 2, 2015. <br /> [Signatures on following page] <br /> 2 <br /> 141 <br />