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25. Instead, the City's electric utility is managed and its rates are set exclusively by <br /> the City Council. Ch. 14439, § 40, Laws of Fla. (1929). <br /> 26. The City's Council Members are elected by the citizens who reside inside the <br /> City's corporate limits. See Ch. 14439, § 9, Laws of Fla. (1929) (the Council is "elected by the <br /> qualified voters of said City."); Part 1, Art. IV, § 4.01, of the City Code ("[a]ny person who is a <br /> resident of the city, who has qualified as an elector of this state, and who registers in the manner <br /> prescribed by law shall be an elector of the city."). <br /> 27. Under Florida law, the rate levels of a municipal electric utility like the City are <br /> not regulated by the PSC because there is an expectation that citizen-ratepayers of a municipal <br /> electric utility have an adequate voice in regulating their own electric rates. This expectation is <br /> based on the premise that elected municipal officials are ultimately responsible to their citizen- <br /> ratepayers for all rate impacts associated with their operation of the municipal utility system. In <br /> other words, if a customer believes that an elected official is not properly managing the <br /> municipal electric utility, then that customer can vote the elected official out of office. <br /> 28. However, because approximately 65% of the City's electric customers are Non- <br /> Resident Customers located outside of the City, a significant majority of the City's electric <br /> customers cannot vote in City elections, and thus have no voice in electing those officials that <br /> manage the City's electric utility system and set their electric rates. <br /> 29. Although the City is not subject to the PSC's rate-setting jurisdiction, the City is <br /> still required by law to set rates that are reasonable. The special act creating the City provides <br /> that the "City Council may by ordinance make reasonable regulations as to the use of any public <br /> utility and may fix reasonable rates for service furnished by public utilities to consumers." § 40, <br /> Ch. 14439, Laws of Fla. (1929) (emphasis added). A copy of the special act is attached hereto as <br /> 6 <br /> 71 <br />