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Attorney Reingold concluded the activities of the FMPA listed in the Auditor <br /> General's findings was a serious matter that affects all citizens in the State of <br /> Florida. He wanted the Board to focus on a statewide comprehensive solution <br /> and strategy to this problem and recommended hiring a firm to assist the <br /> County in getting out this statewide message. He suggested the Board call <br /> upon the Florida Legislature to conduct hearings and he believed the Florida <br /> Public Service Commission (PSC) should have oversight of the FMPA. He <br /> mentioned State Representative Debbie Mayfield has legislation in bill drafting <br /> in regards to the PSC governing the FMPA. <br /> The Board of County Commissioners shared their concerns on the FMPA's <br /> inconsistency, and the risks taken in excess of industry practices' and County <br /> Administrator Baird pointed out the biggest part of FMPA's demand charge <br /> was debt service. <br /> Discussion ensued with remarks from the Board on the FMPA's magnitude of <br /> loss from bad decisions, interest rate swaps, salaries, and state requirements for <br /> meal and vehicle allowances. <br /> Chairman Davis opened the Public Hearing. <br /> Mr. John McCord encouraged the Board to contact their legislative delegations <br /> to make changes and was disgusted on the Auditor General's Findings <br /> regarding FMPA's operations. He wanted to see the City of Vero Beach (the <br /> r.. City) seek damages on behalf of its customers and demand that its contracts <br /> with FMPA be annulled. <br /> Dr. Stephen Faherty discussed the Auditor General's Findings and pointed out <br /> there were items that should have been picked up in a regular audit. <br /> Harry Howle, 765 Broadway Street, stated the Florida Municipal Electric <br /> Authority was another agency that needs to be audited. <br /> Pilar Turner spoke on behalf of herself and made remarks on the FMPA's <br /> interest rate swaps. She pointed out FMPA, as part of a governmental entity, <br /> had no operational audit within 37 years of the FMPA's history. She affirmed <br /> that FMPA's gross mismanagement was being passed on to the ratepayers. <br /> Glenn Heran did not believe PSC control would solve the inherent <br /> inefficiencies of monies in the FMPA. He asked the Board to take some <br /> specific action in respect to promoting legislation by: 1) request auditor go <br /> back and look at the Fair Market Value of the underlining generation assets of <br /> the FMPA; and 2) amend the contracts to allow a member city to exit the <br /> FMPA through an agreement with the FMPA members or legislatively. <br /> Special Call Meeting Page 2 <br /> January 28,2015 <br />