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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 Reach 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 />207 <br />