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(B) The City Council expressly funds that the purchase, sale and transfer of the Sebastian Utility System to the County resulting in the provision of a County -owned and operated water and wastewater service constitutes a public purpose and is in the best interest of the health, safety and welfare of the City and the inhabitants thereof. Further, the City council expressly funds that the incorporation of the Sebastian Utility System into the County water and sewer system will provide a greater public use and increased public benefit than the existing uses. SECTION 3. PUBLIC INTEREST DETERMINATION OF PURCHASE. In consideration of the statement prepared by the City Manager and filed at this public hearing set to consider the purchase and sale of the Sebastian Utility System in conformance with Section 180.301, Florida Statutes, the City Council hereby considers the following: (A) The most recently available income and expense statement of the Sebastian Utility System; (B) The most recently available balance sheet for the Sebastian Utility System listing the assets and liabilities showing the amount of contributions -in -aid -of -construction and the accumulated depreciation thereon; (C A statement of the existing rate base of the Sebastian Utility System for regulatory purposes; (D) The physical condition of the subject facilities; (E) The reasonableness of the consideration to be exchanged between the City and the County and the terms of the interlocal agreement which will govern the transfer of the Sebastian Utility System from the City to the County; (F) The impacts of the contemplated transfer on utility customers now served by the City as well as utility customers served by the County, both positive and negative; (G) Any additional investment required and the ability and willingness of the County to make that investment; (H) The alternatives to the contemplated purchase, sale and transfer and the 7