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Oscar Nissen, Advance Team Manager, disclosed that the international group, Up With <br />People, would be presenting two concerts at the Vero Beach High School Performing Arts <br />Center on March 1 and 2, 2013 at 7:30 p.m., with the proceeds going to Vero Beach High <br />School's Tnbe Pnde Program, the Daisie Hope Center, and the Gifford Youth Activity Center. <br />He said that further information can be found at www.upwithpeople.org. <br />5.E. PRESENTATION BY AMY BRUNJES, EXTERNAL AFFAIRS MANAGER, <br />FLORIDA POWER AND LIGHT - UPDATE ON CITY OF VERO BEACH <br />ELECTRIC SYSTEM SALE <br />Amy Brunjes, External Affairs Manager, Florida Power & Light, through a PowerPoint <br />Presentation (copy on file), updated the Board on the prospective sale of the City of Vero <br />Beach's (the City's) Electric Utility to Florida Power and Light (FPL) She presented a cost - <br />benefit analysis, and relayed that on January 8, 2013, FPL presented the City with a formal offer <br />through an Asset Purchase and Sale Agreement. She reviewed the terms of the Agreement, and <br />reported that the City Council will. be holding a Workshop Meeting on February 12, 2013 and <br />voting on February 19, 2013 the public referendum will be on March 12, 2013. Ms. Brunjes <br />thanked the Board for considering Commissioner Solari's proposed resolution supporting the <br />electric utility sale (see Item 14.D.1). <br />Responding to questions from the Board, Ms. Brunjes relayed the following: <br />• Special economic development utility rates will be available for qualified <br />businesses. <br />• FPL offers beneficial customer programs in addition to the lowest electric rates in <br />the State. <br />• The regulatory approvals are still pending with no problems anticipated; however, <br />neither FPL nor the City will be penalized if there is a glitch. <br />• FPL's rate increase and 6% franchise fee has been factored into FPL's analysis. <br />RI 143 PG 441 <br />February 5, 2013 4 <br />