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fund the net revenue requirements of the WSI systems through fiscal year 2014 , whereas the <br /> County ' s utility rates are sufficient to ensure the continuing financial health of utility operations . <br /> Dr. Faherty and Mr . Heran concluded that it would be beneficial for the County to provide <br /> consolidated water and sewer service for the City, County, Town of Indian River Shores, and the <br /> South Beach area. <br /> Extended discussion ensued wherein Dr. Faherty and Mr . Heran responded to questions <br /> and comments from the Board on the presentation data. Topics included, but were not limited to , <br /> the benefits that the proposal would generate for the City and ratepayers ; the fair market value of <br /> the City ' s utilities system ; the rate sufficiency of the City and County; the future of the City ' s <br /> utility due to declining customer base ; the need for capital improvements ; and current and <br /> projected rates for utility customers of all the municipalities . <br /> Commissioner O ' Bryan and Chairman Solari acknowledged and commended the City ' s <br /> contributions for the past provision of water services . <br /> Commissioners , staff, and Messrs . Faherty and Heran agreed that the regionalization <br /> model seemed like a beneficial move for the City, because utility customers would have lower <br /> rates, the risk of losing South Beach customers would be eliminated, and the City ' s debt would <br /> be assumed by the County . <br /> Administrator Baird explained that a similar model had been successfully followed in the <br /> past, when the County purchased the City of Sebastian ' s utility system for its debt . He was <br /> confident that the plan proposed by Messrs . Faherty and Heran could be successfully and <br /> speedily accomplished , if the City entered into an agreement with the County . <br /> Vice Chairman Wheeler, while acknowledging that the model sounded good, spoke to the <br /> necessity to consider Dr. Faherty and Mr. Heran ' s proposal in detail . He pointed out that, among <br /> other things , the Board needed to consider infrastructure and whether the City might be able to <br /> March 8 , 2011 13 <br />