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153 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 RESOLUTION NO. A resolution of the Mayor and City Commission of the City of South Miami Florida, allowing the City Manager to explore self funded sources for the City of South Miami to finance the construction of underground high voltage transmission lines to connect the Turkey Point power plant to the downtown Miami substation, within the City, in order to effectuate savings for the City of South Miami and generate revenue on a lease of the utilities to Florida Power and Light; providing for an effective date. WHEREAS, Florida Power and Light ( "FPL ") desires to place overhead high voltage transmission lines through Miami -Dade County, specifically on Dixie Highway ( "US 1") between Turkey Point and the Downtown Miami Substation; and WHEREAS, FPL would like to charge $13 -18 million per mile to construct said underground high voltage transmission lines; and WHEREAS, the City could procure a more competitive price than that offered by FPL for the construction of said underground high voltage transmission line; NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA, AS FOLLOWS: Section 1. That the City Commission hereby directs the City Manager to explore self funded sources for the City of South Miami to finance the construction of underground high voltage transmission lines to connect the Turkey Point nuclear plant to the Downtown Miami Substation, within the City, in order to effectuate savings for the City of South Miami and generate revenue on a lease of the utilities to FPL. Section 2. This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this 9th day of March, 2010. ATTEST: CITY CLERK READ AND APPROVED AS TO FORM AND SUFFICIENCY: Laurence Feingold, Office of City Attorney APPROVED: MAYOR COMMISSION VOTE: Mayor Stoddard: Vice Mayor Newman: Commissioner Palmer: Commissioner Beasley: Commissioner Harris: WAMy Documents\resolations \Resolution Underground Lines Funding Sources.stoddard.doc m