FMPA was created in 1978 through an Interlocal Agreement signed by the governing bodies of municipal electric utilities in Florida. FMPA has 31 members as of Sept. 30, 2012.
FMPA is authorized to undertake joint power projects
The Florida Interlocal Cooperation Act of 1969 authorizes local governments to enter together into an agreement to cooperatively and jointly exercise the powers that each local government has individually, and to create a separate legal entity by interlocal agreement to carry out the purpose of their joint action. FMPA was formed as one such governmental legal entity. FMPA is authorized under Florida law to undertake specific joint electric projects, provide related services, and to issue tax-exempt bonds and other obligations to finance the costs of such projects.
Each project is independent from the others
FMPA was established as a project-oriented agency. Under this structure, each member has the option of whether or not to participate in a project. Members may join more than one project; however, each project is financially independent from the others, so no revenues or funds available from one project can be used to pay the costs of another project. Each project has its own credit rating.
FMPA supplies more than 40% of its members’ power needs
FMPA has five power supply projects. As of Sept. 30, 2012, FMPA supplied all the power needs for 14 of its members and some of the power needs for six of its members. Overall, FMPA supplies more than 40% of its members’ total power needs.
Information on FMPA’s website is not intended to be the basis of, and should not be relied upon in making an investment in the Florida Municipal Power Agency.
Each document contained in the Investor Relations section of the website is marked with a dated date and speaks only as of that dated date. Readers are cautioned not to assume that any information has been updated beyond the dated date unless a document expressly states that it constitutes an update of a specific portion of a document. FMPA expressly disclaims any duty to provide an update of any document contained in this section.
Documents in this section make forward looking statements by using forward-looking words such as may, will, should, expects, believes, anticipates, estimates or others. You are cautioned that forward-looking statements are subject to a variety of uncertainties that could cause actual results to differ from the projected results. Those risks and uncertainties include general economic, business and operating conditions, receipt of funding grants, and various other factors that are beyond FMPA’s control.
Because FMPA cannot predict all factors that may affect future decisions, actions, events, or financial circumstances, what actually happens may be different from what is included in forward-looking statements.
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