Maintaining sound finances helps FMPA provide competitively priced power for its member communities. Our financial information is publicly available on our website for both investors and interested members of the public.
The Florida Interlocal Cooperation Act of 1969 authorizes local government to work together. These governments are authorized to enter 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 in 1978 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.
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.