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<br />\ <br />, <br /> <br />A-2006-031 <br /> <br />AMENDED AND RESTATED <br />JOINT EXERCISE OF POWERS AGREEMENT <br />RELATING TO THE CALIFORNIA STATEWIDE COMMUNITIES <br />DEVELOPMENT AUTHORITY <br /> <br />THIS AGREEMENT, dated as of June 1, 1988, by and <br />among the parties executing this Agreement (all such parties, <br />except those which have withdrawn in accordance with Section <br />13 hereof, being herein referred to as the .program <br />Participants"): <br /> <br />WITNESSETH <br /> <br />WHEREAS, pursuant to Title 1, Division 7, Chapter.5 <br />of the Government Code of the State of California (the "Joint <br />Exercise of Powers Act"), two or more pUblic agencies may by <br />agreement jointly exercise any power common to the contracting <br />parties; and <br /> <br />WHEREAS, each of the Program Participants is a <br />"public agency" as that term is defined in Section 6500 of the <br />Government Code of the State of California, and <br /> <br />WHEREAS, each of the Program participants is <br />empowered to promote economic development, including, without <br />limitation, the promotion of opportunities for the creation or <br />retention of employment, the stimulation of economic activity, <br />and the increase of the tax base, within its boundaries; and <br /> <br />WHEREAS, a public entity established pursuant to <br />the Joint Exercise of Powers Act is empowered to issue <br />industrial development bonds pursuant to the California <br />Industrial Development Financing Act (Title 10 (commencing <br />with Section 91500 of the Government Code of the State of <br />California)) (the "Act.) and to otherwise undertake Linancing <br />programs under the Joint Exercise of powers Act or other <br />applicable provisions of law to promote economic development <br />through the issuance of bonds, notes. or other evidences of <br />indebtedness, or certificates of participation in leases or <br />other agreements (all such instruments being herein <br />collectively referred to as "Bonds"); and <br /> <br />WHEREAS. in order to promote economic development <br />within the State of California, the County Supervisors <br />Association of California ("CSAC"), together with the <br />California Manufacturers Association, has established the <br />Bonds for Industry program (the "program"). <br />