25A - AGMT - CIVIC CENTER JPA - Laserfiche WebLink

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NOW, THEREFORE, IT IS AGREED AS FOLLOWS: SECTION 1. Purpose. This Restated Agreement is made pursuant to provisions of Article 7 Chapter 5, Division7, Title 1 of the Government Code of the State of California (commencing with Section 6500, hereinafter called "Act ") relating to the joint exercise of powers common to the City and the County. The City and County each possess the powers referred to in the recitals hereof. The purpose of this Restated Agreement is to exercise such powers by acquiring, constructing, maintaining, operating and leasing public improvements with facilities and appurtenances necessary or convenient therefor, with the further purpose to provide electric utility service, steam and chilled water as permitted by law within the Campus, as defined in Section 16. Such purpose will be accomplished, and said common powers exercised, in the manner hereinafter set forth. SECTION 2. Term. This Restated Agreement shall become effective as of the date hereof and shall continue in full force and effect for a period of ten (10) years from the date hereof and shall automatically renew for ten (1.0) year increments thereafter until terminated by either Party as set forth herein. This Restated Agreement shall not be terminated until such time as all revenue bonds herein provided for, and issued pursuant hereto or pursuant to the Prior Agreement, and the interest thereon shall have been paid in full or adequate provision for such payment shall have been made as set forth in the proceedings for the issuance thereof. After such time, this Restated Agreement may be terminated by either Party upon 180 day written notice. SECTION 3. Authority. A_ Creation of the Authority. Pursuant to Section 6506 of the Act, there is hereby created a public entity separate from the Parties hereto, to be known as the "Orange County Civic Center Authority" ( "Authority ") and said Authority shall be a public entity separate and apart from the City and the County. Its debts, liabilities and obligations do not constitute debts, liabilities or obligations of any Party to this Restated Agreement. B. Governing Board. The Authority shall be administered by a governing board of five members, each serving in their individual capacities as members of the governing board. Two members, who shall be County employees, are to be appointed by the County Executive Officer. Two members, who shall be City 25A -4