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