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used solely for transportation system improvements. <br />F. Santa Ana and Orange do now desire to establish <br />a joint powers agency to establish and maintain a transportation <br />system improvements program for the TSIP Area to control the <br />expenditure of development fees for transportation system improve- <br />ments within said TSIP Area. <br />WHEREFORE, the parties hereto do hereby agree as follows: <br />1. Purpose <br />This Agreement is made pursuant to the provisions of <br />Article 1, Chapter 5, Division 7, Title 1 of the Government Code <br />of the State California (commencing with Section 6500, hereinafter <br />called "Act ") relating to the joint exercise of powers to public <br />agencies. Santa Ana and Orange each possess the powers referred <br />to in the recitals hereof. The purpose of this Agreement is to <br />exercise such powers by jointly developing and maintaining a pro- <br />gram for transportation system improvements in the TSIP Area and <br />controlling the expenditure of development fee revenues for trans- <br />portation improvements within said TSIP Area. The foregoing <br />purposes will be accomplished and common powers exercised in the <br />manner hereinafter set forth. <br />2. Transportation System Improvement Authority <br />A. Creation of Authoritv <br />Pursuant to Sections 6506 and 6507 of the Act, there <br />is hereby created a public entity to be known as the "Transportation <br />System Improvement Authority" (hereinafter called the "Authority "). <br />Said Authority shall be a public entity separate and apart from the <br />parties hereto. Its debts, liabilities and obligations shall not <br />constitute debts, liabilities or obligations of the parties hereto. <br />-2- <br />