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Attachment 1 <br />Page 1 of 14 <br /> <br />Approved [insert date] <br />JOIT EXERCISE OF POWERS AGREEMET RELATIG TO <br />AD CREATIG THE <br /> <br />PEISULA CLEA EERGY AUTHORITY <br /> <br />OF <br /> <br />SA MATEO COUTY <br /> <br /> <br />This Joint Exercise of Powers Agreement, effective on the date determined by Section 2.1, is made <br />and entered into pursuant to the provisions of Title 1, Division 7, Chapter 5, Article 1 (Sections <br />6500 et seq.) of the California Government Code relating to the joint exercise of powers among the <br />Parties set forth in Exhibit B, and establishes the Peninsula Clean Energy Authority (“Authority”), <br />is by and between the County of San Mateo (“County”) and those cities and towns within the <br />County of San Mateo who become signatories to this Agreement, and relates to the joint exercise <br />of powers among the signatories hereto. <br /> <br />RECITALS <br /> <br />A. The Parties share various powers under California law, including but not limited to the <br />power to purchase, supply, and aggregate electricity for themselves and customers within <br />their jurisdictions. <br /> <br />B. In 2006, the State Legislature adopted AB 32, the Global Warming Solutions Act, which <br />mandates a reduction in greenhouse gas emissions in 2020 to 1990 levels. The California <br />Air Resources Board is promulgating regulations to implement AB 32 which will require <br />local governments to develop programs to reduce greenhouse gas emissions. <br /> <br />C. The purposes for entering into this Agreement include: <br /> <br />a. Reducing greenhouse gas emissions related to the use of power in San Mateo <br />County and neighboring regions; <br /> <br />b. Providing electric power and other forms of energy to customers at a competitive <br />cost; <br /> <br />c. Carrying out programs to reduce energy consumption; <br /> <br />d. Stimulating and sustaining the local economy by developing local jobs in <br />renewable energy; and <br /> <br />e. Promoting long-term electric rate stability and energy security and reliability for <br />residents through local control of electric generation resources. <br /> <br />D. It is the intent of this Agreement to promote the development and use of a wide range of <br />renewable energy sources and energy efficiency programs, including but not limited to <br />7.A - Page 8