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8.A. - Page 54 of 73 Attachment D San Carlos. San Carlos adopted a Climate Action Plan on October 12, 2009 that contained strategies to reduce emissions 15% below 2005 levels by 2020 and 35% below 2005 levels by 2030. Belmont. Belmont adopted a Climate Action Plan on November 14, 2017 that contained strategies to reduce emissions 15% below 2005 levels by 2020 and 50% below 2005 levels by 2035. West Bay. West Bay has not adopted a climate action plan, however West Bay management takes climate factors into consideration during planning and operations. The Participating Members are unable to predict the impact that any current or future laws and regulations related to climate change, if adopted, and the effects of climate change will have on the revenues of the Participating Members. However, such effects could be material. Limitations on Remedies Available; Bankruptcy The enforceability of the rights and remedies of the Owners and the obligations of any of the Participating Members may become subject to the following: the federal bankruptcy code and applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or affecting the enforcement of creditors' rights generally, now or hereafter in effect; equitable principles which may limit the specific enforcement under State law of certain remedies; the exercise by the United States of America of the powers delegated to it by the Federal Constitution; and the reasonable and necessary exercise, in certain exceptional situations, of the police power inherent in the sovereignty of the State and its governmental bodies in the interest of servicing a significant and legitimate public purpose. Bankruptcy proceedings, or the exercising of powers by the federal or State government, if initiated, could subject the Owners to judicial discretion and interpretation of their rights in bankruptcy or otherwise and consequently may entail risks of delay, limitation, or modification of their rights. Limited Obligations The SBSA Bond Payments and Authority Bond Payments are limited obligations of the Participating Members payable solely from and secured solely by the Net Revenues and Surplus Revenues, as applicable, of their respective wastewater systems. If for any reason, any Participating Member does not have Net Revenues or Surplus Revenues available in an amount sufficient to make its SBSA Bond Payments or Authority Bond Payments, the Participating Member will not be obligated to utilize any other of its funds to make SBSA Bond Payments or Authority Bond Payments. The obligation of the Participating Members to pay the SBSA Bond Payments and Authority Bond Payments does not constitute an obligation of any Participating Member for which the Participating Member is obligated to levy or pledge any form of taxation or for which the Participating Member has levied or pledged any form of taxation. Each of the Participating Members has covenanted to establish rates and charges for its wastewater system to yield Gross Revenues or Surplus Revenues, as applicable, sufficient to make the SBSA Bond Payments and Authority Bond Payments. The obligation of each Participating Member to pay SBSA Bond Payments or Authority Bond Payments does not constitute a debt of that Participating Member or the State or any of its political subdivisions, and does not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. .: