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generated within its jurisdictional boundaries, as well as to create and issue Franchise agreements <br />for such activities; and <br />S. WHEREAS the Agencies have issued Revenue Bonds to pay for the purchase of <br />these Facilities in March 2000. <br />NOW, THEREFORE BE IT RESOLVED that the Agencies do hereby establish the <br />South Bayside Waste Management Authority for the purpose of owning, financing, <br />administering, and operating regional Facilities and for administering rates for Solid Waste and <br />diversion programs and do hereby agree as follows: <br />ARTICLE 1. DEFINITIONS <br />1.1 Definitions. Unless the context otherwise requires, capitalized terms used in this <br />Agreement will have the meanings specified in Exhibit C to this Agreement, which is attached <br />hereto and incorporated by reference. <br />ARTICLE 2. PURPOSE <br />2.1 Purpose. This Agreement is entered into pursuant to the Act to provide for the <br />exercise of powers as provided therein, and to provide for the joint exercise of certain powers <br />common to the Agencies. The purpose of this Agreement is to provide for the joint ownership, <br />financing, administration, and operation of the Facilities, and for the joint planning, adoption, <br />financing, administration, management, review, monitoring, enforcement, and reporting of Solid <br />Waste, Recyclable Material, and Plant Material Collection activities in the Service Area. By <br />entering this joint powers authority, the Agencies earn economic benefits not realized when using <br />alternate means of Transferring and Transportation Processing of Solid Waste, Recyclable <br />Material and Plant Materials and Disposal of Solid Waste. Further, the establishment of this joint <br />powers authority provides for the economic viability and utilization requirement of the Facilities. <br />ARTICLE 3. CREATION OF AUTHORITY <br />3.1 Creation. Pursuant to the Act, the Agencies hereby create and establish a public <br />entity to be known as the "South Bayside Waste Management Authority" (SBWMA). <br />3.2 Separate Entity. The SBWMA shall be a public entity separate from the <br />Agencies, and separate from the SBTSA. <br />3.3 Assets, Rights, and Liabilities. The assets, rights, debts, liabilities, and <br />obligations of the SBWMA shall not constitute assets, rights, debts, liabilities, or obligations of <br />any of the Agencies or the SBWMA. However, nothing in this Agreement shall prevent any <br />Agency from separately contracting for, or assuming responsibility for, specific debts, liabilities, <br />or obligations of the SBWMA, provided that both the Board and that Agency approve such <br />contract or assumption. <br />ARTICLE 4. TERM <br />4.1 Effective Date. This First Amended Agreement shall be dated as of, and become <br />effective on, the date of its execution by the last of the Founding Members (Effective Date). <br />Page 3 <br />