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<br />ORIGINAL <br /> <br />AMENDED AND RESTATED <br />JOINT EXERCISE OF POWERS AGREEMENT <br />RELATING TO THE CALIFORNIA STATEWIDE COMMUNITIES <br />DEVELOPMENT AUTHORITY <br /> <br />THIS AGREEMENT, dated as of June 1,1988, by and <br />among the parties executing this Agreement (all such parties, <br />except those which have withdrawn in accordance with Section <br />13 hereof, being herein referred to as the "Program <br />Participants"): <br /> <br />WITNESSETH <br /> <br />WHEREAS, pursuant to Title 1, Division 7, Chapter 5 <br />of the Government Code of the State of California (the "Joint <br />Exercise of Powers Act"), two or more public agencies may by <br />agreement jointly exercise any power common to the <br />contracting parties; and <br /> <br />WHEREAS, each of the Program Participants is a <br />"public agency" as that term is defined in Section 6500 of the <br />Government Code of the State of California, and <br /> <br />WHEREAS, each of the Program Participants is <br />empowered to promote economic development, including, <br />without limitation, the promotion of opportunities for the <br />creation or retention of employment, the stimulation of <br />economic activity, and the increase of the tax base, within its <br />boundaries; and <br /> <br />WHEREAS, a public entity established pursuant to <br />the Joint Exercise of Powers Act is empowered to issue <br />industrial development bonds pursuant to the California <br />Industrial Development Financing Act (Title 10 (commencing <br />with Section 91500 of the Government Code of the State of <br />California)) (the "Act") and to otherwise undertake financing <br />programs under the Joint Exercise of Powers Act or other <br />applicable provisions of law to promote economic development <br />through the issuance of bonds, notes, or other evidences of <br />indebtedness, or certificates of participation in leases or <br />other agreements (all such instruments being herein <br />collectively referred to as "Bonds"); and <br /> <br />WHEREAS, in order to promote economic <br />development within the State of California, the County <br />Supervisors Association of California ("CSAC"), together with <br />the California Manufacturers Association, has established the <br />Bonds for Industry program (the "Program"). <br />