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JOINT EXERCISE OF POWERS AGREEMENT <br />THIS AGREEMENT, dated July 20, 2021, by and among the SAN BERNARDINO VALLEY <br />MUNICIPAL WATER DISTRICT, a municipal water district that is duly organized and existing under <br />and by virtue of the laws of the State of California (the "San Bernardino Valley Municipal Water <br />District"), the SAN BERNARDINO VALLEY WATER CONSERVATION DISTRICT, an independent <br />special district that is organized and existing under and by virtue of the laws of the State of California (the <br />"San Bernardino Valley Water Conservation District"), the YUCAIPA VALLEY WATER DISTRICT, a <br />county water district that is organized and existing under and by virtue of the laws of the State of <br />California (the "Yucaipa Valley Water District"), and the other parties set forth in Exhibit A as it may be <br />revised from time to time, each a public agency that is organized and existing under and by virtue of the <br />laws of the State of California (the "Additional Members"). <br />DECLARATION OF PURPOSE <br />A. Chapter 5 of Division 7 of Title 1 of the California Government Code, Government Code <br />sections 6500 et seq., (the "Act") authorizes the San Bernardino Valley Municipal Water District, the <br />Yucaipa Valley Water District and the Additional Members to create a joint exercise of powers entity <br />which has the power to exercise any powers common to the San Bernardino Valley Municipal Water <br />District, the Yucaipa Valley Water District and the Additional Members and to exercise additional powers <br />granted to it under the Act. This Agreement creates such an agency, which shall be known as the Upper <br />Santa Ana River Watershed Infrastructure Financing Authority (the "Authority") for the purposes and to <br />exercise the powers described herein. <br />B. The Members have determined to develop a means to facilitate the financing of the <br />implementation of a coordinated regional water infrastructure program to provide a more reliable and <br />affordable water supply to the Members and their respective rate payers, consisting of water -related <br />capital improvement projects undertaken by the Members that are expected to benefit public agencies <br />located within the vicinity of, or receiving water from, the Santa Ana River watershed (the "Upper Santa <br />Ana River Watershed Infrastructure Program"). <br />C. The Members, through the development and implementation of the Upper Santa Ana <br />River Watershed Infrastructure Program (also known as Watershed Connect), aim to invest in projects to <br />modernize aging infrastructure and to address issues facing the region and its Members, such as the <br />impacts of climate change, drought and the need for cooperative water management to assure safe and <br />reliable drinking water and environmental restoration. <br />D. The Members are each authorized to plan for, design, construct, operate, maintain, repair <br />and replace water -related facilities and to buy, sell, lease and use property and to incur indebtedness for <br />public purposes pursuant to the California Water Code, the California Government Code and other laws <br />of the State of California. <br />E. The Members desire to use any and every power common to them and the other powers <br />granted to the Authority pursuant to the Act for the purpose of financing the costs of the various projects <br />comprising Upper Santa Ana River Watershed Infrastructure Program. <br />F. Article 4 of the Act, Government Code sections 6584 et seq., (known as the "Marks -Roos <br />Local Bond Pooling Act of 1985") authorizes and empowers joint powers agencies like the Authority to <br />issue bonds and to purchase bonds issued by, or to make loans to, the Members for financing public <br />capital improvements, working capital, liability and other insurance needs, or projects whenever there are <br />4845-6031-7422v12/200315-0002 <br />