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significant public benefits, as determined by the Authority. The Marks -Roos Local Bond Pooling Act of <br />1985 further authorizes and empowers the Authority to sell bonds so issued or purchased to public or <br />private purchasers at public or negotiated sale. <br />G. The Members desire to explore all financing options to fully implement the Upper Santa <br />Ana River Watershed Infrastructure Program, including, but not limited to, entering into one or more loan <br />agreements with the United States Environmental Protection Agency under its Water Infrastructure <br />Finance and Innovation Act program and other funding options, including the use of the Marks Roos <br />Local Bond Pooling Act of 1985. <br />TERMS OF AGREEMENT <br />Section 1. Definitions. Unless the context otherwise requires, the terms defined in this <br />Section 1 shall for all purposes of this Agreement have the meanings herein specified. <br />"Act" shall mean Articles 1, 2 and 4 of Chapter 5 of Division 7 of Title 1 of the California <br />Government Code, Government Code sections 6500 et seq., as amended. <br />"Additional Members" shall mean a Member other than the San Bernardino Valley Municipal <br />Water District, the Yucaipa Valley Water District, San Bernardino Valley Water Conservation District <br />and any other initial Members. <br />"Agreement" shall mean this Joint Exercise of Powers Agreement creating the Authority, as it <br />may be amended from time to time. <br />"Authority" shall mean the Upper Santa Ana River Watershed Infrastructure Financing Authority <br />created by this Agreement. <br />"Board" or "Board of Directors" shall mean the governing board of the Authority. <br />"Bonds" shall have the same meaning as in Government Code section 6585(c), and in addition <br />shall include, without limitation. bonds, loans, notes and any other evidences of indebtedness of the <br />Authority authorized and issued pursuant to the Act or other available financing mechanism. <br />"Director" shall mean a member of the Board appointed to the Board pursuant to Section 4(b) of <br />this Agreement. <br />"Indenture" shall mean each indenture, trust agreement, loan agreement, resolution or other such <br />instrument pursuant to which Bonds are issued. <br />"Members" shall mean San Bernardino Valley Municipal Water District, Yucaipa Valley Water <br />District, San Bernardino Valley Water Conservation District and the Additional Members listed in <br />Exhibit A of this Agreement. <br />"Project" shall mean generally water -related capital improvement projects, including, but not <br />limited to, wastewater treatment, recycled water or water reuse, stormwater capture, water conveyance, <br />groundwater storage, alternative energy, environmental preservation or ecosystem restoration projects, <br />identified in a Project Agreement financed or refinanced by the Authority for the benefit of the Member <br />or Members who are parties to such Project Agreement. <br />4845-6031-7422v12/200315-0002 <br />