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WHEREAS, in furtherance of the Program, certain <br />California counties (collectively, the "Initial Participants") <br />have entered into-that certain Joint Exercise of Powers <br />Agreement dated as of November 18, 1967 (the "Initial <br />Agreement"), pursuant to which the California Counties <br />Industrial Development Authority has been established as a <br />separate entity under the Joint Exercise of Powers Act for the <br />purposes and with the powers specified in the Initial <br />Agreement; and <br />WHEREAS, the League of California Cities ("LCC") <br />has determined to join as a sponsor of the Program and to <br />actively participate in the administration of the Authority; <br />and <br />. WHEREAS, the Initial Participants have determined <br />to specifically authorize the Authority to issue Bonds <br />pursuant to Article 2 of the Joint Exercise of Powers Act <br />("Article 2") and Article 4 of the Joint Exercise of Powers <br />Act ("Article 4"), as well as may be authorized by the Act or <br />other applicable. law; and . <br />WHEREAS, the Initial Participants desire to rename <br />the California Counties Industrial Development. Authority. to <br />better reflect the additional sponsorship of the Program;,and <br />WHEREAS, each of the Initial Participants has <br />determined that it is in the public interest of the citizens <br />within its boundaries, and to the benefit of such Initial <br />Participant and the area and persons served by such Initial <br />Participant, to amend and restate in its entirety the Initial <br />Agreement in .order to implement the provisions set forth <br />above; and <br />WHEREAS, it is the desire <br />Participants to use a public entity <br />"the Joint Exercise of Powers Act to <br />their respective jurisdictions that <br />issued pursuant to the Act, Article <br />applicable provisions of law; and <br />of the Program <br />established pursuant to <br />undertake projects within <br />may be financed with Bonds <br />2, Article 4, or other <br />WHEREAS, the projects undertaken will result in <br />significant public benefits, including those public benefits' <br />set forth in Section 91502.1 of the Act, an increased level of <br />economic activity, or an increased tar base, and will <br />therefore serve and be of benefit to the inhabitants of the <br />jurisdictions of the Program Participants; <br />NOW, THEREFORE, the Program Participants, for and <br />in consideration of the mutual promises and agreements herein <br />contained, do agree to restate and amend the Initial Agreement <br />in its entirety to provide as follows: <br />