TRANSPORTATION CORRIDOR AGENCY - SAN JOAQUIN CORRIDOR

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f' • CITY COUNCIL AGENDA DATE OCTOBER 3, 1988 TITLE FIRST AMENDED AND RESTATED JOINT EXERCISE OF POWERS AGREEMENTS FOR THE SAN JOAQUIN HILLS AND FOOTHILL/ DATE OF COUNCIL ACTION f}- i ---� e-D /I -n -063f o) c,dv:z5/ OCT 3 IJ88 -- p4inori204 ltte 5it}144EO^"� to prepare and the Mayor and Clerk W &1'e64ita 3QYPpmant. RECOMMENDED ACTION Authorize the Mayor to execute the First Amended and Restated Joint Exercise of Powers Agreements for the San Joaquin Hills and Foothills /Eastern Transportation Corridor Agencies. CA -IRS - IOOB> e8 too A) EXECUTIVE SUMMARY The County of Orange, the City of Santa Ana and ten other cities that would benefit from the construction of the San Joaquin Hills and Foothills /Eastern Transportation Corridors are members of the Transportation Corridor Agency. At their September 15, 1988 board meeting, the Directors of the Corridor Agency were notified by Counsel that there would be a request of each of the partici- pating agencies to review and execute the First Amended and Restated Exercise of Powers Agreements. One of the major changes to the Joint Powers Agreements is that the agreements now state that toll revenue financing is one of the legally feasible methods of-additional financing for the Agency. Section 11.1 of the existing agreement, requires that not less than 3/4 of all parties must approve amendments to the agreement. The Board of the Agencies, after meeting on September 15, 1988 authorized distribution of the proposed amended agreements for their approval. The Public Works Agency has reviewed the amended Joint Powers Agreement and believes that changes are for clarification, to provide for toll road financing and are consistent with the basic principles of being a member of the Transportation Corridor Agencies.