PV Peninsula Transportation Authority Joint Powers Agreement - Termination (1992) 410 111
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AGREEMENT TERMINATING THE JOINT POWERS AGREEMENT
BY AND AMONG THE CITIES OF RANCHO PALOS VERDES,
PALOS VERDES ESTATES, ROLLING HILLS ESTATES, AND
LOS ANGELES COUNTY WHICH HAD CREATED THE PALOS
VERDES PENINSULA TRANSPORTATION AUTHORITY
WHEREAS, the Cities of Rancho Palos Verdes, Palos
Estates and RollingHills Estates, and Los Angeles County
Verdes
entered into a Joint Powers Agreement ("JPA") on December 17,
1985, which created the Palos Verdes
Peninsula Transportation
Authority to provide publictransportation on the Palos Verdes
Peninsula,
a copyof which is attached hereto as Exhibit "A" and
•
incorporated herein by this reference; and
WHEREAS, the Cities of Rancho Palos Verdes, Palos
Verdes Estates and Rolling Hills Estates desire to enter into a
new Joint Powers Agreement creating a new Joint Powers Authority
to providepublictransportation trans ortation on the Palos Verdes Peninsula;
and
WHEREAS, the Cities of Rancho Palos Verdes, Palos
Verdes Estates, Rolling Hill Estates and the County of Los
Angeles desire to terminate the JPA;
NOW, THEREFORE, the parties hereto for and in
consideration of the mutual benefits, promises, and agreements
set forth herein do agree as follows:
SECTION 1. Termination.
Pursuant to Section 8 of the JPA, the parties to this
Agreement hereby terminate the JPA.
SECTION 2 . Disposition of Assets.
All assets acquired by the Authority during the term of the JPA
shall be transferred to the new Joint Powers Authority
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created by
the Agreement dated December 10 , 1991 between the
Cities of
Rancho Palos Verdes Estates, Rolling Hills Estates and
Rancho Palos Verdes.
SECTION 3 . Debts, Obligations and Liabilities
All outstanding debts, liabilities, and contractual
obligations ations of the Authority shall be assumed by the Joint Powers Authority created by the Agreement dated Decmnber 10 , 1991
between
the Cities of Palos Verdes Estates, Rolling Hills Estates
and Rancho Palos Verdes.
.
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411 411
IN WITNESS WHEREOF, the parties hereto have executed
this Agreement to be effective on grid day February , 1992.
CITY OF ROLL LLS ES
By: ‘14 Date:
MAYOR
ATTEST:
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CITY CLE' 7
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CITY OF PALOS VERDES TES
1/;y: Date:
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ATTEST:
CITY CLERK 0?..
CITY OF RANCHO PALOS VERDES
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By: ,Ae . A" Date:
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MAYOR
ATT T:
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CIT CLERK
(Segnatures continue)
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COUNTY OF LOS ANGELES
By: Date:
ATTEST: APPROVED AS TO FORM:
DE WITT W. CLINTON
COUNTY COUNSEL
By: By:
CLERK OF THE BOARD PRINCIPAL DEPUTY,
OF SUPERVISORS COUNTY COUNSEL
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