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JOINT POWERS AGREEMENT BY AND AMONG THE <br /> CITIES OF RANCHO PALOS VERDES, PALOS VERDES <br /> ESTATES AND ROLLING HILLS ESTATES, CREATING A <br /> PALOS VERDES PENINSULA TRANSIT AUTHORITY <br /> THIS AGREEMENT is executed as oApr i 1 16 , 1 9 96. by and among the Cities of Rancho <br /> Palos Verdes, Palos Verdes Estates and Rolling Hills Estates, each of which is a municipal <br /> corporation of the State of California. <br /> WITNESSETH: <br /> WHEREAS, the Cities of Palos Verdes Estates, Rolling Hills Estates and Rancho Palos Verdes <br /> desire to form a Joint Powers Authority (".-Authority") pursuant to a Joint Powers Agreement <br /> ("Agreement") to provide public transit on the Palos Verdes Peninsula: and <br /> WHEREAS, the parties to this Agreement have a mutual interest in providing public transit to <br /> serve citizens of the member agencies: and <br /> WHEREAS, the Authority contemplat.2s receiving Proposition A funds through the Los Angeles <br /> County •• .• -. '. :11 otropolitan Transportation Authority and funds from all <br /> ether legally available sources to support public transit orotirams provided under this :Agreement: <br /> .Ana <br /> WHEREAS. by this Agreement the parties hereto intend jointly to exercise their powers to <br /> accomplish common objectives. <br /> . <br /> NOW. THEREFORE. the parties hereto for and in consideration of the mutuai benefits_ promises. <br /> and agreements set forth herein do agree as follows: <br /> Section 1 Purpose. This Agreement is made pursuant to the provisions of Article 1. Chapter 5. <br /> Division 7. Title I of the Government Code of the State of California (commencing with Section <br /> Page 1 <br />