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A. RECITALS. <br />(iu) the City CouncH of the City of Brea (the "City") has adopted its ordinance <br />decIlaring a need for arra un u strriM devellopment u,uth d-ty in the City and estalbllishiing the <br />I n ustd ll ICD v llopi ent Authority of -the City of Br (the "Authority") urrnder -the California <br />Industrial Development IR n Irn i ng Act; and <br />(Iuii) the City and the Authority Irity Ir u thin Ipursuant -t -the Joint IExercise of <br />Power Act (CafiforNa Government Code Section 6500 et sed„) of the State flfifforini <br />(the "Joint IP Ir t"), -to fIrim a ,joi nt powers authority as a pubfic agency for -th <br />purpose f assisting the ffllna n ing and refinancing of public c IpftM ilimprv me nts, and <br />(Iii!) in order to establish a joint powers uduthority which its authorized -to exercise <br />-the powers granted under rr° tine Joint Powers Act -to plr vu ii tans to -the City in <br />connection with -the financing and rVilna n ilrng of pubfic capiff i improvements of -the City, <br />-the City and the authority Ihave proposed -to enter into Joint lExercise of Powers <br />Agreement which establishes -the Brea Community IBenefit Rna n ing Authority; <br />My 220 2014 <br />