Xxxxxx Valley Water Authority Sample Clauses

Xxxxxx Valley Water Authority. 26218851.8 Cadiz, Inc. and its subsidiaries ("Cadiz") is a public company holding certain water, water rights and storage rights in trust for the benefit of its shareholders. Cadiz is also the owner ofapproximately forty-five thousand (45,000) acres of land in eastern San Bernardino County ("Property"), most of which overlies the Xxxxxx Valley Aquifer System. Cadiz holds the right to extract on average up to 50,000 acre-feet per year ("AFY") of groundwater to be conserved over a 50-year period by the Water Project (defined below) pursuant to a certified Final Environmental Impact Report ("Project FEIR") and Groundwater Management, Monitoring and Mitigation Plan ("GM3P") approved by San Bernardino County ("County") and owns a thirty inch diameter, 220-Mile, existing steel pipeline originating at Cadiz with a terminus at Xxxxxxx Ridge ("Northern Pipeline"). Xxxxxx Gap Mutual Water Company ("FGMWC") is a nonprofit mutual benefit corporation established by Cadiz as a California Mutual Water Company pursuant to California Public Utilities Code§§ 2704 and 2705 authorized to deliver water to its shareholders at its cost, inclusive of water supply, capital and operations and maintenance. Cadiz will lease conserved water available to FGMWC as authorized under the GM3P for delivery to FGMWC members as provided in Section III.1.2 below. FGMWC will operate and manage the Water Project (as defined below) under Agreement with Xxxxxx Valley Water Authority. FGMWC members will ultimately be comprised of entities that have contracted to receive water (1 Share for every AFY) from the Water Project and have membership rights in FGMWC. Santa Xxxxxxxxx Water District ("SMWD") is a California Water District, a local agency of the State of California with broad powers under the California Water District Act, Cal. Water Code§§ 34000 et seq. SMWD currently holds a Water Purchase and Sale Agreement for delivery of 5,000 AF from the Water Project as defined in Section II.a. below. Xxxxxx Valley Water Authority ("FVWA") is a joint powers authority formed through a joint exercise ofpowers agreement between SMWD and FGMWC, with SMWD serving as the "designated entity" of FVWA under California Government Code Section 6509 and serving as the Managing Member. FVWA's purpose is to lease, maintain and eventually own the facilities and associated appurtenances necessary for the conveyance and delivery of water from the Water Project ("Capital Facilities") and provide oversight for operation o...
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