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LAFCO

Local Agency Formation Commission
for r.he County of Los Angeles

c. Will existing debt be extended to the entire affected area?

C Yes [8] No
Briefly describe:

As provided in SB 634, each retail financial accounting division will be responsible for its own
legacy debt.
d. Will new debt be required?
C Yes [8] No

If yes, briefly describe:

As stated above, Valencia Water Company's debt was refinanced in January 2018 with 2018A
series taxable revenue bonds. Pursuant to an inter-fund loan, this debt remains the responsibility
of the Valencia Water Division.

11. CALIFORNIA ENVIRONMENTAL QUALITY ACT (CEQA) Compliance:

a. Check one:
_X_ Categorical Exemption/ Statutory Exemption
CEQA Guideline Section: 15061(b)(3)-common sense exemption
__ Negative Declaration (ND)
__ Mitigated Negative Declaration (MND)
__ Environmental Impact Report (EIR)
_X_ Other-Explain:

• Not a project under CEQA because the Agency was created by the legislature. CEQA
Guidelines §15378(b)(1).
• Not a project because neither the Agency nor LAFCO are committed to any actions that
may result in a direct or reasonably foreseeable indirect impact to the physical
environment.
• The legislature intended that the Application for Conditions not be subject to CEQA
review.
• The Application for Conditions is a ministerial action. CEQA Guidelines §15369.

b. Identify the Lead Agency which adopted a CEQA clearance for the proposal: Santa Clarita Valley
Water Agency

c. Date Lead Agency adopted the CEQA clearance for the proposal: January 29, 2018

d. Submit complete copies of CEQA compliance documents.

e. Submit complete copies of any Notice of Exemption (NOE) or Notice of Determination (NOD).

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