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                     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.


               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
                        •   The legislature intended that the Application for Conditions not be subject to CEQA
                        •   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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