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time of that filing, the lien shall be extended with respect to the real property
in that county for 10 additional years unless sooner released or otherwise
discharged.
Sec. 25. Any bonds issued by the agency are hereby given the same
force, value, and use as bonds issued by any city and shall be exempt from
all taxation within the state.
Sec. 26. (a) Except as otherwise provided in this act, the County Water
District Law (Division 12 (commencing with Section 30000) of the Water
Code) shall govern the formation, operation, and dissolution of all
improvement districts, so far as they may be applicable.
(b) The board of directors may advance general funds of the agency to
accomplish the purposes of an improvement district formed to incur bonded
indebtedness or for any other purpose for which an improvement district
may be created and, if the improvement district is formed to incur bonded
indebtedness, may repay the agency from the proceeds of the sale of the
bonds, or if the improvement district is formed for any other purpose for
which an improvement district may be created, in the formation of the
improvement district, provide that the agency shall be repaid with interest
at a rate not to exceed the maximum rate per annum authorized by Section
31304 of the Water Code from the special taxes levied exclusively upon
the taxable property in the improvement district.
(c) Interest on any bonds issued by the agency coming due before the
proceeds of a tax levied at the next general tax levy after the sale of the
bonds are available may be paid from the proceeds of the sale of the bonds.
The percentage of the proceeds of any sale of the bonds shall not exceed
the maximum interest rate authorized, for other purposes, by Section 31304
of the Water Code.
Sec. 27. The agency may contain lands situated in more than one county,
and the agency may annex lands situated in another county.
Sec. 28. The provisions of this act are severable. If any provision of this
act or its application is held invalid, that invalidity shall not affect other
provisions or applications that can be given effect without the invalid
provision or application.
Sec. 29. (a) On or before January 31, 2018, the agency shall submit an
application for conditions addressing the creation of the agency to the Local
Agency Formation Commission for the County of Los Angeles. The
application shall include a copy of this act, a map and description of the
boundaries of the agency, and a plan for providing services that includes
the information described in Section 56653 of the Government Code, as
applicable. The plan for providing services shall include Valencia Water
Company, which will be integrated into the agency pursuant to subdivision
(j) of Section 4. The application for conditions shall identify the functions
or class of services that were being exercised by the Castaic Lake Water
Agency and Newhall County Water District on December 31, 2017.
(b) The Local Agency Formation Commission for the County of Los
Angeles shall hold a noticed public hearing regarding the application no
later than 60 days after the submission of the application. The Local Agency

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