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Ch. 833                    — 6 —

               the agency and to do so in a manner that promotes the sustainable
               stewardship of natural resources in the Santa Clarita Valley.
                 Sec. 3. For purposes of this act, the initial boundaries of the agency shall
               be the boundaries of the Castaic Lake Water Agency, as those boundaries
               existed on December 31, 2017, and as confirmed by the Local  Area
               Formation Commission for the County of Los Angeles in its final written
               report pursuant to Section 30.
                 Sec. 4. (a)  The Castaic Lake Water Agency created pursuant to the
               Castaic Lake Water District Law (Chapter 28 of the First Extraordinary
               Session of the Statutes of 1962) and the Newhall County Water District
               created pursuant to the County  Water District Law (Division 12
               (commencing with Section 30000) of the Water Code), shall be reorganized
               into the Santa Clarita Valley Water Agency and shall no longer operate as
               separate entities or exercise independent functions.
                 (b)  The agency shall be the successor to the Castaic Lake Water Agency
               and the Newhall County Water District for the purpose of succeeding to all
               of the rights, duties, obligations, contracts, responsibilities, assets,
               entitlements, and liabilities of the Castaic Lake Water Agency and the
               Newhall County  Water District, including, but not limited to, the
               performance or payment of any outstanding bonds described in Section
               53350 of the Government Code.
                 (c)  All property, whether real or personal, and including all moneys such
               as cash on hand and moneys due uncollected, and assets and liabilities of
               the Castaic Lake Water Agency and the Newhall County Water District
               shall be transferred to and vested in the agency.
                 (d)  All employees of the Castaic Lake Water Agency and the Newhall
               County Water District shall become employees of the agency.
                 (e)  If the agency establishes a contract with the Public Employees’
               Retirement System, the agency shall be the successor to the Castaic Lake
               Water Agency and the Newhall County Water District for the purpose of
               providing continuation of membership in the Public Employees’ Retirement
               System for agency employees, and shall succeed to the former agencies’
               assets and liabilities for Public Employees’ Retirement System benefits,
               consistent with Section 20508 of the Government Code.
                 (f)  The agency may continue to levy, impose, or  fix and collect any
               previously authorized charge, fee, assessment, or tax approved, imposed,
               and levied by the Castaic Lake Water Agency or the Newhall County Water
               District, or both, including, but not limited to, any rates, fees, and charges
               for the provision of water. Any charge, fee, assessment, or tax authorized
               and in effect for the Castaic Lake Water Agency or the Newhall County
               Water District shall remain in effect until otherwise modified, increased, or
               terminated by the board of directors of the agency.
                 (g)  The agency shall be the successor in interest to the Castaic Lake
               Water Agency’s water supply contract with the Department of  Water
               Resources dated August 3, 1962, as thereafter amended, for a water supply
               from the State Water Resources Development System, including all of the
               rights, responsibilities, and obligations contained in the contract, and the



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