55C - RESO OC HOUSING FINANCE JOINT POWERS

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2. Advisory Board: Terms of office for members of the Advisory Board shall be for two (2) years. An Advisory Board members seat shall be deemed vacant if he or she fails to attend three consecutive regular or special meetings, or if his or her appointing body removes him or her. Upon a vacancy, the appointing body shall be notified and shall attempt to fill the vacancy within sixty (60) days of the vacancy occurring. Section D. Board of Director Officers The Board of Directors shall select a Chair and a Vice -Chair on an annual basis. Only members of the Board of Directors may serve as Chair or Vice -Chair. If a County representative is the Chair for any one period, a City representative shall serve as Vice -Chair. If a City representative is Chair for any one period, a County representative shall serve as Vice -Chair. ARTICLE IV — Duties of Officers and Board Members \ Section A: Duties of the Chair and Vice -Chair 3 ' It shall be the duty of the Chair to preside at the meetings of the OCHFT. In the -Chair's absence, the Vice -Chair shall preside at the meetings of the OCHFT: Section B: Duties of the Board of Director Members: • Meet when called by the Chairto plan and•coordinate the business and proposed activities of OCHFT; \. • Review and consider applications for project funding; • Review and consider OCHFT's financial information, including the Annual Financial Report, any related independent audit, and•the OCHFT's annual budget; and • Serve on subcommittees or task forces when appropriate. ` Section C: Formation of Subcommittees The Board may create subcommittees or -task -forces to, accomplish the goals and purposes of OCHFT. ARTICLE V -,Meetings- Section A: Regular Meetings Regular meetings of OCHFT's Board shall be held once every two (2) months, unless otherwise called by the Chair. Meeting notice, agenda, and public comment procedures shall comply with the provisions of the Ralph M Brown'Act:,The County's;Clerk of the Board shall prepare meeting agendas and handle noticing requirements.. Section B: Special Meetings - _. Special meetings of OCHFT may be held at any time upon call of the Chair, provided that the special meetings' noticing and agenda complies with the Ralph M. Brown Ad. Section C: Quorum A quorum shall exist when a simple majority of seated members of the Board of Directors are present. Section D: Voting on Project Funding The Board shall strive to attain a unanimous decision on all projects which receive funding from OCHFT; however funding for a project is deemed approved following a majority (five 15] "yes" votes or more) vote of the Board of Directors, provided that a quorum was present. 55C-31