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8.1.6 Employ agents and employees. <br />8.1.7 Acquire, construct, manage, maintain, or operate buildings, works, <br />or improvements. <br />8.1.8 Lease real or personal property, including that of a Member. <br />8.1.9 Receive, collect, and disburse monies. <br />8.1.10 Invest money in the treasury of the Authority in the same manner <br />and on the same conditions as local agencies pursuant to <br />Government Code Section 53 60 1. <br />8.1.11 Exercise all other powers necessary and proper to carry out the <br />provisions of this Agreement. <br />8.1.12 Develop and implement Risk Management Programs. <br />8.1.13 Jointly purchase for the benefit of Members, insurance, excess <br />insurance, reinsurance, and enter into agreements for the benefit of <br />Members, for the purpose of transferring risk of loss to commercial <br />insurers or reinsurers or other insurance pools. <br />ARTICLE 9. RISK MANAGEMENT PROGRAMS. <br />9.1 The Governing Board shall establish Risk Management Programs as provided in <br />the Authority's By -Laws. <br />9.2 No Risk Management Program shall become operational, or possess any <br />authority, until the proposed Risk Management Program By -Laws have been <br />Approved by the Governing Board October 13, 2004 <br />10 <br />55E-16 <br />