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ARTICLE V <br /> METHODS OF PROCEDURE; CREDIT TO MEMBERS <br /> Section 5.01. Assumption of Responsibilities By the Authority. As soon as practicable <br /> after the date of execution of this Agreement, the Directors shall give notice (in the manner <br /> required by Section 2.04) of the organizational meeting of the Board.At said meeting the Board <br /> shall provide for its regular meetings as required by Section 2.04 and elect a Chairman and Vice <br /> Chairman,and appoint the Secretary. <br /> Section 5.02. Delegation of Powers. The Members hereby delegate to the Authority the <br /> power and duty to acquire, by lease, lease-purchase,installment sale agreements, or otherwise, <br /> or make loans to finance,such Public Capital Improvements as may be necessary or convenient <br /> for the operation of the Members and to exercise the power of condemnation as necessary in <br /> connection therewith. <br /> Section 5.03. Credit to Members. All accounts or funds created and established <br /> pursuant to any instrument or agreement to which the Authority is a party, and any interest <br /> earned or accrued thereon, shall inure to the benefit of the Members in the respective <br /> proportions for which such funds or accounts were created. <br /> -$- <br />