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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 />10 <br />