BICEP 1 -1988 - Laserfiche WebLink

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(2) TO incur debts, liabilities, and obligations and to encumber real or personal property. (3) To acquire, hold, or dispose of real or personal property, contributions and dcnations of real or personal property, funds, services, and 3~her forms of assistance from persons, firms, corporations, ana government entities. (4) To sue and be sued in its own name, and to settle any claim against it. (5) To receive and use contributions and advances from Members as provided in Government Code Section 6504, including contributions or advances of personnel, equipment or property. (6) To invest any money in its treasury that is not required for its immediate necessities, pursuant to Government Code Section 6509.5. (7) To employ agents and employees. (8) To receive, collect and disburse moneys. (9) To develop and implement insurance risk management programs, including purchase of excess insurance and reinsurance. (10) To finance, by means of the issuance of bonds or other instruments of indebtedness, self-insurance reserve funds necessary or convenient for the implementation of this Agreement or an Insurance Program Agreement. (11) To exercise all powers of entities, such as the Authority, created under the Joint Powers Law including, but not limited to, those powers enumerated under the Marks-Roos Local Bond Pooling Act of 1985, as amended. (12) To exercise other reasonable and necessary powers in furtherance or support of any purpose of the Authority or power granted by the Joint Powers Law, this Agreement or the Bylaws of the Authority. (b) Restrictions on Powers. Pursuant to and to the extent required by Government Code Section 6509, the Authority shall be restricted in the exercise of its powers in the same manner as the City of Oxnard is restricted in its exercise of similar powers; provided that, if the City of Oxnard shall Cease to be a Member, then the Authority shall be restricted in the exercise of its power in the same manner as the City of Santa Ana.