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CALIFORNIA MUNICIPAL FINANCE AUTHORITY-2004
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CALIFORNIA MUNICIPAL FINANCE AUTHORITY-2004
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Last modified
10/21/2013 11:35:15 AM
Creation date
8/12/2008 10:30:33 AM
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Contracts
Company Name
CALIFORNIA MUNICIPAL FINANCE AUTHORITY
Contract #
A-2008-207
Agency
FINANCE & MANAGEMENT SERVICES
Council Approval Date
7/7/2008
Destruction Year
0
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(4) Minutes. <br />The Secretary of the Authority shall cause to be kept minutes of <br />the regular, adjourned regular, special, and adjourned special meetings of <br />the Board and shall, as soon as possible after each meeting, cause a copy <br />of the minutes to be forwarded to each Director. <br />(5) uorum. <br />A majority of the Board shall constitute a quorum for the <br />transaction of business. No action may be taken by the Board except upon <br />the affirmative vote of a majority of the Directors constituting a quorum, <br />except that less than a quorum may adjourn a meeting to another time and <br />place. <br />E. RULES AND REGULATIONS. <br />The Authority may adopt, from time to time, by resolution of the Board such rules <br />and regulations for the conduct of its meetings and affairs as may be required. <br />Section 4. Powers. <br />The Authority shall have the power, in its own name, to exercise the common powers of <br />the Members and to exercise all additional powers given to a joint powers entity under any of the <br />laws of the State of California, including, but not limited to, the Joint Exercise of Powers Act, for <br />any purpose authorized under this Agreement. Such powers shall include the common powers <br />specified in this Agreement and may be exercised in the manner and according to the method <br />provided in this Agreement. The Authority is hereby authorized to do all acts necessary for the <br />exercise of such power, including, but not limited to, any of all of the following: to make and <br />enter into contracts; to employ agents and employees; to acquire, construct, provide for <br />maintenance and operation of, or maintain and operate, any buildings, works or improvements; <br />to acquire, hold or dispose of property wherever located; to incur debts, liabilities or obligations; <br />to receive gifts, contributions and donations of property, funds, services, and other forms of <br />assistance from person, firms, corporations and any governmental entity; to sue and be sued in its <br />own name; to make grants, loans or provide other financial assistance to governmental and <br />nonprofit organizations (e.g., the Members or the Foundation) to accomplish any of its purposes; <br />and generally to do any and all things necessary or convenient to accomplish its purposes. <br />Without limiting the generality of the foregoing, the Authority may issue or cause to be <br />issued Bonds, and pledge any property or revenues as security to the extent permitted under the <br />Joint Exercise of Powers Act, or any other applicable provision of law; provided, however, the <br />Authority shall not issue Bonds with respect to any project located in the jurisdiction of one or <br />more Members unless the governing body of any such Member, or its duly authorized <br />representative, shall approve, conditionally or unconditionally, the project, including the issuance <br />of Bonds therefor. Such approval may be evidenced by resolution, certificate, order, report or <br />such other means of written approval of such project as may be selected by the Member (or its <br />authorized representative) whose approval is required. No such approval shall be required in <br />
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