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<br /> <br /> <br /> <br /> <br /> <br /> <br /> ARTICLE V. <br /> <br /> ACCOUNTING AND AUDITS <br /> <br /> <br /> <br /> 1. Accounting Procedures. Full books and accounts shall be maintained <br /> <br /> for the Authority in accordance with practices established by, or consistent with, those <br /> <br /> utilized by the Controller of the State of California for like public entities. In particular, <br /> <br /> the Authority's auditor and treasurer shall comply strictly with requirements governing <br /> <br /> joint powers agencies, Article 1, Chapter 5, Division 7, Title 1 of the Government Code <br /> of the State of California (commencing with Section 6500). <br /> <br /> <br /> <br /> 2. Audit. The records and accounts of the Authority shall be audited <br /> <br /> annually by an independent certified public accountant and copies of the audited <br /> <br /> financial reports, with the opinion of the independent certified public accountant, shall be <br /> <br /> filed with the County Auditor, the State Controller and each member within six (6) <br /> <br /> months of the end of the fiscal year under examination. <br /> <br /> <br /> <br /> ARTICLE VI. <br /> <br /> PROPERTY RIGHTS <br /> <br /> <br /> 1. Vehicles. Equipment, Facilities and Property. <br /> <br /> A. Ownership. Except as provided herein, all real and personal <br /> property, including but not limited to, facilities constructed, installed, acquired or leased <br /> <br /> by the Authority, apparatus and equipment, personnel and other records and any and all <br /> <br /> <br /> <br /> 4509-08 <br /> 110179 v3 25 <br /> 9/27/99 <br /> 60C-32 <br />