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NOW, THEREFORE, in consideration of the mutual <br />promises and covenants herein contained, the Parties hereto <br />agree as follows: <br />I. <br />For the purposes of this Agreement, the following <br />words shall have the following meanings: <br />a. "Agreement" means this First Amended and Restated <br />Joint Exercise of Powers Agreement, as amended from time to <br />time. <br />b. "Agency" means the FOOTHILL and EASTERN <br />TRANSPORTATION CORRIDOR AGENCY. <br />C. "Annual Budget" means the approved budget <br />applicable to the expenses of administration of the Agency. <br />d. "Board Members" means those persons serving as <br />members of the Board or their alternates. <br />e. "Board" means the governing body of the Agency. <br />f. "Ex Officio Member" means Board Member who do not <br />have a vote in Agency matters and whose presence shall not <br />be counted in determining whether a quorum sufficient to <br />transact Agency business exists. <br />g. "Executive Director" means the chief operating <br />employee selected by the Board to manage the day -to -day <br />activities of the Agency, including, but not limited to, <br />the appointment and removal of all employees of the Agency <br />except those described in Section 3.11 below. The <br />Executive Director shall not be an employee of any <br />individual Party. <br />h. "Fiscal Year', means July 1st to and including the <br />following June 30th. <br />i. "Party" means each of the public entities which <br />becomes a signatory to this Agreement, accepting the rights <br />and obligations of the Agency hereunder, including any <br />-3- <br />