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in financing as authorized herein, jointly exerciser) in the manner set forth Ihercin 3. Principal Place of Business The principal office of the Authority shall be 1115 It Street, Suite 1650, Sacramcuth, California 95811. 4. Creation of Authority; Addition of Members or Associate Members a. The Authority is hereby created pursuant to the Act. As provided in de Act, die Authority sliall be a public cutity scpauatc acid distinct from the tYietnbcrs or Associate Members. b. '1 tic Authority will cause it notice of this Agrecmeut or awry anicudnicut hereto to be prepared atxl filed with the office of the Secretary of State of Califoniia in a timely fashion in die ncmner set lbrtlh in Sectiou 6503.3 of the Act. C. A county that is a niember of RCRC may petition to become a member of the Authority by submitting to the Board a resolution or evidence of other formal action taken by its governing bcxly adopting this Agreement. The Board sliall review die petition for membership ahxl shall vote to approve or disapprove the petition. If the petition is approved by a majority of the Board, such county sliall immediately become a N[cmber of tlic Authority. d. An Associate hlemhber may be added to the Authority upon the aflirniauve approval of its respective govcming board and pursuant to action by the Authority Board upon such terms and conditions, and with such riglhts, privileges uid responsibilities, as may be established from time to tittle by die Board. Such terms and conditions, and rights, privileges and responsibilities may vary among the Associate Members. Associate Members shall be entitled to participate in one or more progruns of the Authority as determined by die Board, but sliall not be voting members of the Board. The Executive Director of the Authority skill eul'orce the terms and conditions for prospective Associate Members to die Authority as provided by resolution of die Board and as arncudcd front time to time by die Board. Chutges in the terms and conditions for Associate Membership by the Board will not constitute alt atncudmcut of this Agreement. 5. Term and Termination of Powers This Agreement shall become effective from the (late hereof until the earlier of the tittle when all Bonds and any interest thereon shall helve been paid in full, or provision for such payment shall have been made, or when the Authority sliall no longer own or hold any intcrest iu a public capital improvement or program. "Ilse Authority sliall continue to exercise the powers herein conferred upon it until ternunation of this Agreement, except that if atty Bonds are issued and delivered, in no event shall the exercise of the powers herchi granted be terminated until all Bonds so issued and delivered and the interest thereon shall have been paid or provision for such payment shall have been made and any other debt incurred with respect to any other financing program established or adnii iistcred by thhe Authority has been repaid in full and is no touger outstanding. 6. Powers; Resftwtion upon Exercise 55E -15