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conservation and renewable energy improvements to or oil real property and in buildings. The Authority may enter into one or more agreements, includiug without limitation, participation agreements and implementation agreements to implement such pro;Tamhs. C. Sulticct to the applicable provisions of airy indenture or resolution providing for the investment of mollies held thereunder, the Authority shall have the power to invest ally of its funds as tic Board deems advisable, in the sine manner ai<1 upon die same conditions as local ageucics pursuant to Scctiou 53601 of the Govenimcnt Code of the State of Califbmia. f. All property, equipmcut, supplies, funds and records of die Authority shall be owned by [lie Authority, except as may be provided otlienvisc herein or by resolution of (lie Board. g. Pursuant to the provisious of Section 6508.1 of the Act, the debts, liabilities and obligatous of the Authority shall not be debts, liabilities and obligations of die Members or Associate Members. Any Bonds, togedier with airy interest and premium thereon, shall not constitute debts, liabilities or obligauious of any Member. The Members or Associate 'vlcmbers hereby agree that any such Bouds issued by die Authority shall not constitute general obligations of the Authority but shall be payable solely From the moueys pledged to the repayment of principal or interest ore such Bouds under die terms of tae resolution, indenture, trust, agrreeaneut or other iustrumcut pursuit to which such Bouds are issued. Neither die Members or Associate Members nor the Audnority shall be obligated to pay die principal of or premium, if airy, or uterest oil die Bouds, or other costs incidental thereto, except from the revenues will funds pledged diercfor, and neither the faith and credit nor the taxing power of the Members or Associate Members or die Authority sliall be pledged to tae payment of die principal of m premium, if any, or interest oil the Bonds, nor shall die Members or Associate Members of Lite Authority be obligated hh any trimmer to make any appropriation for such payment. No coveuad or agreement contained in airy Bond sluill be deemed to be a covenant or agreement of allay Delegate, or any officer, agent or employee of tic Authority in all individual capacity, and neither die Board nor any officer thereof executing die Bouds or any document related thereto shall be liable personally oil any Bond or be subject to any personal liability or accouutlbility by reason of die issuance ofa y Bonds. 7. Governing Board a. The Board shall consist of die number of Delegates equal to one representative from each Member. b. The governing body of each Member shall appoint one of its Supervisors to serve as a Delegate on ale Board. A Member's appointment of its Delegate sli dl be delivered in writing (which may be by electronic mail) to die Authority and shall be ellectivc until lie or she is repLlced by such governing body or no longer a Supervisor; any vacancy shall be filled by the governing body of the Member in the sane mariner provided in this paragraph b.. C. "I'hc governing body of each Member of the Board shall appoint a Supervisor as an altermitc to serve on [lie Board in [lie absence of the Delegate; the alternate may exercise all the 55E -17