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The Authority shall appoint uiue (9) numbers of its Board to serve oil au Executive <br />Conunittee. <br />b. Powers and Limitations <br />The Executive Conumitcc shall act ill all advisory rapacity and make <br />rccomurcndations to the Authority Board. Dutics will include, but not be limited to, review of the <br />quarterly and aumrtal budgets, service as the Audit Committee for the Authority, periodically <br />review this Agreement; and comptete arty other (asks as may be assigmcd by dre Board. The <br />EICCntiVC Committee shall be subject to all linutations imposed by this Agrecamcnt, other <br />applicable law, and resolutions of the Board. <br />C. Quorrini <br />A majority of the Executive Committee shall constitute a quonun for transacting <br />business of the Executive Committee. <br />11. Disposition of Assets <br />Upon termination of this Agreement, all rentariufng assets and liabilities of the Authority <br />shall be distributed to the respective Members ill suet[ mauuer as slnfl be detenuiued by the <br />Board and ill accordance with the law. <br />12. Agreement Not Exclusive; Operation in Jurisdiction of Member <br />This Agreement shall not be exclusive, and each Member expressly reserves its rights to <br />carry out other public capital improvements and programs as provided for by law and to issue <br />other obli;ations For those purposes-. 11ris A„�recrneut shall not be deemed to amend or after the <br />terms of other agreements among the Members or [Associate Members. <br />13. Conflict of Interest Code <br />The Authority shall by resolution adopt it Conflict of Interest Code as required by law. <br />14. Contributions and Advances <br />Contributions or advances of public fuurls and of personnel, equipment or property may <br />be trade to the Authority by ally Member, Associate Member or ally other public agency to <br />further the purpose of this Agrecneut. Payment of public fuurls may be made to deli-ay the cost of <br />any contribution. Any advance may be made subject to repaynreut, and ill that case shall be repaid <br />ill [lie mummer agreed upon by the advamciug Member, Associate Member or other public agency <br />and the Authority at the time of making the advance. <br />15. Fiscal Year, Accounts; Reports; Annual Budget Administrative Expenses <br />a. The Fiscal year of the Audtority shall be the period from January I o1' each year to <br />and including the lollowiug December 31, except for aury partial fiscal year resuhing from a change <br />55E -20 <br />