Consenting to Inlusion of Properties Within the City's Jurisdiction in the California Home Finance Authority Program

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in accouutitu; based ou a diltcreul fiscal year previously b. Prior to the betvniug or each lisral year, tine Board shall adopt a budget for file succeeding fiscal year. C. The Authority shall establish and maintain such Funds avid accounts as may be required by generally accepted ac coundug principles, The books and rvconls of the Authority are public records wd shall he open to inspection at all reasonable times by each Mender and its representatives. d. The Auditor shall cipher make, or contract with a certified public ac•couutut or public ac•couutam to mare, au annual audit of the accounts and records or tic Authority. The mininnm requirements or the audit shall be those prescribed by the State Coutroller for special districts under Section 2009 of the Government Code of the Strue of California, and shall eoulbrnl to gcuctally arceptcal auclitivig standards. When au audit or acrouias and records is uradc by a certified public accountant or public accountant, a report thereol'shall be filed as a public record wide each Mcmber (aud also with the auditor of Swratucltto County as (he county in which (he Authority's office is located) within 12 monks after the end of the fiscal year. C. In wry year in which the mutual budget of the Authority does not exceed live thousand dollars (,",5,000.00), dte Board may, Illicit unanimous approval or the Boni, replace the annual audit with all ensuing one -year period, but in uo event for a period longer Ihatn two fiscal Years. 16, Duties of Members or Associate Membm; Breach If any Member or Associae Member shall default in performing any covenant conWitod heroin, such default shad not excuse taut Mcmber or Associate Member from fulfilling its other obliptions hcreuuder, and such defaulting Member or Associate Member shall remain liable fix the performance orall covenants hereof' Latch Member or Associate Member hereby declares that d s Agreement is cwwcd into for lac benefit al' the Authorily created hereby, and each Member or Associate Member herby grants to the Authority tie right to enforce, by whatever lawful means the Authority deems appropriate, all or the obliplious or each or the parties hereunder. i'a•h will all of the remedies given to the Authority hereunder or by any bay now or herea'ler enacted are cumulative, and the exercise or oic right or remedy shall not impair the right of tau Authority to any or all other remedies. 17. Indemnification To the full extent permitted by buy, the Board may audroirc indenuhilicatiou by Ilse Authority orally persou wlto is or was a Boa rit Delegate, alternate, officer, consultant, employee or other ;%scut or the Authority, anal who vral or is a party or is darca(encd to lie maade a 1)1%1)' to it proceeding by reason of (hc I'a•t that such person is or tuts such a Deleptc, alterote, officer, consultant, employee or odor agent or the Authority. Such indemnification may he trade against expenses, Judgments, lines, sculcmcufs and other aunouuts actually :uxl reasonably incurred in couuectiou with such proceeding, if'suri person acted in good Nflt and in a maumer such person reasonably believed to be iu the best interests of the Authority avid, ilk the case or it crinnival Resolution No. 2015 -045 Page 12 of 16