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CALIFORNIA HOME FINANCE AUTHORITY JOINT EXERCISE OF POWERS OF AUTHORITY-2014
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CALIFORNIA HOME FINANCE AUTHORITY JOINT EXERCISE OF POWERS OF AUTHORITY-2014
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Last modified
12/22/2015 11:02:35 AM
Creation date
12/22/2015 10:51:14 AM
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Contracts
Company Name
CALIFORNIA HOME FINANCE AUTHORITY JOINT EXERCISE OF POWERS OF AUTHORITY
Contract #
A-2015-180
Agency
PUBLIC WORKS
Council Approval Date
8/4/2015
Destruction Year
0
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conservation and rericivable cuergy improvcmcrits to or oil real property <br />and ill buildiugs. The Authority may enter into one or more agrccmcuts, <br />including without limitation, participatiou agreements and implemeutatiou <br />agreements to implemcul such programs. <br />C. Sub ice[ to the applicable provisious of any iudeuturc or resolution providing for the <br />iuvestmcut of monies held thereunder, the Authority shall have the power to invest ally of its hinds <br />as dte Board deems advisable, in the same maluer and upon the same conditions as local agencies <br />pursuutt to Sections 53601 of the Government Codc of the State of Caliloritia. <br />l'. All property, ecluipntcut, supplies, funds and records old the Authority shat] be <br />owned by Else Authority, except as may be provided otherwise herein or by resolution of the <br />Board. <br />g. Pursuant to the provisious of Sectou 6508.1 of the Act, the debts, liabilities and <br />obligations of the Authority shall not be clebts, liabilities aril obligations of the Members or <br />Associate Members. Any Bouds, together with my interest and premium thercou, shall not <br />constitute debts, liabilities or obligations of any Menhber. The Members or Associate Members <br />hereby agree that au), such Bouds issued by the Authority shall riot constitute general obligations of <br />the Authority but shall be payable solely from the moucys pledged to the repayment of principal or <br />iriterest oil such Bonds under rte terms of the resolution, indenture, trust, agreemcut or otter <br />instrunheut pursuarst to which such Bouds are issued. Neither die Members or Associate <br />Members nor the Authority shall be obligated to pay the prutcipa l of or premium, if auty, or <br />interest on the Bouds, or otter costs incidental thereto, except from the revenues and funds <br />pledged therefor, awl neither the faith and credit uor the taxing power of the Members or <br />Associate Members or die Authority shall be pledged to the payment of rte principal of or <br />premium, if auty, or interest oil the Bouds, uor shall the Members or Associate Members of tic <br />Authority be obligated ill any manner to make, arty appropriation for such payment No covenant <br />OF agreemcut contained ill ally Boud shall be deemed to be a covenant or agreemcut of ally <br />Delegate, or any officer, agent or employee of die Authority ill an individual capacity, awl neither <br />the Board uor ahny officer ttcreol' executing the Bouds or ,usy document related thereto shall be <br />liable personally oil any Bowl or be subject to any personal liability or accountability by rcasou of <br />the issualce of any Bouds. <br />Governing Board <br />a. The Board shall consist of the nuxtber of Delegates equal to ouc representative <br />from each Mcmber. <br />b. The governing body ol' each Member shalt appoint one of its Supervisors to serve <br />as a Delegate ou the BOU6. A Member's appoiuuneut of its Delegate shall be delivered ill writrg <br />(which may be by cicctmuic maul) to the Authority and shall be effective until lie or site is replaced <br />by such governing body or no longer a Supervisor; any vacancy shall be filled by the governing <br />booty of the Member ill the samie ntahuter provided ill dais paragraph b.. <br />C. The governing body of each Member of the Board shall appoint a Supervisor as all <br />alternate to setve oil the Board ill the abscuce of the Delegate; the alternate may exercise all the <br />
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