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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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'rbc Aatiority sliall appoint nine (9) members of its Board to save oil an Executive <br />Committee. <br />b. Powers and Limitations <br />The l:xectrtive Conrniacc shall act ill an advisory capacity and make <br />recommendations to the Autuxity board. Duties will include, but not be limited to, review of the <br />quarterly and annual budgets, service as the Audit Committee for tie Autliolity, periodically <br />review this AgreemeuL; and complete any other tasks as may be assigned by die Board. The <br />Exccutivc Committee shall be subject to all linutatious imposed by this Agreement, other <br />applicable law, and resolutions of the Board. <br />n0111n1 <br />A majority of the Executive C,otilmittec shall coustitthte a gtioruin for transacting <br />tntsi less of (tic Executive Committee. <br />11. Disposition of Assets <br />Upon termination of this Agreement, all remaining assets and liabilities of tic Authority <br />sliall be distributed to the respective Members ill such manner as sliall be determined by the <br />Board and in accordance wide 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 obligations for those purposes. 'rhis Agreement sliall not be deemed to aunend or after the <br />terms of othher agreements among the Members or Associate Members. <br />13. Conflict of Interest Code <br />The Authority shall by resoluton adopt a Conflict of hiterest Code as required by law. <br />14. Contributions and Advances <br />Contributions or advances of public funds and of personnel, equipment or property may <br />be made to the Authority by ally Member, Associate Member or ally other public agency to <br />bIrtiCe the purpose of this Agreeuncut. Payment of public hinds may, be made to defray the cost of <br />any contribution. Any advance may be made subject to repayment, and ill that case shall be repaid <br />in the manner agreed upon by the advauciug Member, Associate iVlenibcr or other public agency <br />and ate ;Authority at is time of making dm advance. <br />15. Fiscal Year, Accounts; Reports; Annual Budget; Administrative Expenses <br />I <br />, The fiscal year of the Authority shall be the period Froiu January 1 of each year to <br />and uhcludiug the following December 31, except for any partial liscat year resulting trom a change <br />
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