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(5) Quorum.
<br />A majority of the Board shall constitute a quoruun for the
<br />transaction of business. No action may be taken by the Board except upon
<br />the affirmative vote of a majority of the Directors present at the meeting,
<br />except that less than a quorum may adjourn a meeting to another time and
<br />place.
<br />E. RULES AND REGULATIONS.
<br />The Authority may adopt, from time to time, by resolution of the Board such
<br />bylaws, policies or rules and regulations for the conduct of its meetings and affairs as
<br />may be required.
<br />Section 4. Powers.
<br />The Authority shall have the power, in its own name, to exercise the common powers of
<br />the Members and to exercise all additional powers given to a joint powers entity under any of the
<br />laws of the State of California, including, but not limited to, the Joint Exercise of Powers Act, for
<br />any purpose authorized under this Agreement. Such powers shall include the common powers
<br />specified in this Agreement and may be exercised in the manner and according to the method
<br />provided in this Agreement. The Authority is hereby authorized to do all acts necessary for the
<br />exercise of such power, including, but not limited to, any of all of the following: to make and
<br />enter into contracts; to employ agents and employees; to acquire, construct, improve, own,
<br />maintain and operate, or provide for maintenance and operation, and sell, lease, pledge, assign,
<br />mortgage or otherwise dispose, of any property, improvements, commodities, leases, contracts,
<br />receivables, bonds or other revenue streams or assets of any kind; to exercise the power of
<br />condemnation; to incur debts, liabilities or obligations; to receive gifts, contributions and
<br />donations of property, funds, services, and other forms of assistance from person, firms,
<br />corporations and any governmental entity; to sue and be sued in its own name; to establish and
<br />collect fees; to form public benefit nonprofit corporations or other affiliate entities to accomplish
<br />any of its purposes; to make grants, loans or provide other financial assistance to governmental,
<br />nonprofit and for profit organizations to accomplish any of its purposes; and generally to do any
<br />and all things necessary or convenient to accomplish its purposes. The boundaries of the
<br />Authority shall encompass the boundaries of all the Members and the powers of the Authority
<br />may be exercised anywhere within those boundaries or to the extent permitted by the laws of the
<br />State of California, including, but not limited to the Joint Exercise of Powers Act, outside of
<br />those boundaries, which may be outside of the State of California, provided that the power of
<br />condemnation may only be exercised within the jurisdictional boundaries of the Charter
<br />Members.
<br />Without limiting the generality of the foregoing, the Authority may issue or cause to be
<br />issued Bonds, and pledge any property, contracts or revenues as security to the extent permitted
<br />under the Joint Exercise of Powers Act, or any other applicable provision of law.
<br />OI ISUSA:76 1 1 03 270.3 PL 2015 -42 -42 [24113.doc] 5
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