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CALIFORNIA PUBLIC FINANCE AUTHORITY-2015
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CALIFORNIA PUBLIC FINANCE AUTHORITY-2015
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Last modified
5/10/2016 3:10:44 PM
Creation date
5/10/2016 11:07:33 AM
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Contracts
Company Name
CALIFORNIA PUBLIC FINANCE AUTHORITY
Contract #
A-2016-014
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
1/19/2016
Destruction Year
0
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Section 10. Funds. <br />Subject to the applicable provisions of any Indenture, which may provide for a trustee or <br />other fiduciary to receive, have custody of and disburse Authority funds, the Treasurer of the <br />Authority shall receive, have the custody of and disburse Authority funds pursuant to the <br />accounting procedures developed under Sections 3.0 and 9, and shall make the disbursements <br />required by this Agreement or otherwise necessary to carry out any of the provisions of purposes <br />of this Agreement. <br />Section 11. Notices. <br />Notices and other communications hereunder to the Members shall be sufficient if <br />delivered to the clerk of the governing body of each Member; provided that, to the extent <br />permitted by law, the Authority may provide notices and other communications and postings <br />electronically (including, without limitation, through email or by posting to a website). <br />Section 12. Additional Members/Withdrawal of Members. <br />Qualifying public agencies may be added as parties to this Agreement and become <br />Charter Members upon; (1) the filing by such public agency with the Authority of an executed <br />counterpart of this Agreement, together with a copy of the resolution of the governing body of <br />such public agency approving this Agreement and the execution and delivery hereof; and (2) <br />adoption of a resolution of the Board approving the addition of such public agency as a Charter <br />Member. Upon satisfaction of such conditions, the Board shall file such executed counterpart of <br />this Agreement as an amendment hereto, effective upon such filing. <br />Qualifying public agencies may also be added as Non - Charter Members ( "Additional <br />Members ") of the Authority upon: (1) the filing by such public agency with the Authority of a <br />resolution of the governing body of such public agency requesting to be added as an Additional <br />Member of the Authority, and (2) adoption of a resolution of the Board approving the addition of <br />such public agency as an Additional Member. An Additional Member may limit in the <br />aforementioned resolution the scope of its Additional Membership to what is necessary or <br />appropriate to facilitate the financing or refinancing of one or more specified projects or <br />programs. <br />A Member may withdraw from this Agreement upon written notice to the Board; <br />provided, however, that at least one Member shall be a Charter Member and no such withdrawal <br />shall result in the dissolution of the Authority so long as any Bonds remain outstanding. Any <br />such withdrawal shall be effective only upon receipt of the notice of withdrawal by the Board, <br />which shall acknowledge receipt of such notice of withdrawal in writing and shall file such <br />notice as an amendment to this Agreement effective upon such filing. <br />Section 13. Indemnification. <br />To the full extent permitted by law, the Board may authorize indemnification by the <br />Authority of any person who is or was a Director or an officer, employee or other agent of the <br />Authority, and who was or is a party or is threatened to be made a party to a proceeding by <br />OHSUSA:76I103270.3PL2015 -42 -42 [24113,doc] <br />
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