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6.3.A. - Page 9 <br /> "Associate Member" means a county, city or other public agency which is not a voting <br /> member of the Rural County Representatives of California, a California nonprofit corporation <br /> ("RCRC"), with legal power and authority similar to that of the Members, admitted pursuant to <br /> paragraph 4.d. below to associate membership herein by vote of the Board. <br /> "Audit Committee" means a committee made up of the nine-member Executive <br /> Committee. <br /> "Authority' means California Home Finance Authority ("CHF"), formerly known as <br /> CRHMFA Homebuyers Fund or California Rural Home Mortgage Finance Authority. <br /> "Board"means the governing board of the Authority as described in Section 7 below. <br /> "Bonds" means bonds, notes, warrants, leases, certificates of participation, installment <br /> purchase agreements, loan agreements and other securities or obligations issued by the Authority, <br /> or financing agreements entered into by the Authority pursuant to the Act and any other obligation <br /> within the meaning of the teiui"Bonds" under the Act. <br /> "Delegate" means the Supervisor designated by the governing board of each Member to <br /> serve on the Board of the Authority. <br /> "Executive Committee" means the nine-member Executive Committee of the Board <br /> established pursuant to Section 10 hereof. <br /> "Member" means any county which is a member of RCRC, has executed this Agreement <br /> and has become a member of the Authority. <br /> "Obligations" means bonds, notes, warrants, leases, certificates of participation, installment <br /> purchase agreements, loan agreements and other securities or obligations issued by the Authority, <br /> or financing agreements entered into by the Authority pursuant to the Act and any other financial <br /> or legal obligation of the Authority under the Act. <br /> "Program" or "Project" means any work, improvement, program, project or service <br /> undertaken by the Authority. <br /> "Rural County Representatives of California" or "RCRC" means the nonprofit entity <br /> incorporated under that name in the State of California. <br /> "Supervisor" means an elected County Supervisor from an RCRC member county. <br /> 2. Purpose <br /> The purpose of the Authority is to provide financing for the acquisition, construction, , <br /> improvement and rehabilitation of real property in accordance with applicable provisions of law <br /> for the benefit of residents and communities. In pursuit of this purpose, this Agreement provides <br /> for the joint exercise of powers common to any of its Members and Associate Members as <br /> provided herein, or otherwise authorized by the Act and other applicable laws, including assisting <br /> Page 2 of 13 <br />