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AgdaPkt 2016-04-25 Closed and Joint SA PFA
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AgdaPkt 2016-04-25 Closed and Joint SA PFA
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Last modified
9/27/2016 10:48:55 AM
Creation date
4/22/2016 3:39:15 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
4/25/2016
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6.3.A. - Page 11 <br /> a. To effectuate its purpose, the Authority shall have the power to exercise any and all <br /> powers of the Members or of a joint powers authority under the Act and other applicable <br /> provisions of law, subject, however, to the conditions and restrictions herein contained. Each <br /> Member or Associate Member may also separately exercise any and all such powers. The powers <br /> of the Authority are limited to those of a general law county. <br /> b. The Authority may adopt, from time to time, such resolutions,guidelines,rules and <br /> regulations for the conduct of its meetings and the activities of the Authority as it deems necessary <br /> or desirable to accomplish its purpose. <br /> c. The Authority shall have the power to finance the construction, acquisition, <br /> improvement and rehabilitation of real property, including the power to purchase, with the <br /> amounts received or to be received by it pursuant to a bond purchase agreement, bonds issued by <br /> any of its Members or Associate Members and other local agencies at public or negotiated sale, for <br /> the purpose set forth herein and in accordance with the Act. All or any part of such bonds so <br /> purchased may be held by the Authority or resold to public or private purchasers at public or <br /> negotiated sale. The Authority shall set any other telins and conditions of any purchase or sale <br /> contemplated herein as it deems necessary or convenient and in furtherance of the Act. The <br /> Authority may issue or cause to be issued Bonds or other indebtedness, and pledge any of its <br /> property or revenues as security to the extent permitted by resolution of the Board under any <br /> applicable provision of law. The Authority may issue Bonds in accordance with the Act in order <br /> to raise funds necessary to effectuate its purpose hereunder and may enter into agreements to <br /> secure such Bonds. The Authority may issue other foul's of indebtedness authorized by the Act, <br /> and to secure such debt,to further such purpose. The Authority may utilize other foul's of capital, <br /> including, but not limited to, the Authority's internal resources, capital markets and other forms of <br /> private capital investment authorized by the Act.. <br /> d. The Authority is hereby authorized to do all acts necessary for the exercise of its <br /> powers,including,but not limited to: <br /> (1) executing contracts, <br /> (2) employing agents, consultants and employees, <br /> (3) acquiring, constructing or providing for maintenance and operation of any <br /> building,work or improvement, <br /> (4) acquiring, holding or disposing of real or personal property wherever <br /> located,including property subject to mortgage, <br /> (5) incurring debts,liabilities or obligations, <br /> (6) receiving gifts, contributions and donations of property, funds, services and <br /> any other foul's of assistance from persons, firms, corporations or <br /> governmental entities, <br /> (7) suing and being sued in its own name, and litigating or settling any suits or <br /> claims, <br /> (8) doing any and all things necessary or convenient to the exercise of its <br /> specific powers and to accomplishing its purpose <br /> (9) establishing and/or administering districts to finance and refinance the <br /> acquisition, installation and improvement of energy efficiency, water <br /> Page 4 of 13 <br />
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