Agmt16 Golden State Finance Authority JPA

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2. Purpose The 1ml-pose of tine Authority is to provide fitna.ltcinlg lir the acquisition, c•ollstnictioll, improvement and rehabilitation of real property in accordance tvidt applicable provisions of law for (lie benefit of resiclelnts and connnunities. In pursuit ol- this purpose, this Agreement provides for line joint exercise of' powers common to any, of' its Members anul Associate Mennbers as provided herein, or othenvise authorized by the Act and other applicable laws, uic•luding assisting in financing as authorized herein, jointly exercised in the manner set fi)rdi hereui. 3. Principal Place of Busmess The pruic•ipal office of the Authority shall be 1215 K Street, Suite 1650, Sacrantlento, California 95814. 4. Creation of Authority; Addition of Members or Associate Members a. The Atttlnority is licreby created pursuaant to the Act. As provided in the Act, tine Authority shall be a public entity separate and distinct from the Nlcunl)ers or Associate Members. b. The Authority will cause a notice of this AgTeetnent or any alnenclnnent hereto to be prepared atld tiled with the ollice of- the Secret.au-y of State of Calilorinia in a timely lashion ill file manner set forth in Section 6503.3 ofthe Act. C. A county- that is a nnelnber of RCRC may petition to become a member of the Audio -ity by submitting to the Board a resolution or evidence of other formal action taken by its governing body adopting this Agreenneilt. The Board shall review the petition tier membership and shall vote to approve or disapprove the petition. Il the petition is approved by a majority of the Board, such county shall imnnecliately become a Member of the Authority. d. .%nn Associate ;Membri- may be added to tlne Authority upon the affirnnative approval of' its respective governing board and pursu.unt to action by the Authority Board upon such terms and conditions, and mth such rights, privileges and responsibilities, as may be established frotnl tiluc to tittne by the Boat -d. Such terms and conditions, and rights, privileges anld responsibilities 11UN, v?uV anion, the associate Members. Associate llenlbers shall he entitled to participate ill o11C or more programs of the Authority as determined by the Board, but shall not be voting nnennbers of the Board. -I'll(: Executive Direclor of' the .Authority shall enforce the terms and conditions for prospective Associate Members to the authority as provided by resolution of- dic Board anti as arnendcd from tunes to tunue by the Board. Changes in the terms incl conditions for Assoc•iatc• Membership by (lie Board will not constitute all alnendtnnent of' this Agp-eetnnetnt. 5. Term and Termination of Powers ATTY/AGR/2016.086/CALIFORNIA HOME FINANCE AUTHORITY REV: 04-29-16 FF Page 3 of 14