Agmt16 Golden State Finance Authority JPA

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h. The Board may establish other committees as it deems necessary for any lawful purpose; such committees are advisory only and may not act or purport to act on behalf of the Board or Ilse Audiority. i. The Board shall develop, or cause to be developed, aiid review, rnodiljy as necessary, wid adopt each Prograiii. S. Meetinp of the Board a. The Board sli<all meet at least once aluit►ally, but may meet more lrequctitl), upon (-all of .lily officer oras prodded by resolution of the Board. b. Meetilrgs of the Board shall be called, noticed, lielcl and conducted pursuant to the provisions of the Ralph M. Brower Act, Chapter 9 (comincircitig with Sectiotl 5 4950) of Part I of Divisiou l of Title 5 of the Goverimicia Code of dic State of CaWorrlia. C. The Secretai), of tic Authority shall cause itiilnnes of all meetings of the. Board to be taken .cid distributed to each Member as soon as possible afier each meeting. d. The lesser of' tivehe (ll) Delegates or a majority of the cumber of' current I)eleptes shall cotrstitute a quorurn for tr uisactillg business at any meeting of tlie. Board, except that less than it (piorum may act to adjourn it rrrectillg. Each Delegate shall have one vote. C. Meetings may be lielcl at any location dcsipiatcd in notice properly;ivell for it 111eetlllg Gild pray he coliductcd by telephonic or similar meads in any Malmer othcnvlsc allowed by law. 9. Officers; Duties; Official Bonds a. The Board shall elect it chair and vice chair from among the I)elegatcs at the Board's a►urual meeting who shall sere a term of one (1) year or until their respective successor is elected. The chair shall conduct the uleetitlgs of dic Board aild pci-form such other duties as may be specified by resolution of the Board. The vice chair shall perlornl stic•h duties in the absence or in the event of file imavailability of tlic chair. b. The Board shall cmitract annually it•itl► RCRC to admimister the N eemew and to provide administrative services to the Authority, alid the President and Chief ExCclltive ( )Nicer 01' RCRC sliall sere c•.c ollictco as Executive Director, Scc•rctarv, Treasurer, and Auditor of the Authority. As chief executive of' the Authority, the Executive Director is authorized to execute contracts alld other obligations of' tlic Authority, unless prior hoard approval is required by it third parte, by law or by Board speciticatiou, a.tid to perform other duties specified by the Board. The Executive Director Ilia), appoint such other ofliccrs as may be required fi>r the orderl), coucluc•t of' the Authority's business and allairs who shall serve at [lie pleasure of' the Executive Director. SLING •t to the applicable provisions ol'airy iudeuture or resolution proN *(fill(, for a trustee or other lisc•al agent, the IIxecutivc Director, as "treasurer, is designated as the custodian of tlu• Authority's ATTY/AGR/2016.086/CALIFORNIA HOME FINANCE AUTHORITY REV: 04-29-16 FF Page 7 of 14