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funds, from whatever source, Auld, as such, shall have the powers, duties incl respollsibilitic•s <br />specified in Sec•tioli 6505.5 ol' the Act. The Executive Director, as Auditor, shall have the powers, <br />duties alid responsibilities specified ul Section 6505.5 of file Act. <br />C. Tlic. Legislative Advocate lir the Authority shall be the Rural County <br />Representatives of California. <br />d. "file. "Treasurer alid Auditor are public officers who have charge of, handle, or have <br />access to all property of' the Authority, and a bond for such officer ill the amount of at least one <br />hum1ml thousuld dollars (5100,000.0()) shall be obtaiiled at the expel►se of the Authority and <br />filed with the Executive Director. Sticl► bond may secure the faitl►ful performance of such <br />officer's duties with respect to another Public office if such bond in at least the sidle anlotult <br />specifically mciltiotls the office ol' file Authority as required herein. The Treasurer mid Auditor <br />shall cause periodic indepellclent audits to be made of* file Authority's books by a certified public <br />ac•eountalit, or public acc•ottlltat►t, iii compliance With Section 650.5 of the Act. <br />C. The business of' the Authority shall be conducted tinder the supervision of' the <br />Executive Director by RCRC personnel. <br />10. Executive Committee of the Authority <br />a. Collli)osltloll <br />The Authority shall appoint tlo fewer than lune (9) .incl 110 more than eleven (11) <br />members of its Hoard to serve otl au1 Executive Committee. The Chair awl Vice Chair of the <br />lutl►w its shall serve on the Executive Committee. <br />b. Powers allcl Limitations <br />The Executive Conllllitt.ee shall act in an advisory capacity mid Make <br />reconnneudations to the Authority Board. Duties ►%ill illclucle, but not be hillited to, review of -file <br />quarterly and au►lnial budgets, service as the Audit Committee for the Authority, periodically <br />review tills Agi-eelncilt., alld complete ally other tasks as may he asci coed by the Board. Tile <br />l:xec•tttivc Committee shall be subject to all limitations imposed by flies Agrectllc lit, other <br />applicable law, and resolutions of the Board. <br />C. Quorlim <br />A majority of the Executive Coimnittee shall constitute a quorum for transacting <br />business of the Executive Conurlittee. <br />11. Disposition of Assets <br />Upoll tennil►ation of* this Agrecinciit, all renaming assets alld liabilities of the Authority <br />ATTY/AGR/2016.086/CALIFORNIA HOME FINANCE AUTHORITY <br />REV: 04-29-16 FF <br />Page 8 of 14 <br />