|
a
<br /> (5) Quorum.
<br /> A majority of the Board shall constitute a quorum for the
<br /> transaction of business. No action may be taken by the Board except upon
<br /> the affirmative vote of a majority of the Directors present at the meeting,
<br /> except that less than a quorum may adjourn a meeting to another time and
<br /> place,
<br /> E. RULES AND REGULATIONS.
<br /> The Authority may adopt, from time to time, by resolution of the Board such
<br /> bylaws, policies or rules and regulations for the conduct of its meetings and affairs as
<br /> may be required.
<br /> Section 4. Powers.
<br /> The Authority shall have the power, in its own name, to exercise the common powers of
<br /> the Members and to exercise all additional powers given to a joint powers entity under any of the
<br /> laws of the State of California, including, but not limited to, the Joint Exercise of Powers Act, for
<br /> any purpose authorized under this Agreement. Such powers shall include the common powers
<br /> specified in this Agreement and may be exercised in the manner and according to the method
<br /> provided in this Agreement. The Authority is hereby authorized to do all acts necessary for the
<br /> exercise of such power, including, but not limited to, any of all of the following: to make and
<br /> enter into contracts; to employ agents and employees; to acquire, construct, improve, own,
<br /> maintain and operate, or provide for maintenance and operation, and sell, lease, pledge, assign,
<br /> mortgage or otherwise dispose, of any property, improvements, commodities, leases, contracts,
<br /> receivables, bonds or other revenue streams or assets of any kind; to exercise the power of
<br /> condemnation; to incur debts, liabilities or obligations; to receive gifts, contributions and
<br /> donations of property, funds, services, and other forms of assistance from person, firms,
<br /> corporations and any governmental entity; to sue and be sued in its own name; to establish and
<br /> collect fees; to form public benefit nonprofit corporations or other affiliate entities to accomplish
<br /> any of its purposes; to make grants, loans or provide other financial assistance to governmental,
<br /> nonprofit and for profit organizations to accomplish any of its purposes; and generally to do any
<br /> and all things necessary or convenient to accomplish its purposes. The boundaries of the
<br /> Authority shall encompass the boundaries of all the Members and the powers of the Authority
<br /> may be exercised anywhere within those boundaries or to the extent permitted by the laws of the
<br /> State of California, including, but not limited to the Joint Exercise of Powers Act, outside of
<br /> those boundaries, which may be outside of the State of California, provided that the power of
<br /> condemnation may only be exercised within the jurisdictional boundaries of the Charter
<br /> Members.
<br /> Without limiting the generality of the foregoing, the Authority may issue or cause to be
<br /> issued Bonds, and pledge any property, contracts or revenues as security to the extent permitted
<br /> under the Joint Exercise of Powers Act, or any other applicable provision of law.
<br /> OHSUSA:76 I 103270.3 PL 2015-42-42 [24113.docj 5
<br />
|