Agmt91 JPA City and Redevelopment Agency

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conditions as local agencies, pursuant to Section 53601 of the Government Code of the State; (i) to apply for letters of credit or other form of credit enhancement in order to secure the repayment of its Bonds and enter into agreements in connection therewith; 0) to carry out and enforce all the provisions of this Agreement; (k) to make Loans to or otherwise acquire obligations issued by any Member; and (1) to exercise any and all other powers as may be provided in the Act, including but not limited to powers granted under the Bond Law. Section 4.04. Restrictions on Exercise of Certain Powers. The powers of the Authority shall be exercised in the manner provided in the Act and in the Bond Law, and, except for those powers set forth in the Bond Law, shall be subject (in accordance with Section 6509 of the Act) to the restrictions upon the manner of exercising such powers that are imposed upon the City in the exercise of similar powers. Section 4.05. Obligations of Authority. The debts, liabilities and obligations of the Authority shall not be the debts, liabilities and obligations of any of the Members. ARTICLE V 1 1 1 1 ' ; 1: 1 1; N�IdI Y111►17��lllul�aDl.' Section 5.01. Assumption of Responsibilities By the Authority. As soon as practicable after the date of execution of this Agreement, the Commissioners shall give notice (in the manner required by Section 2.04) of the organizational meeting of the Commission. At said meeting the Commission shall provide for its regular meetings as required by Section 2.04. Section 5.02. Delegation of Powers. Each of the Members hereby delegates to the Authority the power and duty to acquire and to finance, by lease, lease -purchase, installment sale agreements, loan agreements or otherwise, such Public Capital Improvements as are necessary or convenient for the purposes of the Members. Section 5.03. Credit to Members. All accounts or funds created and established pursuant to any trust agreement or indenture to which the Authority is a party, and any interest earned or accrued thereon, shall inure to the benefit of the respective Members for which such funds or accounts were created. ARTICLE VI ACCOUNTS AND REPORTS: FUNDS Section 6.01. Contributions. The Members may in the appropriate circumstance when required hereunder: (a) make contributions from their treasuries for the purposes set forth herein, (b) make payments of public funds to defray the cost of such purposes, (c) make advances of public funds for such purposes, such advances to be repaid as provided 0