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the making of loans to the Members, and the acquisition and refunding of obligations issued by the Members to finance Public Capital Improvements. Section 2.02. Creation of Authority. Pursuant to the Act, there is hereby created a public entity to be known as the "City of Redwood City Public Financing Authority". The Authority shall be a public entity separate and apart from the Members, and shall administer this Agreement. Section 2.03. Commission. The Authority shall be administered by a Commission consisting of seven (7) Commissioners. The Mayor, Vice-Mayor, and members of the City Council of the City and the Chairman, Vice-Chairman, and Members of the governing body of the Agency ex officio shall constitute the Chairman, Vice-Chairman, and Commissioners of the Authority, respectively. The number of Commissioners may be changed by amendment of this Agreement. The Commission shall be called the "Commission of the City of Redwood City Public Financing Authority". All voting power of the Authority shall reside in the Commission. Section 2.04. Meetings of the CommiQAÏon. (a) Rerular Meetin!rs. The Commission shall provide for its regular meetings; provided, however, that at least one regular meeting shall be held each year. The date, hour and place of the holding of regular meetings shall be fixed by resolution of the Commission and a copy of such resolution shall be filed with each of the Members. (b) Special Meetin!rs. Special meetings of the Commission may be called in accordance with the provisions of Section 54956 of the Government Code of the State. (c) Call. Notice and Conduct of Meetin!rs. All meetings of the Commission, including without limitation, regular, adjourned regular and special meetings, shall be called, noticed, held and conducted in accordance with the provisions of Sections 54950 et seq. of the Government Code of the State. Section 2.05. Minutes. The Secretary shall cause to be kept minutes of the meetings of the Commission and shall, as soon as possible after each meeting, cause a copy of the minutes to be forwarded to each Commissioner and to each of the Members. Section 2.06. Voting. Each Commissioner shall have one vote. Section 2.07. Quorum; Required Votes; Approvals. Commissioners holding a majority of the votes shall constitute a quorum for the transaction of business, except that less than a quorum may adjourn from time to time. The affirmative votes of at least a majority of the Commissioners shall be required to take any action by the Commission. Section 2.08. Bylaws. The Commission may adopt, from time to time, such bylaws, rules and regulations for the conduct of its meetings as are necessary for the purposes hereof. -3-