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<br />Oct 19 05 09:53a <br /> <br />SAN BRUNO CITY CLERK <br /> <br />1650 589 5941 <br /> <br />p.4 <br /> <br />$-6 <br /> <br />k. <br /> <br />Acquire, improve, hoJd, lease and dispose of real and personal properly as may be <br />necessary and appropriate in connection with the Administrative or Programmatic <br />needs ofHEAT-SMC. <br /> <br />1. <br /> <br />Issue and receive loans. <br /> <br />In. <br /> <br />Acquire such insurance protection as it deems necessary. <br /> <br />Adopt, as autholized by California law, ordinances and resolutions necessary to <br />can'y out the purposes of this Agreement. <br /> <br />n. <br /> <br />o. <br /> <br />Utilize and establish advisory committees or subcommittees whenever necessary. <br /> <br />p. <br /> <br />Adopt By-laws and such other rules and procedures as may be deemed necessary. <br /> <br />3. <br /> <br />Term and Termination <br /> <br />3.1 <br /> <br />This agreement shall be effective upon its execution by the County and at least three (3) <br /> <br />cities, at least 2 of which have an adopted housing element that the Department of Housing and <br />Community Development. has determined to be in substantial compliance with the requirements <br /> <br />of Alticle 10.6 (commencing with Section 65580) of Chapter 3 of Division 1 of Title 7 of the <br />Government Code (a "certifIed housing element"). <br /> <br />3.2 <br /> <br />This Agreement shall continue at least until. March 30, 2013, and thereafter shall continue <br /> <br />untiJ terminated or dissolved pursuant to Section 3.3 of this Agreement. However, in no event <br />shall the Members vote to terminate or dissolve the HEAT-SMC if its termination or dissolution <br /> <br />wou1d conflict with or violate the terms or conditions of any bonds, financial instruments, or <br />related documentation by or on behalf of the HEAT-SMC, including, without limitation, <br /> <br />indentures, resolutions, and letter of credit agreements. <br /> <br />3.3. This Agreement may be terminated by consent of all Member Agencies, and upon full <br />and complete liquidation of all liabilities, including, but not limited to any bonds. Upon the date <br />of termination (hereinafter 'Termination Date"), payment of any and an obligations and division <br />of any and all assets of the HEAT-SMC shall be condllcted subject to the then-applicable <br /> <br />requirements of the taw, pursuant to the following: <br /> <br />a. In the event of tennination of the HEAT-SMC where there is a successor public <br />entity that will conduct aJl of the activities of the HEAT-SMC and will assume all of its <br /> <br />Page 4 of 17 <br />