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..s .�,Q- i-� <br /> Oct 19 05 09:53a SRM HRUMO CITY CLERK 1 650 5B9 5941 p. <br /> 9,�-� <br /> k. Acquire, improve, hold, lease And dispose of reat and personal property as may be <br /> necessary and appropriate in connecdon with the Administrative or Programmatic <br /> needs of HEAT-SMC. <br /> I. Issue and receive loatis. <br /> rn. Acquire such insurance protection as it dee�ms necessary. <br /> n. Adopt, as authorized by California ]aw, ordintvices and resolutions ncccssary to <br /> catry out the putposes of this Agitemcnt. <br /> o. Utilize and estabiish adviso�y cornmittees or subcommittees whenever necessary. <br /> p. Adopt By-laws and such other rtiles and procedures �s may be deemed necessary. <br /> 3. Term and Termination <br /> 3.1 This a,��eement shaIl be effective upon its execution by the County and flt le�est threc (3) <br /> cities, �t fe�st 2 of which have an adopted housing element that the Depart�nent of Housing and . <br /> Community Development.has determined to be in substlntial compIiance with the requirements <br /> of Article 10.6 (commencing �vitlt Section 65�50) of Chapter 3 of Division 1 of Title 7 of the <br /> Government Code (a "certiFed housing element'�. � <br /> 3.2 This Agreement ahall continuc at least until.Mnrch 30, 2013, and thereafter sha11 continue <br /> until tetrninated or dissolvcd pursulnt t� Section 3.3 of this Agreement. However, in no event <br /> shal] the Ulemlxrs vote to terminace or dissolve the HEAT-SMC if its termination or dissolution <br /> �vould conflict with or violate the te�7ns or conditions of any bonds, fina��cial instrumenis, or <br /> re►ated documentation by or on behalf of tl�e HEAT-SMC, including, without Iinutation, <br /> indentw•es, resolutions, and lettcr of credit agreements. <br /> 3.3. This Agreement may be terminated by consent of a1] Member A�encies, and upon full <br /> and complete liquidation of �Il liabilities, including, but not iimited to any bonds. Upon the date <br /> of termina[ion (hereinafter "Termination Date"), payment of any and all obligadons and division <br /> of any and alI assets of the HEAT-SMC shall be conducted subject to the lhen-applicable <br /> requirements of the law, p��rsuant to the following; <br /> a. In the event of termination of the HEAT-SMC whe�� there is a successor public <br /> entity thai will conduct nll of the activities of the HEAT-SMC and �vil] assume al] af its <br /> Paee 4 of t7 <br />