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C:\Docum is and Setungs\=hurchM. al Sethngs \Temporary Intemet Files\OLKEBVPA Draft 7 clean.doc I I
<br />DRAFT 7clean
<br />- 1.2. HEAT -SMC shall be an entity which is separate from the parties to this agreement and
<br />shall be responsible for the administration of this agreement.
<br />1.3 The assets, rights, debts, liabilities, and obligations of HEAT -SMC shall not constitute
<br />assets, rights, debts, liabilities, or obligations of any of the Member Agencies. However, nothing
<br />in this Agreement shall prevent any Agency from separately contracting for, or assuming
<br />responsibility for, specific debts, liabilities, or obligations of HEAT -SMC, provided that both the
<br />Board and that Agency approve such contract or assumption.
<br />2. Powers. The HEAT -SMC is authorized, but is in no way required, to act in its own name
<br />on any or all of the following matters, as each Member could act separately, and as it deems in
<br />the best interest of its Members, to the extent permitted by any and all applicable laws, codes,
<br />ordinances, resolutions and regulations:
<br />a. Facilitate the acquisition, construction, financing, refinancing, operation,
<br />regulation, and maintenance of housing programs, projects and facilities by
<br />Member Agencies and others in the housing sector.
<br />b. Plan, study, and recommend proper and appropriate housing programs, projects
<br />and facilities, and management practices. Research and study issues related to
<br />housing, including without limitation workforce, affordable and special needs
<br />housing.
<br />C. Educate the public, its Member Agencies, and other agencies and entities as to
<br />housing programs, projects and facilities, including without limitation workforce,
<br />affordable and special needs housing.
<br />d. Provide for or enter into agreements to provide for financial, engineering, legal,
<br />audit, and any other professional services supporting any of the HEAT -SMC's
<br />programs or activities.
<br />e. Solicit, apply for, accept, and receive grants, gifts, donations, advances, and
<br />contributions.
<br />f. Hire agents and employees, including consultants and legal counsel.
<br />g. Sue and be sued in its own name.
<br />h. Incur and discharge debts, liabilities, and obligations.
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