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512 <br />C:\Dmumeniiand Settings\mchurch%mal Settings \Tempomry lnt ct Files\OL8:E8VPA Draft 7 clwn.doc <br />DRAFT 7clean <br />i. Issue bonds or notes and associated covenants, for designated purposes, subject to <br />the provisions and limitations of the California Government Code. <br />j. Acquire or protect any necessary security or leasehold interests involved in loans, <br />bonds, notes, or other financing methods implemented to carry out the purposes of <br />this Agreement. <br />k. Acquire, improve, hold, lease and dispose of real and personal property as may be <br />necessary and appropriate in connection with the Administrative or Programmatic <br />needs of HEAT -SMC. <br />1. Issue and receive loans. <br />m. Acquire such insurance protection as it deems necessary. <br />n. Adopt, as authorized by California law, ordinances and resolutions necessary to <br />carry out the purposes of this Agreement. <br />o. Utilize and establish advisory committees or subcommittees whenever necessary. <br />P. Adopt By -laws and such other rules and procedures as may be deemed necessary. <br />3. Term and Termination <br />3.1 This agreement shall be effective upon its execution by the County and at least three (3) <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 />of Article 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 />3.2 This Agreement shall continue at least until March 30, 2013, and thereafter shall continue <br />until 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 />would 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 />indentures, resolutions, and letter of credit agreements. <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 />