Laserfiche WebLink
conservation and renewable energy improvements to or on real property <br /> and in buildings. The Authority may enter into one or more agreements, <br /> including without limitation, participation agreements and implementation <br /> agreements to implement such programs. <br /> e. Subject to the applicable provisions of any indenture or resolution providing for the <br /> investment of monies held thereunder, the Authority shall have the power to invest any of its funds <br /> as the Board deems advisable, in the same manner and upon the same conditions as local <br /> agencies pursuant to Section 53601 of the Government Code of the State of California. <br /> f. All property, equipment, supplies, funds and records of the Authority shall be <br /> owned by the Authority, except as may be provided otherwise herein or by resolution of the <br /> Board. <br /> g. Pursuant to the provisions of Section 6508.1 of the Act, the debts, liabilities and <br /> obligations of the Authority shall not be debts, liabilities and obligations of the Members or <br /> Associate Members. Any Bonds, together with any interest and premium thereon, shall not <br /> constitute debts, liabilities or obligations of any Member. The Members or Associate Members <br /> hereby agree that any such Bonds issued by the Authority shall not constitute general obligations <br /> of the Authority but shall be payable solely from the moneys pledged to the repayment of principal <br /> or interest on such Bonds under the terms of the resolution, indenture, trust, agreement or <br /> other instrument pursuant to which such Bonds are issued. Neither the Members or <br /> Associate Members nor the Authority shall be obligated to pay the principal of or premium, <br /> if any, or interest on the Bonds, or other costs incidental thereto, except from the revenues and <br /> funds pledged therefor, and neither the faith and credit nor the taxing power of the Members <br /> or Associate Members or the Authority shall be pledged to the payment of the principal of or <br /> premium, if any, or interest on the Bonds, nor shall the Members or Associate Members of the <br /> Authority be obligated in any manner to make any appropriation for such payment. No covenant <br /> or agreement contained in any Bond shall be deemed to be a covenant or agreement of any <br /> Delegate, or any officer, agent or employee of the Authority in an individual capacity, and neither <br /> the Board nor any officer thereof executing the Bonds or any document related thereto shall be <br /> liable personally on any Bond or be subject to any personal liability or accountability by reason of <br /> the issuance of any Bonds. <br /> 7. Governing Board <br /> a. The Board shall consist of the number of Delegates equal to one representative <br /> from each Member. <br /> b. The governing body of each Member shall appoint one of its Supervisors to serve <br /> as a Delegate on the Board. A Member's appointment of its Delegate shall be delivered in writing <br /> (which may be by electronic mail)to the Authority and shall be effective until he or she is replaced <br /> by such governing body or no longer a Supervisor; any vacancy shall be filled by the governing <br /> body of the Member in the same manner provided in this paragraph b.. <br /> c. The governing body of each Member of the Board shall appoint a Supervisor as an <br /> alternate to serve on the Board in the absence of the Delegate; the alternate may exercise all <br /> the <br />