RES 18-992 - Laserfiche WebLink

d. The Treasurer and Auditor are public officers who have charge of, handle, or have access to all property of the Authority, and a bond for such officer in the amount of at least one hundred thousand dollars ($100,000.00) shall be obtained at the expense of the Authority and filed with the Executive Director. Such bond may secure the faithful performance of such officer's duties with respect to another public office if such bond in at least the same amount specifically mentions the office of the Authority as required herein. The Treasurer and Auditor shall cause periodic independent audits to be made of the Authority's books by a certified public accountant, or public accountant,in compliance with Section 6505 of the Act. e. The business of the Authority shall be conducted under die supervision of the Executive Director by RCRC personnel. 10. Executive Committee of the Authority a. Composition The Authority shall appoint no fewer than nine (9) and no more than eleven (11) members of its Board to serve on an Executive Comnmittee. The Chair and Vice Chair of the Authority shall serve on the Executive Committee. b. Powers and Limitations The Executive Committee shall ad in an advisory capacity and make recommendations to the Authority Board. Duties will include, but not be limited to, review of the quarterly and annual budgets, service as the Audit Coinrnittee for the Authority, periodically review this Agreement; and complete any other tasks as may be assigned by the Board. The Executive Committee shall be subject to all limitations imposed by this Agreement, oilier • applicable law,and resolutions of the Board. c. Quorum A majority of the Executive Committee shall constitute a quorum for transacting business of the Executive Committee. 11. Disposition of Assets • Upon termination of this Agreement, all remaining assets and liabilities of the Authority shall be distributed to the respective Members in such manner as shall be determined by the Board and in accordance with the law. 12. Agreement Not Exclusive; Operation in Jurisdiction of Member • This Agreement shall not be exclusive, and each Member expressly reserves its rights to carry out other public capital improvements and programs as provided for by law and to issue other obligations for those purposes. This Agreement shall not be deemed to amend or alter the e Executive Director,.as Treasurer,is designated as-the custodian of the Authority's funds, from whatever source, and, as• such, shall have the powers, duties and responsibilities • specified in Section 6505.5 of the Act. The Executive Director, as Auditor, shall have the powers, duties and responsibilities specified in Section 6505.5 of the Act. • c. . The Legislative Advocate for the Authority shall be the Rural County Representatives of California. The Board shall develop, or cause to be developed, and review, modify as necessary,and adopt each Program. • of the Authority in an individual'capacity, and neither • the Board_nor any officer thereof executing the Bonds-or any documentrelated thereto shall be - liable personally on any Bond-or be subject to any personal liability or accountability by reason of the issuance of any Bonds. WHEREAS, the City will not be responsible for the conduct of any special tax proceedings; the levy and collection of special taxes or any required remedial action in the case of delinquencies in the payment of any special taxes in connection with the District.