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(4) Minutes.
<br /> The Secretary of the Authority shall cause to be kept minutes of the
<br /> regular, adjourned regular, special, and adjourned special meetings of the
<br /> Board and shall, as soon as possible after each meeting,cause a copy of the
<br /> minutes to be forwarded to each Director.
<br /> (5) Quorum.
<br /> A majority of the Board shall constitute a quorum for the transaction
<br /> of business. No action may be taken by the Board except upon the
<br /> affirmative vote of a majority of the Directors present at the meeting,except
<br /> that less than a quorum may adjourn a meeting to another time and place.
<br /> E. RULES AND REGULATIONS.
<br /> The Authority may adopt, from time to time, by resolution of the Board such
<br /> bylaws,policies or rules and regulations for the conduct of its meetings and affairs as may
<br /> be required.
<br /> Section 4. Powers.
<br /> The Authority shall have the power, in its own name, to exercise the common powers of
<br /> the Members and to exercise all additional powers given to a joint powers entity under any of the
<br /> laws of the State of California, including, but not limited to, the Joint Exercise of Powers Act, for
<br /> any purpose authorized under this Agreement. Such powers shall include the common powers
<br /> specified in this Agreement and may be exercised in the manner and according to the method
<br /> provided in this Agreement. The Authority is hereby authorized to do all acts necessary for the
<br /> exercise of such power,including,but not limited to,any of all of the following:to make and enter
<br /> into contracts;to employ agents and employees;to acquire, construct,improve,own,maintain and
<br /> operate, or provide for maintenance and operation, and sell, lease, pledge, assign, mortgage or
<br /> otherwise dispose, of any property, improvements, commodities, leases, contracts, receivables,
<br /> bonds or other revenue streams or assets of any kind; to exercise the power of condemnation; to
<br /> incur debts, liabilities or obligations; to receive gifts, contributions and donations of property,
<br /> funds, services, and other forms of assistance from person, firms, corporations and any
<br /> governmental entity; to sue and be sued in its own name; to establish and collect fees; to form
<br /> public benefit nonprofit corporations or other affiliate entities to accomplish any of its purposes;
<br /> to make grants,loans or provide other financial assistance to governmental,nonprofit and for profit
<br /> organizations to accomplish any of its purposes; and generally to do any and all things necessary
<br /> or convenient to accomplish its purposes. The boundaries of the Authority shall encompass the
<br /> boundaries of all the Members and the powers of the Authority may be exercised anywhere within
<br /> those boundaries or to the extent permitted by the laws of the State of California, including, but
<br /> not limited to the Joint Exercise of Powers Act,outside of those boundaries, which may be outside
<br /> of the State of California,provided that the power of condemnation may only be exercised within
<br /> the jurisdictional boundaries of the Charter Members.
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<br /> 4130-8559-5173.3
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