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JOINT EXERCISE OF POWERS AGREEMENT <br /> THIS AGREEMENT, dated as of June 29, 1993, by and <br /> between the CITY OF PLEASANTON, a general law city duly organized <br /> and existing under the Constitution and laws of the State of <br /> California (the "City") , and the HOUSING AUTHORITY OF THE CITY OF <br /> PLEASANTON, a public body, corporate and politic, duly organized <br /> and existing under the laws of the State of California (the <br /> "Housing Authority") , <br /> WHEREAS, Articles 1 through 4 (commencing with <br /> Section 6500) of Chapter 5 of Division 7 of Title 1 of the <br /> Government Code of the State of California (the "Act") authorize <br /> the City and the Housing Authority to create a joint exercise of <br /> powers entity (the "Pleasanton Joint Powers Financing Authority" <br /> or the "Authority") which has the power to jointly exercise any <br /> powers common to the City and the Housing Authority and to <br /> exercise the powers granted to it under the Act; <br /> WHEREAS, the City and the Housing Authority are each <br /> empowered by law to undertake certain projects and programs; <br /> WHEREAS, the City is authorized to buy, sell and lease <br /> property and to issue bonds, expend bond proceeds, and borrow and <br /> loan money for certain public purposes pursuant to the Government <br /> Code of the State of California; <br /> WHEREAS, the Housing Authority is authorized to buy, <br /> sell and lease property and to issue bonds, expend bond proceeds, <br /> and borrow and loan money for any of its corporate purposes <br /> sF2-17967.1 <br />