HOUSING AUTHORITY JOINT EXERCISE OF POWERS

Housing Authority The term "Housing Authority" shall mean the Housing Authority of the City of Pleasanton, a public body, corporate and politic, duly organized and existing under and by virtue of the laws of the State of California. LAN The term "Law" means the Housing Authorities Law of the State of California (being Chapter 1 of Part 2 of Division 24 of the Health and Safety Code of the State of California, as amended) and Article 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California, and all laws amendatory thereof or supplemental thereto. SECTION 2. PURPOSE This agreement is made pursuant to the Act and for the purpose of assisting the City in refinancing public capital improvements, including but not limited to refunding the 1915 Act improvement bonds (the "Prior Obligations") previously issued the City and to pay costs of issuance incurred in connection with the issuance, sale and delivery of the 1993 Series A and B Bonds. The Authority will carry out such purposes by exercising the powers referred to in the recitals hereof and described in Section 5 herein. SECTION 3. TERM Subject to the provisions of Section 16, this Agreement shall become effective as of the date hereof and shall continue in full force and effect until terminated by a supplemental agreement of the Housing Authority and the City; provided, SF,_179i47 1 A