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JOINT E~ERCISE OF POWERS AGREEMENT <br /> <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 /> <br /> WHEREAS, Articles I through 4 (commencing with <br /> <br />Section 6500) of Chapter 5 of Division 7 of Title i 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 /> <br /> WHEREAS, the City and the Housing Authority are each <br />empowered by law to undertake certain projects and programs; <br /> <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 /> <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 /> <br /> <br />