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(b) The Treasurer-Controller of the Agency is designated as the public officer <br /> or person who has charge of, handles, or has access to any property of the Agency, and <br /> as such, shall file a fidelity bond with the Secretary of the Agency in an amount to be <br /> fixed by the Board. The cost of such bond shall be a proper charge against the Agency. <br /> To the extent permitted by an existing fidelity bond, the Treasurer-Controller may <br /> satisfy this requirement by filing a fidelity bond obtained in connection with another <br /> public office, if the amount of that bond equals or exceeds the bond amount established <br /> by the Board of Directors. <br /> <br /> ARTICLE 11 <br /> FISCAL YEAR <br /> <br /> The fiscal year of the Agency shall be the period from July 1 of each year through and <br />including the following June 30; provided, however, that if the date of this Agreement is other <br />than any July 1, the first fiscal year shah be the period from the date of this Agreement through <br />and including the following June 30. <br /> <br /> ARTICLE 12 <br /> ADMINISTRATION <br /> <br /> Section 12.01. Administrative Entity.. In accord with Section 6506 of the California <br />Government Code, the initial administrative entity of the Agency shah a California nonprofit <br />corporation established or selected for such purpose. <br /> <br /> Section 12.02. Duties of Administrative Entity: Delegation. The administrative entity <br />shah be responsible for implementation of the Program of the Agency. In carrying out its <br />responsibilities for administration of the Program, the administrative entity may contract with <br />others, deemed by it to be qualified, to perform some or aH of the administrative functions <br />required for implementation of the program. <br /> <br /> Section 12.03. Replacement of Administrative Entity. The Board may change the <br />administrative entity at its discretion. <br /> <br /> Section 12.04. Appointment of Underwriter~ J.K. Chilton & Associates, Inc. is hereby <br />appointed as underwriter of the Bonds issued by the Agency. <br /> <br /> ARTICLE 13 <br /> BONDS <br /> <br /> Section 13.01. Issuance of Bonds. The Agency shah have the power to issue Bonds or <br />other forms of indebtedness authorized by law, at any time, for the purpose of raising funds <br />necessary to carry out its powers and purpose under this Agreement. <br /> <br /> ARTICLE 14 <br /> AGREEMENT NOT EXCLUSIVE <br /> <br /> Section 14.01. Agreement Not ExclUsive. This Agreement is not the exclusive means <br />by which the Members may perform duties relating to housing imposed by law. Each of the <br /> <br /> 7 <br /> <br /> <br />