RES 99102 - Laserfiche WebLink

Members reserves the right to carry out other housing financing programs, to issue other obligations, and to form other joint powers authorities to perform such duties. Section 14.02. Affect On Other Agreement.~ This Agreement does not alter or modify the terms of other agreements which may exist between the Members except as expressly provided herein. ARTICLE 15 CONTRIBUTIONS, ADVANCES, PRIOR EXPENSES Section 15.01. Contribution~S and Advan~;eS. Contributions or advances of public funds and of personnel, services, equipment or property may be made to the Agency by any Member for any of the purposes of this Agreement. Funds collected from participating developers, lenders, or others may be used to defray the cost of any such contribution. An advance may be made subject to repayment and in such case shah be repaid if subsequently approved by the Agency. If the repayment is approved by the Agency, the manner of repayment shall be as agreed upon by the contributing Member and the Agency at the time of the advance. Notwithstanding any other contrary provision of this Agreement, no Member shall be obligated to make contributions to the Agency, except as may be required pursuant to Section 16.02~ or Section 18.02 hereof. Section 15.02. ExpenseS. Expenses incurred prior to a Bond sale, such as the costs of a Bond rating, printing an official statement and a preliminary official statement, a market study, a feasibility study, attorneys' fees, or other prior expense, shall be charged as costs of issuance of the bonds, payable from the proceeds of the sale of such Bonds. ARTICLE 16 ACCOUNTING AND REPORTING Section 16.01. Accounting; Inspection by Members. The Agency shall establish and maintain such funds and accounts as may be required by generally accepted accounting practice and by any provision of any resolution or indenture securing the Bonds of the Agency. The books and records of the Agency shah be open to inspection by the Members at a reasonable times. Section 16.02. AnnUal AUdit. The A~ency shah be responsible for the strict accountability of all funds and the reporling of all receipts and disbursements. Pursuant to Section 6506 of the Act, the Agency shah cause an independent audit by a certified public "- accountant to be made of its books and accounts each ear. The minimum requirements of the audit shall be those prescribed by the State Controller ~r special districts under Section 26909 of the California Government Code or its successor statute and shall conform to generally accepted auditing standards. The audit shall be provided to the Members within five months after the close of each fiscal year. Any cost of the audit, including contracts with certified public accountants, shah be borne by the Agency and shah be a charge against any unencumbered funds of the Agency available for such purpose. To the extent that the Agency does not have adequate hands to pay the cost of the audit, the Members shah bear the cost of any such deficiency equally. Section 16.03. Inspection by BondhOlderS. All the books, records, accounts and files referred to in this Section shall be open to the inspection of holders of the Bonds to the extent and in the manner provided in any resolution or indenture providing for the issuance of Bonds. 8