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Board The term "Board" shall mean the governing board of directors of the Agency as described in Article 8 hereof. Bonds The term "Bonds" shall mean revenue bonds, notes, certificates of participation, or other evidences of indebtedness of the Agency, authorized and issued pursuant to law. Members The term "Members" shall mean the governmental entities jointly exercising power through, and which are signatory to, this Agreement, and shall include both Voting Members and Associate Members. The Members may also be referred to as the "Cities" or "Counties". Program The term "Program" shall mean the Agency's activity of furthering home ownership in the geographical area of the Members signatory to this Agreement and of financing other capital improvements, through the sale of revenue bonds, the purchase, construction or rehabilitation of housing or other capital improvements, the entering into of leases, the sale of housing, the provision of low- down payment mortgages for buyers, and the exercise of any other powers available to the Agency under Article 2 or Article 4 of the Act. Voting Members The term "Voting Members" shall mean those Members identified in Section 3.02 as such, and which shall be entitled to appoint a representative to serve on the Board as a voting member. Section 1.02. Captions and Headings. Captions and headings used herein are for convenience of reference only, do not define or limit the scope of any provision hereof, and are not to be considered in construing this Agreement. ARTICLE 2 PURROSE Section 2.01. Purposes of Agreement and Agency. This Agreement is made pursuant to the Act for the joint exercise of certain powers common to the Members. The Members are empowered by the laws of the State of California to exercise powers as specified in the Recitals. It is also the purpose of this Agreement to provide for the inclusion at a subsequent date of such additional Members as may desire to become signatories to this Agreement and members of the Agency. The purpose of the Agency is to carry out the Program for the public good and for the residents who will benefit from the increased availability of housing affordable for purchase by them. ARTICLE 3 MEMBERSHIP; WITHDRAWAL Section 3.01. Contract With All Other Members. Each Member certifies that it intends to and does contract with all other Members which are signatories to this Agreement and with 2