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3hHW:JPI: 08,/03/84 2259T <br /> <br /> ~OINT EXERCISE OF POWERS AGREEMENT <br /> BETWEEN THE CITIES OF PLEASANTON AND SUISUN CITY <br />CREATING THE PLEASANTON-SUISUN HOME FINANCING AUTHORITY <br /> <br /> This agreement, dated as of August 15, 1984, by and between the CITY OF <br />SUISUN CITY, a municipal corporation and general law city duly organized and <br />existing under the Constitution and the laws of the State of California and the <br />CITY OF PLEASANTON, a municipal corporation and general law city duly organized and <br />existing under the Constitution and the laws of the State of California, <br /> <br />WIINESSETH: <br /> <br /> WHEREAS, the C~t:ies cf S,~isLin C'it~ and Pleasanton ("the Cities") are each <br />empowered by Part 5 of Diwsion 31 of ~he Heaith and Safety Code of the State of <br />California (the "Act") to issue revenue bonds for the purpose of financing the <br />construction, acquisition and rehabilitation of homes as authorized by the Act; <br /> <br /> WHEREAS, said Part 5 also provides that such powers may be exercised by an <br />agency created by a joint powers agreement under Article 1 (commencing with Section <br />6500) of Chapter 5 of Division 7 of Title I of the Government Code of the State of <br />California entered into by counties and/or cities for the express purpose of the <br />joint exercise of such powers; and <br /> <br /> WHEREAS, each of the Cities has determined that a joint exercise of powers <br />authority should be created to exercise their respective powers pursuant to the Act <br />jointly under said Article 1 for the purpose of financing home mortgages with <br />respect to property within the boundaries of each of the Cities; <br /> <br /> NOW, THEREFORE, the Cities, for and in consideration of the mutual premises <br />and agreements herein contained, do agree as follows: <br /> <br /> SECTION 1. Definitions. Unless the context otherwise requires, the terms <br />defined in this Section 1 shall for all purposes of this Agreement have the <br />meanings herein specified. <br /> <br /> Act means Part 5 (commencing with Section 52000) of Division 31 of the <br />Health an'~ Safety Code of the State of California, as now in effect. <br /> <br /> Authority means the Pleasanton-Suisun Home Financing Authority created by <br />this Agreement, <br /> <br /> Board means the governing board of the Authority as constituted under <br />Section 7 of this Joint Powers Agreement. <br /> <br /> Bonds nmans revenue bonds of the Authority authorized and issued pursuant to <br />the Act, including each and all series of revenue bonds, and shall also include, <br />except where the context shall require otherwise, any other limited obligations or <br /> <br /> <br />