RES 84429 - Laserfiche WebLink

requirement by filing an official bond in at least said amount obtained in connection with another public office. (f) In lieu of the designation of a treasurer and auditor-controller as set forth in subsections (b) and (c) of this Section, the Board may appoint one of its officers or employees to either or both of such positions. The offices of treasurer and auditor-controller may be held by separate officers or employees of the Authority o~ combined and held by one officer or employee; provided that such person or persons shall comply with the duties and r~sponsibilities of such office or offices as set forth in the Joint Powers Law In the event the Board designates its ufficers ~r' e:ap!W~s !~ ~ili tile fdi~,.~i{~n:.~f tre~d~i ~; auditGr-~ont~-oller, or both. such o ffice~s o~" ~ml, i6~,~ ~ ~hall c~use an independent ~udit to be made by a certified public accountant, or public accountant, in compliance with Section 6505 of the Government Code of the State of California. (g) Ihe B,~i"o shat] ha,,e the power to appoint such othen officers and employees as it ma:~ deem necessa~ly and to retain independent counsel~ consultants and accouh SECTION ~L~! Ftsr~:'l To:.;- ii,",i~!s~ ,~;~d i2nti l chai'.ged by resoi~ition cd the i~oard. the fisca~ year of the Aud ~:,'i~Z. sh.}~i be the period from July 1 of each year to and includin9 the following ..~Lnie ~0. except for the first fiscal year which shall be the periGd from the effective date of this Agreement to 3une 30. 1985. SECTION 11 ~Ls~p_gsit~r2..~] ~§e~t~. In the event that Bonds are issued as provided in Section 12 hereof. then at tile end of the term hereof or upon the earlier termination of this Agreement all other assets of the Authority (but excluding any surplus money on hand). including all property acquired as a result of the joint exercise of powers under th~s Agreement, shall be distributed to each of the Cities, in propol'tion t~ the principal amount of home mortgages originally made in each such entity; any home mortgages held by the Authority shall be distributed to the such entity in which the property securing the home mortgages is located. In the event that Bonds a~e not issued, then all assets of the Authority shall be distributed to the F'espective grantors or assignors thereof. After the completion of the purpose of this Agreement, any surplus money on hand shall be returned to each of the Cities in proportion to their respective contributions made. SECTION 12 Bol,ds. i'he Authority, shall have pawer to issue Bonds in a~.ce~'d~nce with the provlsl!~n~ t)f the A,.t for the purpos~ of raising funds necessary to carry out its po,.~ers urlder this Agreement and to enter into appropriate agreements to seeore said Bonds. l'he A~thority shall also have the power to issue any other forms of ~ndebtedness authorized by the Act in accordance with the provisions of the Act for such purposes. SECTION 13. ~E~erl',Ll~_~e~ ~]~!v~. )'his Agreement shall not be exclusive, and each of the Cities expressly reserves its respective rights to carry out other home financing programs under the Act and to issue other obligations for such purposes