Laserfiche WebLink
<br />CALIFORNIA HOME FINANCE AUTHORITY AMENDED AND RESTATED <br />JOINT EXERCISE OF POWERS AGREEMENT <br />(Original date July 1, 1993 and as last amended and restated December 10, 2014) <br />THIS AMENDED AND RESTATED JOINT EXERCISE OF POWERS <br />AGREEMENT (“Agreement”) is entered into by and among the counties listed on <br />Attachment 1 hereof and incorporated herein by reference. All such counties are referred <br />to herein as "Members" with the respective powers, privileges and restrictions provided <br />herein. <br />RECITALS <br />A. WHEREAS, the California Rural Home Mortgage Finance Authority <br />(“CRHMFA”) was created by a Joint Exercise of Powers Agreement dated July 1, 1993 <br />pursuant to the Joint Exercise of Powers Act (commencing with Article 1 of Chapter 5 of <br />Division 7 of Title 1 of the Government Code of the State of California (the “Act”). By <br />Resolution 2003-02, adopted on January 15, 2003, the name of the authority was changed <br />to CRHMFA Homebuyers Fund. The most recent amendment to the Joint Exercise of <br />Powers Agreement was on January 28, 2004. <br />B. WHEREAS, the Members of CRHMFA Homebuyers Fund desire to update, <br />reaffirm, clarify and revise certain provisions of the joint powers agreement, including <br />the renaming of the joint powers authority, as set forth herein. <br />C. WHEREAS, the Members are each empowered by law to finance the <br />construction, acquisition, improvement and rehabilitation of real property. <br />D. WHEREAS, by this Agreement, the Members desire to create and establish a <br />joint powers authority to exercise their respective powers for the purpose of financing the <br />construction, acquisition, improvement and rehabilitation of real property within the <br />jurisdiction of the Authority as authorized by the Act. <br />NOW, THEREFORE, in consideration of the mutual covenants contained herein, <br />the Members individually and collectively agree as follows: <br />1. Definitions <br />Unless the context otherwise requires, the following terms shall for purposes of <br />this Agreement have the meanings specified below: <br />"Act" means the Joint Exercise of Powers Act, commencing with Article 1 of <br />Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California, <br />including the Marks-Roos Local Bond Pooling Act of 1985, as amended. <br />"Agreement" means this Joint Exercise of Powers Agreement, as the same now <br />exists or as it may from time to time be amended as provided herein.