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Agmt 2016 California Home Finance Authority
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Agmt 2016 California Home Finance Authority
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6/7/2016 6:29:28 PM
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6/7/2016 6:29:28 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
6/6/2016
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PERM
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Reso 2016-070
(Approved by)
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\City Clerk\City Council\Resolutions\2016
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. (5) incurring debts, liabilities or obligations, <br /> . (6) receiving gifts, contributions and donations of property, funds, services and <br /> any other forms of assistance from persons, firms, corporations or governmental <br /> entities, <br /> . (7) suing and being sued in its own name, and litigating or settling any suits or <br /> claims, <br /> . (8) doing any and all things necessary or convenient to the exercise of its specific <br /> powers and to accomplishing its purpose <br /> . (9) establishing and/or administering districts to finance and refinance the <br /> acquisition, installation and improvement of energy efficiency,water conservation <br /> and renewable energy improvements to or on real property and in buildings. The <br /> Authority may enter into one or more agreements, including without limitation, <br /> participation agreements and implementation agreements to implement such <br /> programs. <br /> e. Subject to the applicable provisions of any indenture or resolution providing for <br /> the investment of monies held thereunder,the Authority shall have the power to invest <br /> any of its funds as the Board deems advisable, in the same manner and upon the same <br /> conditions as local agencies pursuant to Section 53601 of the Government Code of the <br /> State of California. <br /> f. All property, equipment, supplies, funds and records of the Authority shall be <br /> owned by the Authority, except as may be provided otherwise herein or by resolution of <br /> the Board. <br /> g. Pursuant to the provisions of Section 6508.1 of the Act,the debts, liabilities and <br /> obligations of the Authority shall not be debts, liabilities and obligations of the Members <br /> or Associate Members. Any Bonds,together with any interest and premium thereon, shall <br /> not constitute debts, liabilities or obligations of any Member. The Members or Associate <br /> Members hereby agree that any such Bonds issued by the Authority shall not constitute <br /> general obligations of the Authority but shall be payable solely from the moneys pledged <br /> to the repayment of principal or interest on such Bonds under the terms of the resolution, <br /> indenture,trust, agreement or other instrument pursuant to which such Bonds are issued. <br /> Neither the Members or Associate Members nor the Authority shall be obligated to pay <br /> the principal of or premium, if any, or interest on the Bonds, or other costs incidental <br /> thereto, except from the revenues and funds pledged therefor, and neither the faith and <br /> credit nor the taxing power of the Members or Associate Members or the Authority shall <br /> be pledged to the payment of the principal of or premium, if any, or interest on the <br /> Bonds, nor shall the Members or Associate Members of the Authority be obligated in any <br /> manner to make any appropriation for such payment.No covenant or agreement <br /> contained in any Bond shall be deemed to be a covenant or agreement of any Delegate, or <br /> any officer, agent or employee of the Authority in an individual capacity, and neither the <br /> Board nor any officer thereof executing the Bonds or any document related thereto shall <br />
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