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COVENANTS <br />In consideration of the mutual promises and covenants herein contained, the <br />Parties hereto agree as follows: <br />PURPOSE AND POWERS <br />1. Definitions. For the purpose of this Agreement, the meaning of the <br />capitalized terms used in the Agreement shall be the following: <br />a. "Agency" means the "San Leandro Economic Development <br />Agency" formed pursuant to this Agreement. <br />Agency. <br />the Agency. <br />Agency. <br />b. "Agreement" means this Joint Exercise of Powers Agreement. <br />C. "Board" or "Board of Directors" means the governing body of the <br />d. "Budget" means the approved budget applicable to the expenses of <br />e. "Directors" means the members of the governing Board of the <br />f. "Facility" or "Facilities" means any public or private improvements <br />financed, acquired, assisted, or constructed by the Agency. <br />g. "Fiscal Year" means July 1, to and including the following June 30. <br />h. "JPA Lave' means Articles 1-4 commencing with Section 6500 of <br />Chapter 5, Division 7, Title 1, of the California Government Code, as such may be <br />Joint Exercise of Powers Agreement Fage L of LV <br />1:\WPD1CSL\136\AGREEgOINTP W R.CLN <br />