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(d) to acquire (by the exercise of the power of eminent domain or otherwise), <br /> hold,lease,sell or otherwise dispose of any real or personal property,tangible or intangible, <br /> and any interests therein,wherever located; <br /> (e) to issue or incur Indebtedness and otherwise to incur debts, liabilities or <br /> obligations,provided that no such Indebtedness,debt,liability or obligation shall constitute <br /> a debt, liability or obligation of any of the Members; <br /> (f) to sue and be sued in its own name; <br /> (g) to establish a budget and authorize expenditures therefrom; <br /> (h) to apply for, accept, receive and disburse grants, loans and other aids from <br /> any agency of the United States or of the State of California or from any private sources; <br /> (i) to enter into agreements for the creation of separate public entities and <br /> agencies pursuant to the Joint Powers Law; <br /> (j) to invest any money in the treasury as determined by the Authority, in <br /> accordance with applicable provisions of the Joint Powers Law and Section 53601 of the <br /> California Government Code, as amended from time to time; <br /> (k) to apply for letters of credit or other forms of financial guarantees in order <br /> to secure the repayment of Indebtedness and enter into agreements in connection therewith; <br /> (I) to carry out and enforce all the provisions of this Agreement; <br /> (m) to make and enter into Bond Purchase Agreements; <br /> (n) to purchase Indebtedness of a Member or any Local Agency; <br /> (o) to establish non-profit corporations or for-profit corporations to assist in <br /> accomplishing any of its objectives; and <br /> (p) to exercise any and all other powers as may be permitted by State law and/or <br /> the Joint Powers Law (including Section 6588 of the Joint Powers Law). <br /> Section 5.03. Restrictions on Exercise of Powers. The powers of the Authority shall be <br /> exercised in the manner provided in the Joint Powers Law and in the Bond Law subject only to the <br /> restrictions upon the manner of exercising such powers as are imposed upon the Members in the <br /> exercise of similar powers. <br /> Section 5.04. Liability; Contribution. Pursuant to the Joint Powers Law, the debts, <br /> liabilities and obligations of the Authority shall not be the debts, liabilities and obligations of any <br /> of the Members, except as provided by Section 895.2 of the California Government Code, as <br /> amended from time to time,in the case of injury caused by a negligent or wrongful act or omission <br /> occurring in the performance of this Agreement. In the event any Member is held liable upon any <br /> judgment for damages caused by a negligent or wrongful act or omission occurring in the <br /> 7 <br /> 55394.00068442104911.2 <br />