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"Associate Member" tnoaus a county, (,fly or other public agency which is not a voting <br />ntclnber of the liural County Represcittadws of California, a California nonprofit corporation <br />C`RCIRC"), with legal power ;old authority sinular In thtu of the Members, adulitted pursuant to <br />paragraph 441, below to associate rlcttlbordiip herein by vote oI the Board. <br />`Audit Committee" mans it comlrlittec made tip of the nfne•nhcmbcr FACCuuve <br />Committee. <br />'Authority" niettns Calilbruia Houle Finance Authority ("CHIC"), formerly krtowu as <br />CRH.MFA 1-Ionichuyers Punt or California Runl Houk ivtortgtige Itititure Authority. <br />'Board' nnums the govenihig board of the Authority as described inSection 7 below. <br />'Bonds' trreuts bonds, Motes, warriuts, leases, certificates of pardlipa;tion, fitstalltncut <br />pltrehase agreeno.`,lits, loan agreements and other scruritics or obliffadona issued by (lie Authority, <br />or fttuuncfug agrccntuts entered hto by die Authorty pursuaul to lite Act and any oilier obligtatiou <br />vviddit file mcatrillg of the tcrm "ldollds" under die Art. <br />'Dolegtde" nature the Supervisor designated by rile governfag board of each Member to <br />serve oil the Board ol'the Authority. <br />°F,xecudve Committee" means ate niuc•mcndxr Executive Conimiuee of lite l3oard <br />esiablislhed pursuant to Section 10 hercor, <br />"tinier means any county which is it member of RCRC, has executed Oils Agccment <br />and has beronic a member of lite Authority. <br />'011s alions" meads bonds, cotes, warrants, leases, Certificates Of pal'ticipatiolt, itlsudlmeut <br />ptur•hase agreentelits, loall agreemcats and otter securities or obligations issued by die Authority, <br />or fillancillg agreccicnts etltered itito by die Authority ptrrsuanu to die Act and any other linaucial <br />or legal obhgntioa or dw, Authority under tic Act, <br />'Program" or "Project" means arty work, iniptovcrtwat, program, project or service <br />uadertakeu by die Authority. <br />"Rural County Representatives of C'afifornia" or "RCRC" ancaas tiie uooprolit cotity <br />incorporated under that osute in the State of California, <br />'Supervisor" menus as elected County Supxrvisor foul all RCRC nicalber eoauty, <br />2. Purpose <br />"I'he Ihuryhase of the Audtority is to provide, fivauring for the isequisitioll, colAructiml, , <br />improvculout and rehabilitation of real property itr accordance with appGcablc provisions of late <br />for die benefit of residents and communities, Its pursuit otitis purpose, this Agrcelrrent Iiruvides <br />lbr the joitit exervise or powers rrtmmon to Sony of its Members and Associate I'Ieinbers as <br />provided Itcrein, or otherwise tutduarfzed by [lie Art turd other applicabic laws, inctudiug assistiug <br />Resolution No. 2015-044 <br />Page 5 of 16 <br />