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in financing as authorized herein, jointly exercised in the manner set forth herein. <br />3. Principal Place of Business <br />The principal office of the Authority shall be 1215 K Street, Suite 1650, Sacrunento, <br />California 95814. <br />4. Creation of Authority; Addition of Members or Associate Members <br />a. The Authority is hereby created pursuant to die Act. As provided in the Act, the <br />Authority shall be a public entity separate and distinct from die Members or Associate Members. <br />b. The Authority will cause a notice of this Agreement or any amendment hereto to <br />be prepared and filed with the office of the Secretary of State of California in a timely fashion in <br />die manner set forth in Section 6503.3 of die Act. <br />C. A county that is a member of RCRC may petition to become a member of the <br />Authority by submitting to die Board a resolution or evidence of other formal action taken by its <br />governing body adopting this Agreement. The Board shall review die petition for membership <br />and shall vote to approve or disapprove die petition. If the petition is approved by a majority of <br />die Board, such county shall immediately become a Member of the Authority. <br />d. An Associate Member may be added to die Authority upon the affirmative <br />approval of its respective governing board and pursuant to action by die Authority Board upon <br />such terms and conditions, and with such rights, privileges and responsibilities, as may be <br />established from time to time by die Board. Such terms and conditions, and rights, privileges and <br />responsibilities may vary among die Associate Members. Associate Members shall be entided to <br />participate in one or more prognuns of the Authority as determined by the Board, but shall not be <br />voting members of die Board. The Executive Director of die Authority shall enforce the terms <br />and conditions for prospective Associate Members to the Authority as provided by resolution of <br />the Board and as amended from time to time by the Board. Changes in the terms and conditions <br />for Associate Membership by the Board will not constitute an amendment of this Agreement. <br />5. Term and Termination of Powers <br />This Agreement shall become effective from die date hereof until the earlier of die time <br />when all Bonds and any interest thereon shall have been paid in full, or provision for such <br />payment shall have been made, or when the Authority shall no longer own or hold any interest in a <br />public capital improvement or program. The Authority shall continue to exercise die powers <br />herein conferred upon it until termination of this Agreement, except that if any Bonds are issued <br />and delivered, in no event shall die exercise of the powers herein granted be terminated until all <br />Bonds so issued and delivered and the interest thereon shall have been paid or provision for such <br />payment shall have been made and any other debt incurred with respect to any other financing <br />program established or administered by the Authority has been repaid in full and is no longer <br />outstanding. <br />6. Powers; Restriction upon Exercise <br />