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ordinances by the rest-ct ive Aoatd of County Ccarmissinn--r t-f mar county, and are. authorized to carry out public putpo. that :are substantially identical to those of the Auth^rity through substantially identical rw ans within their respective Country areas. In addition, the Board of County Commissioners of each County has approved the implementation and administration by the Authority of a multi-county single family mortgage revenue bond program to be conducted within the boundaries of each County pursuant to the Interlocal Agreements. The Interlocal Agreements provide that the Authority will issue the Bonds and that a separate portion of the proceeds of the Bonds is to be allocated for use within each County pursuant to the guidelines of the origination Agreements. The Authority is composed of five members appointed by the Board. The current members of the Authority, the dates on which their respective terms expire and their principal occupations are as follows: Principal Na'.L.f' ,'rm Expjj, L; occupati0I1 Seymour J. ?Marshall 7/31/95 Retired Elbert Jones, Jr. 7/31/97 Lending Officer Sandra J. Ward 7/31/99 Real Estate Management Lamar B. Cobb 7/31/99 Bank officer James D. Cronley 7/31/98 Owner/Building Company The Authority will neither originate nor service the Mortgage Loans, and the Authority will have no responsibility with respect thereto or with respect to the collection, transfer or payment of any moneys derived from the Mortgage Loans. The Authority has contracted with the Servicer to administer its Program through the monitoring and supervision of the origination .and sale of the Mortgage Loans by the Participants and to service all Mortgage Loans financed under the Program. The Authority's staff consists of an e-xecutive. director, Gordon R. Jernigan and one assistant. In approving the Pi o -p am and the issuance of the Bunds, the Authority has relied upon c+it-tin information and r--pres+ntations provided to it by cQonsultants ;ir.d attorneys and by the Underwriters. Secondary Market Uisrle+suro 4 - Au t h": it y hs! a; a. d t. o sed natio* at i no l y tanner of mat rt ial svernts (within' ata knowledge) in sc rdanee with Rsls 1 sea j2. promu 1 gat ed under the Securities focta.nge Act of 1911 i "Rule 1St:2 12" i sztd further covenants to provide annual financial informsrat iaA in aceosdanoe with Rule 1SC2-12 within OM buindted t went y t 1201 days of the and of its ft=al year, so tang as owb :aqui r r -greets are is ettect . Attached homto as Appendix • to a ounna: y of t.hw root tmtAUiq Disclaeaesee Big eatesed lata by the &at hot It y . M