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ARTICLE XV <br />• Any net earnings of the Corporation (beyond that neces- <br />sary for retirement of its indebtedness or to implement the <br />public purpose or purposes or program of the Corporation) may not <br />inure to the benefit of any person or entity, other than the <br />Sponsoring Political Subdivisions. <br />The Corporation shall not participate in or intervene <br />in (including the publication or distribution of statements) <br />any political campaign on behalf of any candidate for public <br />office. <br />ARTICLE XVI <br />Subject to any valid liens, charges or encumbrances and <br />the prior rights of the holders of any obligation of this Cor- <br />poration and any creditors of the Corporation, in the event of <br />dissolution of this Corporation, at any time or for any reason, <br />title to all of the funds, properties and assets of this Corpora- <br />tion shall vest severally in each of the Sponsoring Political <br />Subdivisions in proportion to the ratio which its population (as <br />reflected by the 1980 decennial census) bears. to the total popu- <br />lation of all Sponsoring Political Subdivisions (as reflected by <br />the 1980 decennial census) it being intended that no officer or <br />director of this Corporation or any other private person or <br />entity shall ever derive or receive any financial or pecuniary <br />• gain or profit from this Corporation on dissolution, liquidation <br />or winding up. <br />ARTICLE XVII <br />The governing bodies of the political subdivisions <br />which serve as sponsors of the Corporation may, at their sole <br />discretion and at any time, either upon (1) the application <br />of the board of directors of the Corporation, or (2) their <br />own motions, by appropriate resolutions duly adopted, cause these <br />First Restated Articles of Incorporation to be amended to <br />alter or change the structure, organization, powers, programs <br />or activities of the Corporation and may cause the existence of <br />the Corporation to be terminated, subject to the provisions of <br />the Texas Housing Finance Corporations Act and to any limita- <br />tion on the impairment of contracts entered into by the Cor- <br />poration. <br />-6- <br />