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01-08-18-R
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01-08-18-R
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<br /> <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br /> <br />RESOLUTION NO. 2018-005 <br /> <br />RESOLUTION REAUTHORIZING MEMBERSHIP IN THE 4M FUND <br /> <br /> WHEREAS, Minnesota Statutes (the Joint Powers Act) provides that governmental <br />units may jointly exercise any power common to the contracting parties; and <br /> <br />WHEREAS, the Minnesota Municipal Money Market Fund (the 4M Fund) was <br />formed in 1987, pursuant to the Joint Powers Act and in accordance with Minnesota <br />Investment Statutes, by the adoption of a joint powers agreement in the form of a Declaration <br />of Trust; and <br /> <br />WHEREAS, the Declaration of Trust, which has been presented to this Council, <br />authorizes municipalities of the State of Minnesota to become Participants of the Fund and <br />make use from time to time including the 4M Liquid Asset Fund, the 4M Plus Fund, the <br />Term Series, the Fixed Rate Programs, and other Fund services offered by the Fund; and <br /> <br />WHEREAS, this Council deems it to be in the best interest for the municipality to <br />make use of, from time to time, the approved services provided by the 4M Fund’s service <br />providers including the Investment Advisor (Prudent Man Advisors, Inc.) or Sub-Advisor <br />(RBC Global Asset Management (U.S.) Inc.), the Administrator (PMA Financial Network, <br />Inc.), the Distributor (PMA Securities, Inc.) or the Fixed Rate Program Providers, PMA <br />Financial Network, Inc. and PMA Securities, Inc., and the Custodian, U.S. Bank National <br />Association, (“Service Providers”) and/or their successors. <br /> <br />WHEREAS, this Council deems it advisable for this municipality to enter into the <br />Declaration of Trust and become a Participant of the Fund for the purpose of joint investment <br />with other municipalities so as to enhance the investment earnings accruing to each; now, <br />therefore BE IT RESOLVED AS FOLLOWS: <br /> <br />Section 1. This municipality shall renew its membership as a Participant of the Fund <br />and adopt and enter into the Declaration of Trust, a copy of which shall be filed in the <br />minutes of this meeting. The appropriate officials are hereby authorized to execute <br />those documents necessary to effectuate entry into the Declaration of Trust and the <br />participation of all Fund programs. <br />
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