My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
06-20-07 FPAC Minutes
ArdenHills
>
Administration
>
Commissions, Committees, and Boards
>
Financial Planning and Analysis Committee (FPAC)
>
FPAC Packets
>
2007
>
06-20-07 FPAC Minutes
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/24/2024 4:07:07 PM
Creation date
11/9/2007 2:19:12 PM
Metadata
Fields
Template:
General
Document
06-20-07 Minutes
General - Type
Minutes
Date
6/20/2007
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
209
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
• WITHDRAWALS FROM THE PLUS FUND <br /> All investments in the PLUS Fund must be deposited for a minimum of 14 calendar days. <br /> Withdrawals prior to the 14-day restriction period will be subject to a penalty equal to 7 days interest on <br /> the amount withdrawn (calculated using the dividend rates in effect for the 7-day period immediately <br /> preceding the withdrawal date). The penalty will be payable even if the amount withdrawn had not been <br /> invested in the PLUS Fund for the full 7-day period preceding the withdrawal. In determining whether an <br /> amount is eligible for withdrawal from a Participant account without the payment of a penalty, the first- <br /> in/first-out method will be used. <br /> In determining whether an amount is eligible for withdrawal from a Participant account without the <br /> payment of a penalty,the first-in/first-out method will be used. <br /> There are no restrictions on withdrawals from the Liquid Asset Fund,which may be effected on a <br /> same-day basis. <br /> TRUSTEES AND OFFICERS <br /> Subject to the power of the Participants to amend the Declaration of Trust,the Board of Directors <br /> of the League of Minnesota Cities serves as the Board of Trustees of the Trust. Appointments and <br /> vacancies are filled in accordance with the by-laws of the League of Minnesota Cities and the Declaration <br /> of Trust. The Trustees have full, exclusive, and absolute control and authority over the business and <br /> affairs of the Trust and each Fund, in all cases subject to the rights of the Participants as provided in the <br /> • Declaration of Trust. <br /> The Trustees may perform such acts as in their sole judgment and discretion are necessary and <br /> proper for conducting the business and affairs of the Trust or promoting the interests of the Trust. The <br /> Trustees duties include, but are not limited to, overseeing, reviewing and supervising the activities of all <br /> consultants and professional Advisors to the Fund (including,but not limited to, the Investment Advisor, <br /> the Administrator,the Sub-Administrator,if any,and the Custodian). <br /> The Trustees serve without compensation but are reimbursed by the Trust for reasonable travel <br /> and other out-of-pocket expenses incurred in connection with their duties as Trustees. The Trustees are <br /> not required to devote their entire time to the affairs of the Trust. <br /> The officers of the League of Minnesota Cities serve also as officers of the Trust. The executive <br /> director of the League of Minnesota Cities serves as the Trust's Secretary and as an ex-officio, non-voting <br /> member of the Board of Trustees. The Trustees may elect or appoint such other officers or agents who, <br /> subject to the Declaration of Trust and Bylaws of the Trust, shall have such powers, duties and <br /> responsibilities as the Trustees may deem to be advisable and appropriate. <br /> The Trustees are responsible for the general investment policy and program of each Fund and for <br /> the general supervision and administration of the business and affairs of the Trust. However, the <br /> Trustees are not required personally to conduct all of the business of the Trust and, consistent with their <br /> ultimate responsibility, the Trustees have appointed the Administrator and Investment Advisor, a Sub- <br /> Administrator,the Custodian,and a Technical Advisory Board. <br /> • <br /> -6- <br />
The URL can be used to link to this page
Your browser does not support the video tag.