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No. R-90-14 CITY OF FALCON HEIGHTS C O U N C I L R E S O L U T I O N • Date March 28 , 1990 A RESOLUTION AUTHORIZING ENTRY INTO A JOINT POWERS AGREEMENT IN THE FORM OF A DECLARATION OF TRUST ESTABLISHING AN ENTITY KNOWN AS "MINNESOTA MUNICIPAL MONEY MARKET FUND" AND AUTHORIZING PARTICIPATION IN CERTAIN INVESTMENT PROGRAMS IN .CONNECTION THEREWITH WHEREAS, Minnesota Statutes Ection 471.59 (the Joint Powers Act) provides among other things that governmental units, by agreement entered into through action of their governing bodies, may jointly or cooperatively exercise any power common to the contracting parties; and WHEREAS, the Minnesota Municipal Money Market Fund was formed in January, 1987, pursuant to the Joint Powers Act by the adoption of a joint powers agreement in the form of a Declaration of Trust by a group of Minnesota Municipalities acting as the Initial Participants thereof; and WHEREAS, the Declaration of Trust has been presented to this Council; and WHEREAS, the Declaration of Trust authorizes municipalities . of the State of Minnesota to adopt and enter into the Declaration of Trust and become Participants of the Fund. Municipality shall mean city, county, town, public authority, public corporation, public commission, special district, and any "instrumentality" (as that term is defined in the Joint Powers Act) of a municipality; and WHEREAS, this Council to adopt and enter into the of the Fund for the purpose monies with those of other earnings accruing to each; deems it to be advisable for this municipality Declaration of Trust and become a Participant of the joint investment of this municipality's municipalities so as to enhance the investment and Moved by Councilmember Ciernia YEAS Nays BALDWIN CIERNIA GEHRZ WALLIN • JACOBS in Favor Against f~~ Approved by _ Mayor March ~8, 1990 ___ Da ie ,. / ci ~ c / ) Attested by ~2~~ ~,i11 City Clerk March 28, 1990 Date Adopted by Council March 28 , 1990