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ce+ 99dea 9/h Ceew is <br />515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />January 7, 1994 <br />MAYOR <br />Raymond G. Hanson <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />TO: Mayor Hanson <br />Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />RE: Proxy Resolution - 4M Fund <br />Attached is information from the League of Minnesota Cities <br />relative to the City's approval of a proxy statement. The <br />proxy would allow a representative of the board of the 4M <br />Fund to vote on our behalf relative to amendments to the <br />Declaration of Trust for the fund. Information enclosed is <br />a summary of the detailed changes to be voted upon. A copy <br />of the actual changes is available at City Hall for your <br />inspection should you desire. <br />Based on my review of this information, I would recommend <br />that we execute the resolution authorizing a vote by proxy <br />in favor of the amendments to the Declaration of Trust. By <br />doing so, it is my opinion that we will be creating the <br />potential for higher yields and greater investment options <br />from the 4M fund which could be of benefit to our City. <br />JRH /mbg <br />Page 63 <br />