01/11/1988 Council Minutes - Laserfiche WebLink

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1 1 1 COUNCIL MEETING JANUARY 11, 1988 Minneapolis; Midwest Federal; Bank of Minneapolis & Trust Company; F & M Corporate Banking Service; First Bank of St. Paul; Merrill Lynch, Pierce, Fenner; First State Bank of Hugo; Twin City Federal; American National Bank; Centennial. State Bank and Piper, Jaffray and Hopwood. Mr. Bisel seconded the motion. Motion carried unanimously. Mayor Benson scheduled the Planning and Zoning Board and Centennial Fire District appointments for February 8, 1988. CONSIDERATION OF AUTHORIZING THE MAYOR AND ADMINISTRATOR TO ENTER INTO THE MINNESOTA MUNICIPAL MONEY MARKET FUND DOCUMENT OF TRUST - RESOLUTION NO. 03 - 88 Mr. Reinert moved to approve Resolution No. 03 - 88. Mr. Bohjanen seconded the motion. Motion carried unanimously. CITY OF LINO LAKES RESOLUTION NO. 03 - 88 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 Section 471.59 (the "Joint Powers Act ") provides among other things that government 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, WHEREAS, PAGE 5 the Declaration of Trust has been presented to this Council, and the Declaration of Trust authorized municipalities of the State of Minnesota to adopt and enter into the Declaration of Trust and become Participants 139