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RESOLUTION NO. 7705 <br /> CITY OF MOUNDS VIEW <br /> County of Ramsey <br /> State of Minnesota <br /> REAUTHORIZING MEMBERSHIP IN THE 4M FUND <br /> WHEREAS, Minnesota Statutes (the joint powers act) provides that governmental units may <br /> jointly exercise any power common to the contracting parties; and <br /> WHEREAS, the Minnesota Municipal Money Market Fund (the 4M Fund) was formed in 1987, <br /> pursuant to the Joint Powers Act and in accordance with Minnesota investment Statutes, by the <br /> adoption of a joint powers agreement in the form of a Declaration of Trust; and <br /> WHEREAS, the Declaration of Trust, which has been presented to this Council, authorizes <br /> municipalities of the State of Minnesota to become Participants of the Fund and make use from time to <br /> time including the 4M Liquid Asset Fund, the 4M Plus Fund, the Fixed Rate Program, and other Funds <br /> services offered by the Fund; and <br /> WHEREAS, the Mounds View City Council deems it to be in the best interest for the City to <br /> make use of, from time to time, the approved services provided by the 4M Fund's service providers <br /> including the Investment Advisor and Administrator, RBC Global Asset Management, the sub <br /> Administrator, PMA Financial Network, Inc. or the Fixed Rate Investment Program Administrators, PMA <br /> Financial Network, Inc. and PMA Securities, Inc., and the Custodian, U.S. Bancorp N.A., "Service <br /> Providers and /or their successors. <br /> WHEREAS, the Mounds View City Council deems it advisable for the City to enter into the <br /> Declaration of Trust and renew the City's Participation in the Fund for the purpose of joint investment <br /> with other municipalities so as to enhance the investment earnings accruing to each; <br /> NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Mounds View the <br /> following: <br /> Section 1. The City of Mounds View shall renew its membership in the Fund and adopt and <br /> enter into the Declaration of Trust. The appropriate officials are hereby authorized to execute those <br /> documents necessary to effectuate entry into the Declaration of Trust and the participation of all <br /> programs. <br /> Section 2. This municipality is authorized to invest monies from time to time and to withdraw <br /> such monies from time to time in accordance with the provisions of the Declaration of Trust. The <br /> following officers of the City or their successors are designated as Authorized Officials" with authority <br /> to effectuate investments and withdrawals in accordance with the Declaration of Trust: <br /> Mark Beer, Finance Director <br /> Mary Tatarek, Accountant <br /> Jim Ericson, City Administrator <br />