Agenda Packets - 1997/10/06 - Laserfiche WebLink

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FORM A Minnesota Municipal Money Market Fund S MODEL RESOLUTION A RESOLUTION AUTHORIZING ENTRY INTO 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 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 April 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 board 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. WHEREAS, this council (or board) deems it to be advisable for this municipality to adopt and enter into the. Declaration of Trust and become a Participant of the Fund for the purpose of the joint investment of this municipality's monies with those of other municipalities so as to enhance the investment earnings accruing to each; and WHEREAS, this board deems it to be advisable for this municipality to make use from time to time, in the discretion of the officials of the municipality identified in Section 2 of the following Resolution, of the Fixed Rate Program available to Participants of the Fund. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: Section 1. This municipality shall join with other municipalities in accordance with the Joint Powers Act by becoming a Participant of the Fund and adopting and entering into the Declaration of Trust, which is adopted by reference herein with the same effect as if it had been set out verbatim in this resolution, and a copy of the Declaration of Trust shall be filed in the minutes of the meeting at which this Resolution was adopted. The treasurer or clerk of this municipality is hereby authorized to take such actions and execute any and all such documents as they may deem necessary and appropriate to effectuate the entry of this municipality into the Declaration of Trust and the adoption thereof by this municipality. Section 2. This municipality is hereby authorized to invest its available monies from time to time and to withdraw such monies from time to time in accordance with the provisions of the Declaration of Trust. The following officers and officials of the municipality and their respective successors in office each hereby are. designated as "Authorized Officials" with full powers and authority to effectuate the investment and 3