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Res. 7705 <br />Page 2. <br /> <br /> <br />Section 3. The Trustees of the Fund are designated as having official custody of those monies <br />invested in accordance with the Declaration of Trust. <br /> <br />Section 4. That the City may open depository accounts, enter into wire transfer agreements, <br />safekeeping agreements, third party surety agreements securing deposits, collateral agreements, letters <br />of credit, lockbox agreements, or other applicable or related documents with institutions participating in <br />Fund programs including U.S. Bancorp N.A. or its successor, or programs of PMA Financial Network, <br />Inc. or PMA Securities, Inc. for the purpose of transaction clearing and safekeeping, or the purchase of <br />certificates of deposit (“CDs”) and that these institutions shall be deemed eligible depositories for the <br />municipality. PMA Financial Network, Inc. and PMA Securities, Inc. and their successors are authorized <br />to act on behalf of this City as its agent with respect to such accounts and agreements. Monies of this <br />entity may be deposited in such depositories, from time to time in the discretion of the Authorized <br />Officials, pursuant to the Fund’s Programs available through its Service Providers. <br /> <br />Adopted December 13, 2010. <br /> <br /> <br />___________________________ <br />Joe Flaherty, Mayor <br /> <br />ATTEST: <br /> ___________________________ <br /> Jim Ericson, City Administrator <br /> <br /> <br />(SEAL) <br />