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"hereby", and "hereunder" shall be deemed to refer to the Declaration of Trust and shall not be • <br /> limited to the particular text, article or section in which such words appear. <br /> "Employee of a Municipality" or "Municipal Employee" shall mean a director of finance, <br /> a finance official or other managerial employee of a Municipality charged with responsibility for <br /> municipal finance. <br /> "4M Fund" shall mean the common law trust created by this Declaration of Trust. <br /> "4M Fund Property" shall mean, as of any particular time, any and all property, real, <br /> personal or otherwise, tangible or intangible, which is transferred, conveyed or paid to the 4M <br /> Fund or the Trustees and all income, profits and gains therefrom and which, at such time, is <br /> owned or held by, or for the account of, the 4M Fund or the Trustees. <br /> "Information Statement" shall mean the information statement or other descriptive document <br /> or documents adopted as such by the Trustees and distributed by the 4M Fund to participants <br /> and potential Participants of the 4M Fund as the same may be amended by the Trustees from <br /> time to time. <br /> "Initial Participants" shall mean the City of Minnetonka and the League of Minnesota Cities <br /> which the Municipalities initially formed the 4M Fund by the execution and adoption of this <br /> Declaration of Trust. <br /> "Investment Advisory Agreement" shall mean the agreement with the Adviser referred to • <br /> in Section 3.02 hereof as the same may be amended from time to time. <br /> "Joint Powers Act" shall mean Minnesota Statutes, Section 471.59. <br /> "Laws" shall mean common law and all ordinances, statutes, rules, regulations, orders, <br /> injunctions, decisions, opinions or decrees of any government or political subdivision or agency <br /> thereof, or any court or similar entity established by any thereof. <br /> "Participants" shall mean the Initial Participants and the Municipalities which adopt this <br /> Declaration of Trust pursuant to Section 14.06 hereof. <br /> "Permitted Investments" shall mean the investments referred to in Paragraph (b) or Section <br /> 2.02 hereof. <br /> "Person" shall mean and include individuals, corporations, limited partnerships, general <br /> partnerships, joint stock companies or associations, joint ventures, associations, companies, <br /> trusts, banks, trust companies, land trusts, business trusts or other entities (which or not legal <br /> entities) and governments and agencies and political subdivisions thereof. <br /> 4 • <br />