Laserfiche WebLink
2.22 Further Powers. The Trustees shall have full and complete power to take all such <br /> actions, do all such matters and things and execute all such instruments as they deem necessary, <br /> proper or desirable in order to carry out, promote or advance the interests and purposes of the <br /> 4M Fund although such actions, matters or things are not herein specifically mentioned. Any <br /> determination as to what is in the best interests of the 4M Fund made by the Trustees in good <br /> faith shall be conclusive. In construing the provisions of this Declaration of Trust, the <br /> presumption shall be in favor of a grant of power to the Trustees. The Trustees shall not be <br /> required to obtain any court order to deal with the 4M Fund Property. <br /> 2.23 Compliance with Laws. The Trustees shall at all times exercise all powers granted <br /> hereunder in compliance with, and the operations of the 4M fund shall at all time be conducted <br /> in accordance with, the applicable Laws of the State of Minnesota. <br /> 2.24 Tax or Aid or Revenue Anticipation Borrowing. Notwithstanding the provisions of <br /> Section 2.10 or 4.02 or any other provision of this Declaration, the Trustees shall have full and <br /> complete power to borrow money or incur indebtedness as a part of a program of tax or aid or <br /> revenue anticipation borrowing by Participant Municipalities. They shall have the power to issue <br /> such obligations on behalf of the Participants, coordinate the issuance of such obligations by the <br /> Participants, to become members of joint powers entities authorized to issue or coordinate the <br /> issuance of such obligations, or to enter into contracts or agreements of any nature authorized <br /> by law related to the issuance of such obligations. The assets of the 4M Fund itself shall not <br /> be pledged by the Trustees to the repayment of any portion of such borrowing and any <br /> obligations issued shall not constitute a debt of the 4M Fund, shall not be payable from or be <br /> a charge upon any assets of the 4M Fund, shall not give rise to any pecuniary liability of the 4M <br /> Fund, and shall not be enforceable against any property of the 4M fund, other than amounts <br /> received from participating Municipalities in connection with that anticipation borrowing <br /> program which are pledged to the repayment of the borrowing or obligations. The Trustees shall <br /> have such powers as necessary to conduct or participate in such anticipation borrowing programs <br /> as approved by the Trustees, including a program of investment of obligation proceeds. <br /> ARTICLE III <br /> Technical Advisory Board, Investment Adviser. Administrator. and Custodian <br /> 3.01 Annointment. The Trustees are responsible for the general investment policy and <br /> program of the 4M Fund and for the general supervision and administration of the business and <br /> affairs of the 4M Fund conducted by the officers, agents, employees, investment advisers, <br /> administrators, or independent contractors of the 4M Fund. The Trustees are not required <br /> personally to conduct all of the routine business of the 4M fund and, consistent with their <br /> ultimate responsibility as stated herein, the Trustees may appoint, employ or contract with an <br /> Adviser as an investment adviser to the Trustees, an Administrator as an administrator for the <br /> 4M Fund and a Custodian may grant or delegate such authority to the Adviser and the <br /> Administrator (pursuant to the terms of Section 2.16 hereof) or to any other Person the services <br /> is 13 <br />