1988.02.16 RESO 1988-0012 - Laserfiche WebLink

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z ' r 101 hereof. 6.2 j&1J=tion of Shares (a) The Trustees shall credit a Participant with additional Shares upon receipt of funds (including, without limitation, income from the investment of 4M Fund Property) for the account of such Participant, based on the net asset value per Share as determined pursuant to Section 10.1 hereof. In connection with any allocation of Shares, the Trustees may allocate fractional Shams. The Trustees may from time to time adjust the total number of Shares allocated without thereby changing the proportionate beneficial interests in the 4M Fund. Reductions or increases in the number of allocated Shahs may be made in order to maintain a constant net asset value per Share as set forth in Section 10.2 hereof. Shares shall be allocated and reduced in numbers ss whole Shares and/or one hundredths (1/100ths) of a Share or multiples thereof. (b) Shares may be allocated only to a Municipality which has become a Participant of the 4M Fund in accordance with Section 12 hereof. Each Participant may establish more than one account within the 4M Fund for such Participant's convenience. (c) The minimum amount of funds which may be placed in the 4M Fund by a Participant at any one time shall be as determined by the Trustees from time to time. Unless otherwise determined by the Trustees pursuant to this paragraph (c) of this Section 6.2, the minimum amount of funds which may be placed in the 4M Fund by a Participant at any one time shall be One Dollar (51.00). 6.3 EvidglIce of Share Allocation. Evidence of Sham allocation :hall be reflected in the Shue Register maintained by or on behalf of the 4M Fund pursuant to Section 7.1 hereof, and the 4M Fund shall not be required to issue certificates as evidence of Shue allocation. 6.4 Rouctio ; in 'number of Shares to Maintain Cansg Asset Value. The Shares of the 4M Fund shall be subject to reduction in number pursuant to the procedure for reduction of outstanding Shares set forth in Section 10.2 hereof in order to maintain the constant net asset value per Shue. 6.5 Withdrawals. Funds may be withdrawn from the 4M Fund at the option of a Participant, upon and subject to the terms and conditions provided in this Declaration of Trust. The 4M Fund shalt, upon application of any Participant, promptly pay to such Participant the amount requested and shall reduce the number of Shares allocated to such Participant to the number of Shares which shall reflect such Participant's proportionate interest in the* net assets of the 4M Fund after such withdrawal of funds. The procedures fot effecting a withdrawal shall be as adopted by the Trustees and as at forth in the information Statement of the 4M Fund, as the same may be amended from time to time; nrov_ided bower, that such procedures shall not be structured so as to substantially and materially restrict the ability of the Participants to withdraw funds from the 4M Fund. 6.6 �� nsign of Right of WithdramL• Postponement of b=nt. Each Participant, by its adoption of this Declaration of Trust, agrees that thio Trustees may, without the necessity of a formal meeting of the Trustees, temporarily suspend the right of withdrawal or postpone the date of payment pursuant to withdrawal requests for the whole or any part of any period (i) during which there shad have occurred any state of war, national emergency, banking moratorium or suspension of payments by banks in the State of Minnesota or any general suspension of trading or limitation of prices on the New York or American Stock Exchange (other than customary week -end and holiday closing) or (ii) during which any financial emergency situation exists as a result of 22