R95-Board of Directors
WHEREAS, the Government Entity desires to cause administration of the
Cooperative to be performed by a board of directors (the -Board-), which shall be an
administrative acency created under the Interlocal Act; and
WHEREAS, the Government Entity desires to designate the Board as its acency
and instrumentality with authority to supervise performance of the Agreement, employ personnd
and engage in other administrative activities and provide other administrative services n<<~a"Y
to execute the terms of the Agreement;
WHEREAS, each capi~1i7ed term used in this Resolution and not otherwise
defined has the same meaning assigned to it in the Agreement;
NOW, THEREFORE, BE IT RESOLVED:
1. The Agreement is hereby approved and adopted and, upon execution
thereof by an Authorized Representative (defined below) and receipt of the Government
Entity's application to join the Cooperative by the Administrator, the Government Entity
shall become a Participant in the Cooperative for the purpose of investing its available
funds therein from time to time in accordance with its terms.
2. The Board is hereby designated as an agency and instrumentality of the
Government Entity, and the Board shall have the authority to supervise performance of
the Agreement and the Cooperative, employ persoMel and engaae in other administrative
activities and provide other administrative services 1'lea'~ft"Y to execute the terms of the
Agreement. .
3. The investment policies of the Cooperative, as set forth in the document
entitled Investment Policies, as summarized in the Information Statement, and as may be
amended from time to time by the Board, are hereby adopted as investment policies of
the Government Entity with respect to money invested in the Cooperative, and any
existing investment policies of the Government Entity in conflict therewith shall not apply
to investments in the Cooperative.
4. The following officers, officialJ or employees of the Government Entity
are hereby desicnated as -Authorized Representatives- within the meaninl of the
Agreement, with full power and authority to: execute the Aareement, an application to
join the Cooperative and any other documents required to become a Participant; deposit
money to and withdraw money from the Government Entity's Cooperative account from
time to time in accordance with the Agreement and the Information St:Uement; and take
all other actions deemed n~uary or appropriate for the investment of funds of the
Government Entity:
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lnolutioll