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R1623 R E S O L U T I O N NO. 1623 WHEREAS, Section 9.3 of the Pension Plan of The Metropolitan St. Louis Sewer District provides that the Board of Trustees of the District may, from time to time, appoint one or more investment managers to direct any Trustee or Trustees with respect to all or a specified portion of the assets of the Pension Fund held by the Trustee, and WHEREAS, Section 9.4 of the Pension Plan of The Metropolitan St. Louis Sewer District provides that the Board of Trustees of the District may, from time to time, direct the Trustee to invest a specified portion of the Pension Fund in a particular asset or assets, and WHEREAS, Mercantile Trust Company has been designated as Trustee of said Pension Fund, and WHEREAS, the assets of the Pension Fund shall be evaluated by the Trustee as of an Evaluation Date selected by the Trustee, but which shall be within ten (10) business days after all assets have been received from the predecessor Trustee, and NOW, THEREFORE, BE IT RESOLVED that the following named investment managers be named to direct the Trustee with respect to the assets of the Pension Fund of The Metropolitan St. Louis Sewer District in the manner as hereafter provided. (A)Loomis, Sayles & Company, Incorporated, and Midwest Advisory Services, Inc., are hereby appointed investment managers with respect to the portions of the Pension Fund specified below, as of the Evaluation Date, and thereafter with respect to the assets attributable to such portions. (B)Thirty percent (30%) of the Pension Fund is to be subject to the management of Midwest Advisory Services, Inc., with a primary objective of managing an Immunization Fund with a five (5) year holding period. (C)Thirty percent (30%) of the Pension Fund less One Million Dollars ($1,000,000.00) is to be subject to the management of Loomis, Sayles & Company, Incorporated, with a primary objective of selling exchange-traded covered call options. BE IT FURTHER RESOLVED that the Trustee is hereby directed to invest or hold portions of the Pension Fund in the manner as hereafter provided. (A)One Million Dollars ($1,000,000.00) shall be invested in shares of Analytic Optioned Equity Fund, Inc., which shares shall be held by the Trustee as a part of the Pension Fund. (B)The balance of the Pension Fund shall be held by the Trustee pursuant to the terms of the Trust Agreement. The foregoing Resolution was adopted February 10, 1982.