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R2178 R E S O L U T I O N NO. 2178 WHEREAS, The Metropolitan St. Louis Sewer District, pursuant to Ordinance No. 9438, adopted January 12, 1995, provides for the benefit of its employees a Deferred Compensation Plan in compliance with Section 457 of the United States Internal Revenue Code ("Code"), and WHEREAS, in order to remain in compliance with the Code, compensation deferred under said Deferred Compensation Plan, shall at all times remain the sole asset of The Metropolitan St. Louis Sewer District, and a separate book account will be maintained for each participant to prescribe the investment of said Deferred Compensation through a Participant Agreement, and WHEREAS, it is the fiduciary responsibility of the Trustees of The Metropolitan St. Louis Sewer District to provide appropriate investment options, NOW, THEREFORE, BE IT RESOLVED that the following investment managers be appointed to act on behalf of the Deferred Compensation Plan of The Metropolitan St. Louis Sewer District in the manner as hereafter provided. (A) Vanguard Windsor II Fund as managed by Barrow, Hanley, Mewhinney & Strauss is hereby appointed as the Equity- Income Investment Manager of the funds. (B) Invesco Capital Management is hereby appointed as the Equity-Growth and Income Investment Manager of the funds. (C) Vanguard U.S. Growth Fund - as managed by the Lincoln Capital Management Company is hereby appointed as the Equity-Growth Investment Manager of the funds. (D) Dodge & Cox, Inc. is hereby appointed as the Balanced Fund Investment Manager of the funds. (E) Federated Short-Intermediate Government Trust is hereby appointed as the Fixed Income Investment Manager of the Funds. (F) Vanguard Money Market Reserve - Federal Portfolio is hereby appointed as the Money Market Investment Manager of the funds. (G) American Express Institutional Services is hereby appointed as the Stable Value Investment Manager of the funds. (H) Lincoln National Life is hereby appointed as a Manager for the Existing Annuity Option of the funds. (I) Mercantile Trust Company is hereby appointed as Short Term Investment Fund Manager and Record Keeper. BE IT FURTHER RESOLVED that the Executive Director, with the approval of the Chairman of the Board of Trustees of The Metropolitan St. Louis Sewer District, is hereby authorized to execute any necessary instruments to give effect to the foregoing. 3 The foregoing Resolution was adopted April 20, 1995.