HomeMy Public PortalAbout1994-028Member Ann Thies introduced the following resolution and
moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 94-28
RESOLUTION AUTHORIZING ENTRY INTO A JOINT POWERS AGREEMENT
WITH THE "MINNESOTA MUNICIPAL MONEY MARKET FUND" AND
AUTHORIZING PARTICIPATION IN CERTAIN INVESTMENT
PROGRAMS IN CONNECTION THEREWITH
WHEREAS, Minnesota Statutes 471.59 provides that governing bodies may enter
into a joint powers agreement; and
WHEREAS, the Minnesota Municipal Money Market Fund (4M Fund) was formed in
October 1990 pursuant to the Joint Powers Act; and
WHEREAS, a Declaration of Trust has been presented to the Trustees of the
Fund;
WHEREAS, the Declaration of Trust authorizes municipalities of the State
of Minnesota to become Participants of the Fund;
NOW, THEREFORE, BE IT RESOLVED by the City Council of Medina, Minnesota, as
follows:
Section 1. The City shall join with other municipalities in accordance with the
Joint Powers Act by becoming a Participant of the Fund and enter into the
Declaration of Trust. The Clerk -Treasurer is hereby authorized to execute all
the documents necessary for the City to enter into the Declaration of Trust.
Section 2. The "Authorized Officials" of the City are hereby authorized to invest
its monies and to withdraw such monies in accordance with the Declaration of
Trust and pursuant to the Fixed -Rate Investment Service available to Participants
of the Fund.
Mayor
ATTEST:
The motion for the adoption of the foregoing resolution was duly seconded by
member Anne Theis and upon vote being taken thereon, the following
voted in favor thereof:
John Ferris, James Johnson, Thies, Philip Zietlow and Mayor Theis
and the following voted against: None
and the following were absent: None
Whereupon said resolution was declared duly passed and adopted this 17th day
of May
, 19 94 .
(List the name(s) and title(s) of the officer(s) and official(s) who will be authorized to invest and withdraw
iunicipality monies in and from the Fund and pursuant to the Fixed -Rate Investment Service. You may have any
umber of Authorized Officials; attach an additional list if necessary)
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Printed Name
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Printed Name itle
Printed Name
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Printed Name Title
The treasurer shall advise the Fund of any changes in Authorized Officials in accordance with procedures established
by the Fund.
Section 3. The Trustees of the Fund are hereby designated as having official custody of this municipality's monies
which are invested in accordance with the Declaration of Trust.
ection 4. State banks, national banks, and thrift institutions located either within or without the State of
linnesota which qualify as depositories under Minnesota law and are included on a list approved and maintained
for such purpose by the Investment Advisor of the Fund are hereby designated as depositories of this municipality
pursuant to Minnesota Statutes Section 118.005 and monies of this municipality may be deposited therein, from
time to time in the discretion of the Authorized Officials, pursuant to the Fixed -Rate Investment Service available to
Participants of the fund.
It is hereby certified that (inert name�df the m municipality) duly adopted the Model Resolution at a duly
convened meeting of the board held on the day of 5 /7, 199 , and that such Resolution is in full force and effect
on this date, and that such Resolution has not been modified, amended, or rescinded since its adoption.
Sit at �ebtce
(or Treasurer) of Municipality
s-7/7/i
Date
Note: A copy of this Model Resolution should be completed, attached to the Registration Form (FORM B), and
failed to the fund's Sub -Administrator, Cadre Consulting Services Inc., 905 Marconi Avenue, Ronkonkoma, New
ork 11779. It is only necessary to adopt this Model Resolution for the first account opened by the municipality.
This form may be photocopied.
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FORM B
4M Fund
REGISTRATION FORM
I. BASIC INFORMATION -
Name of City, County, Town, Public Authority, Public Corporation, Public Commission, Special District, or
Instrumentality (hereinafter the municipality").
Name of Account
;A h er t&
1_
Name of Municipality L /7 /I� 0 7c /''/ e c(i 0 �.
Street _2D 5Z eoc+1,?y eo41(
Address
City/Zip Him i , /14W
Attention J /7/.1A7
Telephone Number (.7 7 ‘(1'.j
Federal Identification Number Li/ — 660f O/ 1
II. WITHDRAWAL INFORMATION AND AUTHORIZATION
Authorization is hereby given for the Fund to honor any request, believed by it to be authentic, for the withdrawal,
in whole or in part, of the monies of the municipality from the Fund. Unless withdrawn by means of the check
writing privilege afforded to Participants of the Fund, monies of the municipality withdrawn from the Fund shall be
wire transferred by the Fund only to the bank account of the munici ality listed below:
Bank Name ��l I' ^,, J'V/I .S7 -z L Il o/ h y� -e
Account Number
Bank Address
36 9v
III. CHECK WRITING OPTION
The municipality wishes to use the optional check writing Service: Ye No circle one)
If yes, the number of Fund account checks initially required for use by the municipality is: 250, 500,
Other (please fill in amount.) Number of signatures required on each check is
Please check here if your municipality would like a specification sheet for computerized checks. (Please allow 2
weeks for delivery of your free checks.)
IV. INFORMATION STATEMENT AND DECLARATION OF TRUST
It is hereby certified that the municipality has received a copy of the Information Statement of the Fund and the
Declaration of Trust creating the Fund, and agrees to be bound by the terms of such documents.
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