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8F Consent 2009 0518
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8F Consent 2009 0518
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5/15/2009 10:48:02 AM
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5/15/2009 10:48:00 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
5/18/2009
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_CC Agenda 2009 0518
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2009\Packet 2009 0518
Reso 2009-067
(Reference)
Path:
\City Clerk\City Council\Resolutions\2009
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(c) To buy, sell, assign, transfer, acquire, loan, lease (for any purpose, <br />including mineral leases), exchange and in any other manner to acquire, manage, <br />deal with and dispose of all or any part of the Trust property, for cash or credit <br />and upon any reasonable terms and conditions; <br />(d) To make deposits, with any bank or savings and loan institution, including <br />any such facility of the Trustee or an affiliate thereof provided that the deposit <br />bears a reasonable rate of interest; <br />(e) To invest and reinvest the Assets, or any part thereof in any one or more <br />collective investment trust funds, including common and group trust funds that <br />consist exclusively of assets of exempt pension and profit sharing trusts and <br />individual retirement accounts qualified and tax exempt under the Code, that are <br />maintained by the Trustee or an affiliate thereof. The declaration of trust or plan <br />of operations for any such common or collective fund is hereby incorporated <br />herein and adopted into this Trust Agreement by this reference. The combining of <br />money and other assets of the Trust with money and other assets of other non- <br />qualified trusts in such fund or funds is specifically authorized. Notwithstanding <br />anything to the contrary in this Trust Agreement, the Trustee shall have full <br />investment responsibility over assets of the trust invested in such commingled <br />funds. If the plait and trust for any reason lose their tax exempt status, and the <br />Assets have been commingled with assets of other tax exempt trusts in Trustee's <br />collective investment funds, the Trustee shall within 30 days of notice of such loss <br />of tax exempt status, liquidate the Trust's units of the collective investment <br />fund(s) and invest the proceeds in a money market fund pending investment or <br />other instructions from the Plan Administrator. The Trustee shall not be liable for <br />any loss or gain or taxes, if any, resulting from said liquidation; <br />(f) To place uninvested cash and cash awaiting distribution in one or more <br />mutual funds and/or commingled investment funds maintained by or made <br />available by the Trustee or any of its affiliates, and to receive compensation from <br />the sponsor of such fund(s) for services rendered, separate and apart from any <br />Trustee's fees hereunder. The Trustee or its affiliate may also be compensated for <br />providing investment advisory services to any mutual fund or commingled <br />investment funds; <br />(g) To borrow money for the purposes of the Trust from any source with or <br />without giving security; to pay interest; to issue promissory notes and to secure <br />the repayment thereof by pledging all or any part of the Assets; <br />(h) To take all of the following actions: to vote proxies of any stocks, bonds <br />or other securities; to give general or special proxies or powers of attorney with or <br />without power of substitution; to exercise any conversion privileges, subscription <br />rights or other options, and to make any payments incidental thereto; to consent to <br />or otherwise participate in corporate reorganizations or other changes affecting <br />N B I :657192.8 <br />11 <br />
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