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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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corporate securities and to delegate discretionary powers and to pay any <br />assessments or charges in connection therewith; and generally to exercise any of <br />the powers of an owner with respect to stocks, bonds, securities or other property <br />held in the Trust; <br />(i) To make, execute, acknowledge and deliver any and all documents of <br />transfer and conveyance and any and all other instruments that may be necessary <br />or appropriate to carry out the powers herein granted; <br />(j) To raze or move existing buildings; to make ordinary or extraordinary <br />repairs, alterations or additions in and to buildings; to construct buildings and <br />other structures and to install fixtures and equipment therein; <br />(k) To pay or cause to be paid from the Trust any and all real or personal <br />property taxes, income taxes or other taxes or assessments of any or all kinds <br />levied or assessed upon or with respect to the Trust; <br />(1) To exercise all the further rights, powers, options and privileges granted, <br />provided for, or vested in trustees generally under applicable federal or state laws, <br />as amended from time to time, it being intended that, except as herein otherwise <br />provided, the powers conferred upon the Trustee herein shall not be construed as <br />being in limitation of any authority conferred by law, but shall be construed as <br />consistent or in addition thereto. <br />4.2 Additional Trustee Powers <br />In addition to the other powers enumerated above, the Trustee in any and all <br />events is authorized and empowered: <br />(a) To invest funds pending required directions in any type ofinterest-bearing <br />account, including, without limitation, time certificates of deposit or interest- <br />bearing accounts issued by the Trustee, or any mutual fund or short term <br />investment fund ("Fund"), whether sponsored or advised by the Trustee or any <br />aff Bate thereof); the Trustee or its affiliates may be compensated for providing <br />such investment advice and providing other service to such Fund, in addition to <br />any Trustee's fees received pursuant to this Trust Agreement; <br />(b) To cause all or any part of the Trust to be held in the name of the Trustee <br />(which in such instance need not disclose its fiduciary capacity) or, as permitted <br />by law, in the name of any nominee, and to acquire for the Trust any investment <br />in bearer form, but the books and records of the Trust shall at all times show that <br />all such investments are a part of the Trust and the Trustee shall hold evidences of <br />title to all such investments; <br />(c) To serve as custodian with respect to the Trust Assets; <br />12 <br />NB1:657t92.8 <br />
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