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<br />iii. <br />December 31, 2016. One of those will be replaced by an appointee of the Advisory <br />Committee and one will be replaced by an appointee of the NJPA Board. <br /> <br />iv. <br />December 31, 2017. That Board Member will be replaced by an appointee of the NJPA <br />Board. <br /> <br />v. <br />expire on December 31, 2018. One of those will be replaced by an appointee of the <br />Advisory Committee and one will be replaced by an appointee of the NJPA Board. <br /> <br />3.2 Upon Dissolution of the SC. In the event that the SC is dissolved, the Board of Trustees shall <br />continue to exist and its members shall be elected or appointed solely from the governing bodies of the <br />Participant Members to this Agreement in a manner consistent with the provisions of the Joint Powers <br />Act, Minn. Stat. 471.59, Subd. 2. Any administrative services provided by the SC prior to its dissolution <br />shall be provided thereafter as determined by the SC Board of Directors in its discretion. <br /> <br />SECTION 4: <br />RIGHTS AND RESPONSIBILITIES OF THE TRUSTEES <br /> <br />4.1 Authorized Powers. The Trustees will exercise all lawful powers and duties necessary and <br />incidental to the implementation of the purposes set forth herein, including, but not limited to, the <br />adoption of by-laws to govern the functioning of the Board of Trustees, provided that no by-law or action <br />of the Trustees will be contrary to the terms of this Agreement or statute. Pursuant to Minn. Stat. 471.59, <br />Subd. 2, in addition to any other powers specifically delegated to the Trustees by this Agreement, the <br />Trustees are hereby authorized to: <br /> <br />i. adopt by-laws to guide the processes of the Trustees sufficient to support the day-to-day <br />operations of the Risk Management Pool; <br /> <br />ii. approve the annual budget; <br /> <br />iii. contract with other parties for the provision of programs, services, expertise or as <br />otherwise necessary for the effective operation of the Board of Trustees and the Risk <br />Management Pool. <br /> <br />iv. establish, procure and administer Group Employee Benefits and Other Financial and Risk <br />Management Services; <br /> <br />v. define and clarify requests for proposals, rights and responsibilities, length of contract, <br />premium or contribution rates and other costs, termination guidelines, the relative <br />liability of the parties, and the method(s) by which parties to this Agreement shall <br />exercise their common powers; <br /> <br />vi. receive, collect, hold, invest, expand, disburse, and account for Program Funds in <br />connection with the exercise of its powers under this Agreement; and <br /> <br />6 <br />Rev. 7/2015 <br /> <br />