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City of Elk River <br />Housing and Redevelopment Authority <br />Resolution 25-01 <br />A Resolution Authorizing Membership in the 4M Fund <br />WHEREAS, Minnesota Statutes (the Joint Powers Act) provides that governmental units <br />may jointly exercise any power common to the contracting parties; and <br />WHEREAS, the Minnesota Municipal Money Market Fund (the 4M Fund) was formed in <br />1987, pursuant to the Joint Powers Act and in accordance with Minnesota Investment <br />Statutes, by the adoption of a joint powers agreement in the form of a Declaration of Trust; <br />and <br />WHEREAS, the Declaration of Trust, which has been presented to this Council, <br />authorizes municipalities of the State of Minnesota to become Participants of the Fund and <br />make use from time to time including the 4M Liquid Asset Class, the 4M Plus Class, the <br />Term Series, the 4M Limited Term Duration Fund, the Fixed Rate Programs, and other <br />Fund services offered by the Fund; and <br />WHEREAS, this Council deems it to be in the best interest for the municipality to make <br />use of, from time to time, the approved services provided by the 4M Fund’s service <br />providers including the Investment Advisor (PMA Asset Management, LLC), the <br />Administrator (PMA Financial Network , LLC), the Distributor (PMA Securities, LLC) or <br />the Fixed Rate Program Providers, PMA Financial Network, LLC and PMA Securities, LLC <br />and the Custodian, U.S. Bank National Association, (“Service Providers”) and/or their <br />successors. <br />WHEREAS, this Council deems it advisable for this municipality to enter into the <br />Declaration of Trust and become a Participant of the Fund for the purpose of joint <br />investment with other municipalities so as to enhance the investment earnings accruing to <br />each; now, therefore, BE IT RESOLVED AS FOLLOWS: <br />Section 1. This municipality shall become a Participant of the Fund and adopt and enter <br />into the Declaration of Trust, a copy of which shall be filed in the minutes of this meeting. <br />The appropriate officials are hereby authorized to execute those documents necessary to <br />effectuate entry into the Declaration of Trust and the participation of all Fund programs. <br />Section 2. This municipality is authorized to invest monies from time to time and to <br />withdraw such monies from time to time in accordance with the provisions of the <br />Page 31 of 35