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<br />rll ---'\) <br />( ); <br />'l~ <br /> <br />**CONSENT AGENDA ITEM 6.7.** <br /> <br /> <br />TO: <br /> <br />MAYOR & CITY COUNCIL <br /> <br />FROM: <br /> <br />LORI JOHNSON, FINANCE DIRECTOR <br /> <br />DATE: JANUARY 7, 1994 <br /> <br />SUBJECT: RESOLUTION AUTHORIZING EXECUTION <br />OF PROXY IN FAVOR OF CERTAIN <br />AMENDMENTS TO THE DECLARATION OF <br />TRUST OF THE MINNESOTA MUNICIPAL <br />MONEY MARKET FUND <br /> <br />The City is a participant of the Minnesota Municipal Money <br />Market Fund which is sponsored by the League of Minnesota <br />Cities to offer additional investment alternatives to cities. <br />Elk River has been a participant in the 4M Fund since its <br />inception in the late 80's. <br /> <br />e <br /> <br />The technical advisory board of the 4M Fund has proposed <br />changes in the 4M Fund Trust document. The City Council is <br />asked to approve the attached resolution authorizing a League <br />representative to vote on behalf of the City in favor of the <br />proposed amendments. I will not go into the amendments in <br />detail other than to say that the amendments fall under the <br />guidelines of Minnesota municipal investment law and are being <br />proposed in order to increase yields and offer more <br />alternatives to cities. <br /> <br />The Council is asked to approve the attached resolution as <br />presented. If you have any questions or concerns on this <br />issue, please feel free to contact me prior to Monday's meeting. <br /> <br />e <br /> <br />P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br />