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RESOLUTION 87- 14 CITY OF ELK RIVER . It. RESOLU'l'ION AUTHORIZING ENTRY INTO A JOINT POWERS AGREEMENT IN THE FORM OF It. DECLARATION OJ TRUST ESTABLISHING AN ENTITY KNOWN AS "MINNESOTA MUNICIPAL MONIY MARKET JUND" AND AUTHORIZING PARTICIPATION IN CERTAIN INVESTMENT PROGRAMS IN CONNECTION THEREWITH WHEREAS. Minnesota Statutes Section 471.59 (the "Joint Powers Act") provides among other things that governmental units. by agreement entered into through action of their governing bodies. may jointly or cooperatively exercise any power common to the contracting parties. and; WHEREAS. the Minnesota Municipal Money Market Fund was formed in January 1987 pursuant to the Joint Powers Act by the adoption of a joint powers agreement in the form of a Declaration of Trust by a group of Minnesota Municipalities acting as the Initial Participants thereof. and; WHEREAS. the Declaration of Trust has been presented to this Council. and; WHEREAS. the Declaration of Trust authorized municipalities of the State of Minnesota to adopt and enter into the Declaration of Trust and become Participants of the Fund. Municipality shall mean city. county. town. public authority. public corporation. public commission. special district. and any "instrumentality" (as that term is defined in the Joint Powers Act) of a municipality. and; . WHEREAS. this Council deems it to be advisable for this municipal to adopt and enter into the Declaration of Trust and become a Participant of the Fund for the purpose of the joint investment of this municipality's so as to enhance the investment earnings accruing to each. and; WHEREAS. this Council deems it to be advisable for this municipality to make use from time to time. in the discretion of the officials of the municipality identified in Section 2 of the following Resolution. of the Fixed-Rate Investment Program available to Participants of the Fund. NOW. THEREFORE. BE IT RESOLVED AS FOLLOWS: . Section 1. This municipality shall join with other municipalities (as such term is defined in the Declaration of Trust) in accordance with the Joint Powers Act by becoming a Participant of the Fund and adopting and entering into the Declaration of Trust. effect as if it had been set out verbatim in this resolution. and a copy of the Declaration of Trust shall be filed in the minutes of the meeting at which this Resolution was adopted. The Mayor and the Clerk/Treasurer of this Council are hereby authorized to take such actions and execute any and all such documents as they may deem necessary and appropriate to effectuate the entry of this municipality into the Declaration of Trust and the adoption thereof by this municipality.