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FULL PACKET_2010-12-20
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FULL PACKET_2010-12-20
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1/3/2012 3:56:09 PM
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12/17/2010 11:58:46 AM
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City Clerk
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Agenda Packet
Date
12/20/2010
Destruction Year
2015
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<br /> <br /> <br /> <br /> <br /> acknowledges receipt of prospectuses for such funds; <br /> <br /> (f) To borrow money for the purposes of the Trust from any source other than a party in <br /> interest of the Plan, with or without giving security and to pay interest, to issue promissory notes and to <br /> secure the repayment thereof by pledging all or any part of the Trust assets; <br /> <br /> (g) To take all of the following actions as directed by a fiduciary or other person with <br /> investment discretion over the Trust assets; to vote proxies of any stocks, bonds or other securities; to <br /> give general or special proxies or powers of attorney with or without power of substitution; to exercise <br /> any conversion privileges, subscription rights or other options, and to make any payments incidental <br /> thereto; to consent to or otherwise participate in corporate reorganizations or other changes affecting <br /> corporate securities and to delegate discretionary powers and to pay any assessments or charges in <br /> connection therewith; and generally to exercise any of the powers of an owner with respect to stocks, <br /> bonds, securities or other property held in the Trust; <br /> (h) To make, execute, acknowledge and deliver any and all documents of transfer and <br /> conveyance and any and all other instruments that may be necessary or appropriate to carry out the <br /> powers herein granted; <br /> <br /> (i) To pay, or cause to be paid, from the Trust any and all real or personal property taxes, <br /> income taxes or other taxes or assessments of any or all kinds levied or assessed upon or with respect to <br /> the Trust or the Plan; <br /> <br /> 0) To enter into, modify, renew and terminate annuity contracts of deposit administration <br /> of immediate participation or other group or individual type with one or more insurance companies and <br /> to pay or deposit all or any part of the Trust thereunder; to provide in any such contract for the <br /> investment of all or any part of funds so deposited with the insurance company in securities under <br /> separate accounts; to exercise and claim all rights and benefits granted to the contract holder by any such <br /> contracts; <br /> (k) To exercise all the further rights, powers, options and privileges granted, provided for, <br /> or vested in trustees generally under applicable federal or state laws, as amended from time to time, it <br /> being intended that, except as herein otherwise provided, the powers conferred upon the Trustee herein <br /> shall not be construed as being in limitation of any authority conferred by law, but shall be construed as <br /> in addition thereto. <br /> <br /> 3.2 Additional Powers. In addition to the other powers enumerated above, and whether or not the <br /> Plan Administrator has retained investment authority, the Trustee in any and all events is authorized and <br /> empowered: <br /> (a) To invest funds in any type of interest-bearing account including without limitation, <br /> time certificates of deposit or interest-bearing accounts issued by Union Bank, N.A., or any mutual fund <br /> or short term investment fund ("Fund"), whether sponsored or advised by Union Bank, N.A. or any <br /> affiliate thereof, Union Bank, N.A. or its affiliate may be compensated for providing investment advice <br /> or other services to such Fund, in addition to any Trustee's fees received pursuant to this Trust <br /> Agreement; provided, that such compensation is reasonable; <br /> <br /> (b) To cause all or any part of the Trust to be held in the name of the Trustee (which in <br /> such instance need not disclose its fiduciary capacity) or, as permitted by law, in the name of any <br /> <br /> 8 <br /> <br /> 55A-26 <br />
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