HomeMy WebLinkAboutSP November 24, 1987
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CITY of ANDOVER
SPECIAL .CITY COUNCIL MEETING - NOVEMBER 24, 1987 - AGENDA
7:30 P.M. l.
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Call to order
Lund's Evergreen Estates 4th Addition Final Plat, Cont.
V. Erickson Water Service
Storm Drainage P1an/87-11/Schoo1, Winslow Hills,
Oak Bluff
Vacation of Easement Public Hearing, Cont.
Commercial Park Lot Prices
4M Fund
City Hall Addition Sprinkling
Crosstown Drainage P1an/87-3B
Contract Change Orders/87-3B, 87-10, 87-7
Approval of Minutes
Adjournment
FUTURE ITEMS:
-Assessment Manual
-County Road Assessments
-Grading and Filling Permit
-Sign Ordinance
-Budget
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CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE
November 24, 1987
AGENDA SECTION
NO.
ORIGINATING DEPARTMENT
APPROVED FOR
AGEND
2
Engineering
ITEM Lund's Evergreen
NO. Estates 4th Addition
Final Plat, Con't...
.-1"1 .t\
BY: Todd J. Haas
BY:
The City Council is requested to approve the final plat for Lund's
Evergreen Estates 4th Addition.
The final plat is in comformance with the preliminary plat and is
consistant with the zoning Ordinance.
The streets of Lund's Evergreen Estates 4th Addition have been
constructed and inspected by the city. 167th Lane at this time
of writing has not been completed but it is expected to be completed
by the November 24, 1987 City Council Meeting.
It is recommended the plat be approved subject to the following:
1. Grading of entire site is fully completed.
2. A warranty escrow for one year in the amount of $11,875.00
for grading, topsoil, seeding, and street improvements.
3. Title opinion by City Attorney
4. Park Dedication fees of $1,400.00
5. Security in the amount of $ to cover legal, engineering
consultant, street signs and installation costs.
COUNCIL ACTION
MOTION BY
TO
SECOND BY
CITY OF ANDOVER
COUNTY OF ANOKA
STATE OF MINNESOTA
o
RES. NO.
MOTION by Councilman
to adopt the following:
A RESOLUTION APPROVING THE FINAL PLAT OF LUND'S EVERGREEN ESTATES
4TH ADDITION AS BEING DEVELOPED BY JAMES LUND IN SECTION 09-32-24
WHEREAS, the City Council approved the preliminary plat of
Lund's Evergreen Estates 4th addition; and
WHEREAS, the developer has presented th~ final plat of
Lund's Evergreen Estates 4th Addition; and
WHEREAS, the City Attorney has presented a favorable Title
opinion on the property being platted; and
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Andover to hereby approve the final plat of Lund's Evergreen
Estates 4th Addition contingent upon receipt of the following:
1. Security in the amount of $ to cover legal,
engineering, consultant, street sign and installation
costs.
2. Warranty escrow for grading, topsoil, seeding and street
improvements of $11,875.00.
3. park Dedication fees in the amount of $1,400.00.
Adopted by the City Council of the City of Andover this 24th day of
November, 1987.
CITY OF ANDOVER
ATTEST:
Jerry windschitl - Mayor
Victoria Volk - City Clerk
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CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE November 24, 1987
BY: Todd J. Haas
APPROVED FOR
::EN~A u
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ITEM
NO.
V. Erickson Water
Service
ORIGINATING DEPARTMENT
Engineering , J__
~fff
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AGENDA SECTION
NO.
3
Information will be given to you the night of the City Council
Meeting.
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MOTION BY
TO
COUNCIL ACTION
SECOND BY
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CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
AGENDA SECTION
NO. 4
ITEM Storm Drainage Plan/
NO. 87-11/School, Winslow
DATE
November 24, 1987
ORIGINATING DEPARTMENT
Engineering
APPROVED FOR
AGENDA
BY: James E. Schrantz
BY:
The City Council is requested to approve the Storm Drainage
Plan. John Rodeberg will be at the meeting to discuss this
along with information.
Q
MOTION BY
TO
COUNCIL ACTION
SECOND BY
o
CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE November 24, 1987
ITEM
NO.Vacation of Easement/ Oak
Bluff BY: n;,rv' n ..
'1)t>W\
APPROVED FOR
AGENc~
BY: !
AGENDA SECTION
NO.
S
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ORIGINATING DEPARTMENT
Planning
This item was tabled at the last meeting so that Council could
review the Comprehensive storm Drainage Plan for the area before
rendering a decision on the vacation of easement request. The
. storm Drainage plan, 87-11, is on the agenda for this meeting.
The request is to vacate that portion of the drainage easement on
the petitioner's property up to the 100 year flood line. The 100
year flood elevation may change due to the new development
occurring in the area.
I have enclosed a copy of the survey that the petitioner
presented at the last meeting.
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MOTION BY
TO
COUNCIL ACTION
SECOND BY
CAINE 8 ASSOCIATES
LAND SURVEYORS, INe.
17720 Highway 65 N.E. - Ham Lake, Minnesota 55304
434 - 7646
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CERTIFICATE OF SURVEY FOR: Chuck Moerke
DESCRIBED AS:
Lot 7, Block 2, OAK BLUFF, according to
the'recorded plat thereof, Anoka
County, Minnesota. '
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I HEREBY CERTIFY THAT THIS' S'URVEY, PLAN,
OR REPORT WAS PREPARED BY ME OR /llVDER
MY DIRECT SUPERVISION AND THAT I AM A
DULY REGISTERED LAND SURVEYOR UNDER
THE LAWS OF THE STATE OF MINNESOTA.
1~~'{if c:yJ. [1J.{..~~
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DATE AlozJ.; /; 19~7 REG, NO. /225/
,
JOB Na 87- 337
SEC. 2.6 T. 3 2 R 2 4
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CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
AGENDA SECTION
NO.
DATE
ORIGINATING DEPARTMENT
November 24, 1987
6
Planning
APPROVED FOR
AGENDAg
BY, >
. ITEM
NO.
Commercial Park Lot Prices
BY:
~
Daryl D. Horev
At the November 17, 1987 meeting, Bill Hawkins stated a figure of
$205,000 for land acquisition costs. I talked to John Rodeberg
from TKDA and he stated that construction costs for Phase I of
the Commercial Park would be as listed in the feasibility report,
which would be approximately $525,580 plus half the c~st of curb
for one side of verdin street, which would be an additional
$9573. (John also informed me that there would be an additional
assessment due to the fact that the previous assessments were
based on residential, not commereial, use.r
The total cost of the project for the City, given these figures,
would be $740,153. The total cost of improvements would be
$525,580 + $9573 = 535,153. 50% of the cost of improvements is
$267,576. Adding to that figure the $205,000 cost for land
acquisition gives us a figure of $472,576. Divide that figure by
the number of lots, 12, to get the cost per lot, $39,381. The
average lot size is 59,383 square feet (1.1 aeres is the most
common sized lot). Dividing the cost per lot by the average lot
size gives us a figure of about $0.66 per square foot.
Now if we were to write down 50% of both the cost of improvements
p~us the cost of land acquisition, using the formula stated
a ove, we would get a figure of $0.52 per square foot. We may
want to consider using this latter formula as the additional
subsidy for projects of higher value.
COUNCIL ACTION
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MOTION BY
TO
SECOND BY
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Scenario 1
$525,580
9,573
$535,153
x 50%
$267,576
+205,000
$472,576
.. 12
$ 39,381
.;.. 59,383
$ 0.66
Scenario 2
$205,000
525,580
9,573
$740, 153
x 50%
$370,076
.;.. 12
$ 30,840
59,383
$ 0.52
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Write-down 50% of the cost of improvements
Construction cost
City's cost of curbing half of one side of Verdin st.
Cost of improvements
Ci ty wri te-down
Land acquisition cost
Number of lots
Cost per lot
Average lot size (in square
Total cost per square foot
I
feet)
Write-down 50% of the cost of improvements and land
acquisition
Land acquisition cost
Construction cost (minus Verdin st.)
City's cost of curbing half of one side of Verdin st.
Total cost to City
Ci ty wri te-down
Number of lots
Cost per lot
Average lot size (in square feet)
Total cost per square foot
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CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE
November 24, 1987
ITEM
NO. 4M Fund
BY: Shirley Clinton
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APPROVED FOR
AGENDA \
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BY: V
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AGENDA SECTION
NO. 7
ORIGINATING DEPARTMENT
Treasurer
The City Council is requested to review the "Minnesota Municipal
Money Market 4M Fund" as per attached Declaration of Trust, and
approve the attached resolution.
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MOTION BY
TO
COUNCIL ACTION
SECOND BY
o
"
MINNESOTA MUNICIPAL
MONEY MARKET FUND
(A Minnesota entity formed
pursuant to the
Minnesota Joint Powers Act)
DECLAR.AnO~ OF TRUST
(As adopted in January, 1917)
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TABLE OF CONTENTS
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JlECIT ALS 6
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ARTICLE I
The 4M Fund
Section 1.01 Name 7
Section 1.02 Purpose; Only Certain Minnesota Municipalities to be Participants 7
Section 1.03 Location 7
Section 1.04 Nature of "M Fund and Declaration of Trust .
Section 1.05 Definitions .
ARTICLE n
Powers of the Trustees
. Section 2.01 General 10
Section 2.02 Permitted IIlvestments 10
Section 2.03 Lelal Title 11
Section 2.04 Disposition of Assets 11
Section 2.05 Taxes 12
Section 2.06 Ililhts . Holders of Fund Property 12 .
Section 2.07 Delelation; Committees 12
Section 2.01 Collection 12
Section 2.09 Payment of ExpetlSes 12
Section 2.10 Borrowinl aDd IIldebtedness 13
Section 2.11 Deposits 13
Section 2.12 Valuation 13
Section 2.13 Fiscal Year; Accounts 13
Section 2.1" Concenainl the Fund aDd Certain Affiliates 13
Section 2.15 !Dvestment Prolram I"
Section 2.16 Power to Contract, Appoint, Retain and Employ 14
Section 2.17 Insurance IS
Section 2.11 Seal IS
Section 2.19 Indemnification IS
Section 2.20 Remedies IS
Section 2.21 Information Statement IS
Section 2.22 Further Powers 16
Section 2.23 Compliance With Laws 16
Section 2.2.. Tax or Aid or Revenue ADticipationBorrowing 16
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Section 3.01
Section 3.02
Section 3.03
Section 3.04
Section 3.05
Section 4.01
Section 4.02
SectiOD 4.03
Section 5.01
Section 5.02
Section 5.03
Section 5.04
Section 5.05
Section 5.06
Section 5.07
Section 5.01
Section 5.09
Section 6.01
Section 6.02
Section 6.03
Section 6.04
Section 6.0S
Section 6.06
Section 6.0;
Section 6.08
Section 6.09
ARTICLE DI
Technical Advisor\' Board Investment Adviser. Administrator and Custodian
Appointment
Duties of the Adviser
Duties of the Administrator
Duties of the Custodian
Successors
16
17
17
17
17
ARTICLE IV
Investm!nts
Statement of IDvestment Policy ud Objective
Restrictions Fundamental to the Fund
Amendment of Restrictions
17
II
19
ARTICLE V
Limitations or LiabiHtv
Liability to Third Persons
Liability to the Fund or to the Participanu
IDdemnifjcation
Surety Bonds
Apparent Authority
Recitals
Reliance on ExperU, Etc.
Liability Insurance
No Waiver
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21
ARTICLE VI
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In!!r!:!!! or Partici"ants
General 21
Allocation or Shares 22
Evidence of Share Allocation 22
Reduction ill Number of Shares to Maintain Constant Net Asset Value 22
Withdrawals 22
Suspension or Rilht of Withdrawal; Postponement of Payment 22
Minimum Withdrawal 23
Defective Withdrawal Requesu 23
Allocation of Certain Expenses 23
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Section 11.1
Section 11.2
Section 11.3
Section 11.4
Section 11.5
Section 11.6
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Section 12.1
Section 13.1
Section 13.2
Sectio1L13.3
Section 14.1
Section 14.2
Section 14.3
Section 14.4
Section 14.5
Section 14.6
Execution
ARTICLE XI
Custodian
Duties
Appointment
Custodian Aareement
Aaents of Custodian
Successon
Custodian IS Depository (or Participants
29
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29
ARTICLE XU
Recordinl! of Declaration of Trust
Recordina
30
ARTICLE XUI
Amendment or Termination of Fund' Duration of Fund
Amendment or Termination
Power to Effect Reoraanization
Duration
30
31
31
ARTICLE XIV
Mjscetlln~oul
Goveroina Law
Counterparts
Reliance by Third Parties
Provisions in Connict with Law
Gender; Section Headinas
Adoption by Municipalities Electina to Become Additional
Participants; ResiaDation of Participants
31
31
32
32
32
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WIT N ESE T H:
WHEREAS, Miaaesota Statutes, Section 471.59 (the -Joiat Powers Act-) pn'lli*. among
other things, that lovemmental units (as such term is defiaed thereia), by agreeaeJlt' -..odS iato
through action of their lovemial bodies, may joilltly or cooperatively exercise aD! pOWlS -mon
to the coatractial parties; and
. .~.....
WHEREAS, the term -,ovemmeatal uait" is defiaed in the Joiat POWelS .11:= II>> iKlude
muaicipality as defiaed herein; aad
WHEREAS, all or the IDhial ParticiplDts are Municipalities of the Srw d U"-IJla
that desire to eater into an alreemeat and thereby establish an eDtity for joint iI~ ader
the provisions of the aforemeatioaed Joint Powers Act, pursuant to this Declaratio f1I TI1I5l for
the purpose of combwnl their respective available investment funds Dot curreatl, -....4 .,. such
Municipalities 10 as to eahance the investment opportunities available to them ., iKnase the
investmeat eaminls accruinl to them respectively; and
. WHEREAS, this Declaratioa of Trust is intended to be an alreelDllllD eel into
pursuant to the Joint Powers Act for the purpose of better exercisinl the Parti~ powoer to
iIIvelt their respective funds in accordance with the Laws of the State of MiDnesolllrO lull
WHEREAS, the Board or Couacil of each of the lDitial ParticiplDts bII lIaIiJ IIIIIopIt,d a
resolution authorwnl the applicable lDitial Participant to become I party to, and .. _........d. this
DeClaratiOD of Trust pursuant to the JoiDt Powers Act; and
WHEREAS, the Board or Council of eacb of the IDitial ParticipaDts, by ie "0. .;oned
approval of this Declaration or Trust, lias autborized the iDvestmeDt of (unds f!I ... "hial
Participant iD investmeDts of the Dlture permit~d by MiDDesOta Law, .. applic:aM. ... ill tbe
mlnDer contemplated by this DeclaratioD of Trust; and
WHEREAS, it is proposed that the beneficial iDterest iD the 4M FUDch -.s dIaD be
divided into Don.traDSferable abares of beneficial interest, wbicb abaII be evid__ .,. . share
relister maintained by the 4M Fund or its ..ent; and
WHEREAS, the lDitial Panicipaats anticipate the other Municipalities t1l . SDle of
Minnesota may wisb to become Participants by adoPtial this Declaration of Trust" ... 1lecom-
ing parties to it;
NOW, mEREFORE, the laitial Panicipants hereby declare that all __I.. _ets,
securities, (unds and propeny DOW or hereafter acquired pursuant to this ..reem. sIaII be beld
and manaled ia trust for the equal and proportionate benefit of the holders of recaod r- time to
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time of .hares beDeficial iDterest herein, withoutprivj]eBe, priority or distinction UlonB such
holders, and subject to the terms, covenants, conditions. purposes and provisions hereof.
ARTICLE I
The .eM Fund
1.01 ~. The Dame of the common law trust created by this Declaration of Trust
shall be -Minnesota Municioat Monev Market Fund" (the .eM Fud) and, 10 (ar as may be practica-
ble, the Trustees shall conduct the .eM Fund's activities, execute all documents and sue or be sued
. under that Dame, which Dame (and the word -.M Fund" wherever used iD this Declaration of Trust,
except where the contut otherwise requires) sball refer to the Trustees iD their capacity as
Trustees, and Dot iDdividually or personally, and shall Dot refer to the officers, alents. employees.
counsel, advisers, consuttaDts, accountants, or Participants of the UM Fud or of such Trustees.
Should the Trustees determine that the use of luch DUle is Dot practicable, hlal or convenient,
they may use such other desilDation or they may adopt such other lWDe (or the .M Fund as the)'
deem proper, aDd the .eM Fud may hold property IDd conduct its activities WIder luch desilnation
or Dame. The Trustees shall take such actions as they, actinl with the advice o( coUII.Sel, shall
deem necessary or appropriate to rue or relister .uch lWDe ia accordaDce with the Laws of the
State of Minnesota or the United States of America 10 as to protect and reserve the rilht of the
.eM Fund ia and to .uch Dame.
1.02 Pumose' Onlv Certain Minnesota Municioatities to be Particioants.
_ . (a) The purpose of the .eM Fund is to provide a llleans throuBb which
Municipalities may jointly and cooperatively exercise their power to iavest their respective available
(unds 10 as to enhance their iavesttDent opportunities pursuant to an iavestment prolnm conducted
ia accorc1aDce with the Laws of the State of Minnesota, (rom time to time in effect, loveminl the
iavestment of the Municipal Fuds. ODJy Municipalities orlaniz.ed WIder the Laws of the State of
MiDJlesota may become Participants. A Municipality may become a party to this Declaration of
Trl1St aDd may place. moneys ia the .eM Fund only after its Board or CoWlcil has duly adopted a
resolution, or taken other applicable official action, . authoriziDl such Muicipality to become a
Participant o( the .M Fund IDd adoptinl this Declaration of Trust.
(b) It is Dot aecessary (or a.mwUcipality to place aD)' fuds ia the .eM Fund
to become a Participant, aDd DO minimum iavestment balance ml1St be maiataiDed by a Municipalit)'
which has become a Participant ia order (or such Municipality to continue to be a Participant.
1.03. Loeation. The.eM Fund Ihall maintain ID office of record ia the State of
Minnesota aDd may maintain such other offices or places of bl1Siness as the Trustees may (rom time
to time determine. The iaitial office of record of the .eM Fund shall be: c/o Lealue of Minnesota
Cities, 113 University Ave. Eat, St. Paul, Minnesota 55101. The office of record may be cbanled
(rom time to time by resolution o( the Trustees, aDd Dotice of such chaDle of the office of record
,hall be liven to each Participant.
. ,.04 Nature of .eM Fund Ind Declaration (If Trust.
. .. (a) The.eM Fund shall be a common law tnlSt (also knOWD II . 1tl1Sinesstrl1St) orsani-
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zed and existinl under the laws of the Stale of Minnesota. The 4M Fund is nOI intended 10 be.
.hall not be deemed to be, and shall not be treated as, a ,enera] partnership, limited partnership.
joint venture, corporation, iDveument company, joinl Slock association or joint stock compan)'.
The Participants shall be beneficiaries of the 4M Fund, and their relationship to the Trustees shall
be lolely in their capacity as Particip.nts and benefici.ries in .ccordance witb the rilhts conferred
upon them hereunder.
(b) This Decl.ration of TrusI is an alreement of indefinite term reludinl the joint or
cooperative exercise of a power common to the parties thereto within the mean in I of the Joint
Powers Act.
1.05 Definitions. As used iD this Decl.ration of Trust, the following terms shall have
the followinl meanings unless the context hereof otherwise requires:
WAdministrator" shall me.n any Person or Persons appointed, employed or contracted with
by the Trustees under the applicable provisions of Section 3.1 hereof.
WAdmiDistration A,reement- .haJI me.n the a.reement with the Administrator referred to
iD Section 3.3 hereof as the same m.y be amended from time to time.
WAdviser" .haJI mean any Person or Persons appointed, employed or contracted wilh by
the Trustees under the applicable provisions of Section 3.1 hereof.
WAffiliate- .hall mean, with respecI to any Person, another Person directly or iDdireclly
controlling, controlled by or under common control with .uch Person, or any officer. director,
partner or employee of .uch Person.
-so.rd of TrusteesW or -Trustees- _hall me.n the Bo.rd of Directors of the League of
Minnesota Cities.
"CustodianW _haD mean any Penon or 'enons appointed, employed or contracted with by
. the Administrator UDder the applicable provisions of Section I J.2 hereof.
"Custodian A,reementW .h.1I me.n the a,reement with the Custodian referred to in
Section 11.1 hereof as the same may be amended from time to time.
"Declaration of TrustW Ih.1I me.n this Decl....tion of Trust as amended, restated or
modified from time to time. References in this Declaration of Trust to W[)eclaration-, "hereof",
"herein-, "hereby'" and "bereunder- lhall be deemed to refer to the Declaratioll of Trust and Ihall
Dot be limited to the particular tellt, article or IeCtion iD which luch words appear.
~mployee of a Municip.lity'" or ~unicip.1 Employee- .haJI mean a director of finance, a
finance official or other man.geriaJemployee of a Municip.lity charled with responsibilily for
municipal finance.
W4M Fund- IhaIIme&ll the common law trust cmted by this Declaration of Trust.
"
W4M Fund Property"' .ball mean, as of any p.rticular time, any and all property, real,
personal or otherwise, tanlible or iDtangible. which is transferred, conveyed or paid to the 4M
Fund or the Trustees and all iDcome, profits and ,ains therefrom and which, at .uch time, is owned
or held by, or for the account of, the 4M Fund or the Trustees.
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-JDCormation Statement- sban mean the inCormation statement or otber descriptive
document or documents adopted as sucb by the Trustees and distributed by tbe 4M Fund to
0" participIDts and potential ParticipIDts oC the 4M Fund as the AIDe may be amended by the
Trustees Crom time to time.
-mitial Participants- shan mean
whicb Municipalities initially formed the 4M Fund by the execution and adoption oC this Declaration
oC Trust.
-mvestJDent Advisory Alreement- sball mean the alreement with the Adviser reCerred to
ill Section 3.2 hereoC as the AIDe may be amended Crom time to time.
-Joint Powers Act" sball melD Minnesota Statutes, Section 471.59.
~ws- shall mean common law and all ordinlDces, statutes, rules, relulatioDS, orders.
injunctions, decisions, opinions or decrees oC any lovernment or political subdivision or alenC)'
thereoC, or any court or similar entity establisbed by any thereoC.
-rarticipants- shall mean the lIlitial Participants and the Municipalities which adopt this
Declaration oC Trust pursuant to Section 14.6 hereoC.
"ermined IIlvestments- shan mean the iIlvestments reCerred to in Paralrapb (b) or
Section 2.2 bereoC.
"erson- ahaIl mean and include individuals, corporatioDS, limited partDersbips, leneral
partnersbips, joint stock compIDies or usociations, joint ventures, USOCiatiODS, companies, trusts,
bIDks, trust compIDies, land trusts, business trusts or otber entities (which or Dot lelal entities)
and 10verDIDenu and aaencies and political subdivisions thereoC.
.
-SOard- or -COuncil" ahaIJ mean the 10verDinl body of a Municipality as defined berein.
"Municipalit~ sball mean county, city. toWll, public authority, public corporation. public
commission, special district. any other political subdivision, or an aaency of the ltate or its
subdivisions ud uy -iDStrulDentalit~ (as that term is defined iD the Joint Powers Act) of a
municipality.
"'Share- ahaIl mean the nit ued to denominate and meuure the respective am D1i
beneficial interests of the Participants in the Fund Property as described in Article VI.
"'Share Relister" ahaIl mean the relister of Shares maintained pursuant to Article vn
bereof.
-Tecbnical Advisory Board- ahaIl melD the penons appointed by the Trustees 10 act as
technical advisors to the Trust.
ARTICLE II
Powen fir the Trustees
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2.1 General. Subject to the rilhts of the Participants as provided .erein, the Trustees
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.hall have. without other or further authorization, full, uclusive and absolute power, control and
authority over the 4M Fund Property and other the affairs of the 4M Fund to the laDle extent as
if the Trustees were the sole and absolute owners of the 4M Fund Property ill their own right, and
with .uch powers of delegation as may be permitted by this Declaration of Trust. The trustees may
do and perform .ueh acts and things as ill their sole judgment and discretion are neeessary and
proper for conducting the affairs of the 4M Fund or promoting the mterests of the .eM Fund and
the Participants. The enumeration of any .pecific power or authority herein .hall not be construed
as limiting the aforesaid teneral power or authority or any specific power or authority. The
trustees may uercise any power authorized and ,ranted to them by this Declaration of Trust.
Such powers of the Trustees may be exercised without the necessity of any order or, or resort to,
any court.
2.2 Permitted Investments. The Trustees shan have full and complete power, .ubject in
all respects to Article IV hereof,
and
(a) to conduct, operate and provide an investment program for the Participants;
(b) for such consideration as they may deem proper and as may be required by
Law, to subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, sell, assign.
transfer, eKchan,e, distribute or otherwise deal in or dispose of investment instruments as permit-
ted by Law (the .Permitted Investments-). Permitted Investments include, without limitation, as of
the date hereof, the foUowina:
(i) any security which is a direct obligation of or is ,uaraDteed as to payment
f prineipal and interest by the United States of America or any a,ency or instrumentality thereof;
(iil IIwes of an investment company (I) relistered under the federal invest-
ment company act of 1940, whose shares are relistered under the federal seeurities act of 1933,
and (2) whose only mvestments are ill securities deseribelf in the precedinl clause and repurchase
. ..reements fully collateralized by those securities, if the repurchase a,reements are entered into
only with those primary reporting dealers that report to the Federal R.eserve Bank of New York
and with the 100 Iaraest United States commercial banks;
. (iii) any security which is a leneral obliaation of the State of Minnesoll or
any of its munieipalities;
(iv) lluIters acceptances of United States banks eliaible Cor purehase by the
Federal Reserve System;
(v) commercial paper Jssued by United States corporations or their Canadian
subsidiaries that is of the laiahest quality and matures in 270 days or less;
(vi) deposits iD a ..tiow bank or ill . ltate bank or thrift institution
iIlsured by the Federal Deposit Insurance Corporation or the Federal Savinls and Loan Insurance
Corporation, provided that any sueh deposit shall be insured, bonded or collateralized in the manner
required by Law and that any such bank or thrift institution shall meet criteria designated from
time to time by the Trustees;
(vii) repurchase aareements (a) with any bank qualil'ied as a depository of
money held in the debt service fund of a municipality of the State of MiDDesota or (b) with any
Dational or 11Ite bank in the United States of America whieh is . member or the Federal Reserve
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System and whose combiDed capital aDd lurplus equals or exceeds $10.000.000 or (c) with a Primary
Reporting Dealer iD UDited States GoverDmeDt Securities to the Federal Reserve Bank of New York
as luch term is deCiDed iD MiDnesota Statutes, Section 4'5.SI. SubdivisioD 11 or (d) a leCurities
broker-dealer havinl its principal executive office iD Minnesota, licensed purs\I&Dt to Chapter BOA
r an affiliate of it. relulated by the Securities and Eltchanle CommissioD and maintaining a
combined capital and surphlS or 540.000.000 or more. exclusive of subordiDated debt; and
(viii) such other iDvestment iDStruments DOW or .ereal'ter permitted b)'
applicable Law for the iDvestment or moneys of Municipalities orlanized DIlder the laws of the
State of MiDDesota.
ID the exercise or their powers, the Trustees shall Dot be limited, eKcept as otherwise
provided hereuDder. to iDvestiDl in Permitted IDvestmeDts mat\lrinl before the possible termination
of the 4M FUDd. Eltcept as othe.....ise provided iD this DeclantioD of Trust. the Trustees sban Dot
be limited by any Law DOW or bereal'ter iD effect limitiDI the iDvestments wbicb may be held or
retained by trustees or other fiduciaries. and they .hall have rull authority and power to make any
and all Permitted IIIvestmeDts within the limitatioDS of this DeclaratioD of Trust. that they. iD their
absolute discretion. ....n determiDe to be advisable and appropriate. The Trustees IhaII bave DO
liability ror loss with respect to Permined Investments m.de within the terms of this Declaration
f Trust,eveD thoulh .uch iDvestments shall be of a character or in an amouDt Dot considered
proper for the iDvestmeDt of trust fUDds by trustees or other fiduciaries. The Trustees shall be
permitted oDly to malte Permitted IDveltmeDts iD accordance with Article IV or this Declaration of
Trust.
2.3 Leul Title.
(a) Lelat title to aI1 of the 4M FUDd Property shall be ...ted iD the Tnastees on
behalf of the Participants and be beld by and traDSferred to the Trustees. .lleept that the Trustees
IhaU have rull and comptete power to cause Ielal title to any 4M FUDd Property to be _Id, on
behalf of the Participants. by or iD the lWDe of the 4M FUDd. or iD.the lWDe of any other Person
as DomiDee, OD luch terms. ID .uch maDDer. and with luch powers as the Trustees may determine,
10 10DI as iD their judlmeDt the iDterest of Ibe 4M FUDd is adequately protected.
(b) The riaht. title and IDterest or the Trustees iD and 10 the .eM FUDd Property
lhall vest automatically iD aI1 persons who may hereafter become Trustees upon their etertion to
1IIe Board of Directors or the Leslue or MinDesota Cities and qualification without any further act.
UPOD the .llpiratiOD or term or office. resilnatioD. disability. remo.... adjudicatioD as an
iDcompeteDt. or death of a Trustee. be (and iD the eveDt or ILis death. ILis _tate) shaU automa-
tically cease to have any riaht. title or iDlerest ip or to any or the .eM FUDd Property. and the
riaht. title and iDterest of luch Trustee iD and to the 4M FUDd Property ..... ...t autolllltically in
1IIe remaiDiDI Trustees without any rurther act.
2.4 PisDosition of Assets. Subject iD all respects to Article IV "reof and to Ibe Laws
from time to time applicable to MuDicipalities of the State of MiDDesota. the Trustees ....U blve
full and complete power to sell. nclwlle or othe.....ise,dispose of uy ud alI4M FUDd Property
free and cl~ar of any ud all trusts and restrictioDS. at public or private sale. for cash or on
terms, with Or without advertisemeDt. ud lubject to nch restrictions. stipulations. alreemeDts aDd
reservations as they Ihan deem proper. ud to ellecute and deliver any deed., power. assilDlDent. bill
of sale. or 09ther instrument iD conDection with the roreloiDI. The T..tees ....11 also bave full
and complete power. lubject iD all respects to Article IV bereof. and iD I'wtberuaee of the affairs
and purposes of the 4M FUDd. to live conseDts and make CODtraCts relatiq to .eM Fund Property
or its use.
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2.5 :Iam. The Trustees Ihall have full and complete power. (i) to pay all taxes or
assessments, of whatever kind of Dature, validly aJld lawfully imposed upon or alainst the .eM Fund
or the Trustees ill connection with the .eM Fund Property or upon or alainst the .eM Fund Propen)'
or income or any part thereof; (ii) to nttle aJld compromise disputed tax liabilities; and (iii) Cor
the foreloilll purposes to make .uch returns aJld do all luch other acts ud thin,s as ma)' be
deemed by the Trustees to be Decessary or desirable.
2.6 RiRhtsas Holders of .eM Fund Prooertv. The Trustees Ihall have full and complete
power to exercise on behalC of the Participants all of the rilhts, powers ud privileles appertaining
to the OWDership of all or any Permitted IDvestments or other property forminl part oC the 4M
Fund Property to the same extent that &DY iDdividual milht, ud, without JimitiDS the lenerality oC
the foreloilll, to vote or .ive aJlY consent, request or Dotice or waive aJlY Dotice either in person
or by proxy or power of attomey, with or without the power of substitution, to one or more
Persons, which proxies &Dd powers of attomey may be for meetinls or actions .enerally, or for any
particular meetiDa or action, ud may iIlclude the eiercise of discretionary powers.
2.7 pelention' Committees. The Trustees shall have full ud complete power (consistent
with their coDtinuinl exclusive authority over the maJIasement of the .eM Fund, the conduct oC its
affairs, their duties ud obliaations as Trustees, ud the lD&JIasement ud disposition of .eM Fund
Property), to deleaate from time to time to such one or more of their Dumber (who may be
desianated as constitutiDa a committee of the Trustees as provided iD Section 9.9 hereof) or to
officers, employees or aaents of the .eM Fund (iDcludina. without limitation, the Administrator, the
Adviser and the Custodian) the doina of luch acts ud thinls ud the execution of luch instruments
either ill the DUDe of the 4M Fund, or the Dames of the Trustees or as their attomey or attorneys.
or otherwise as the Trustees may from time to time deem expedient ud appropriate in the further-
uce of the busilless affairs &Dd purposes of the .eM Fund.
2.1 Collection. The Trustees shall have full ud complete power. (i) to collect, lue for,
receive and receipt for all sums of money or other property due to tile 4M Fund; (ii) to consent to
extensions of the time for payment, or to the renewal of uy securities, investments or Obligations;
. (iii) to enaaae or IDtervene m, prosecute, defend, compromise, abaJIdon or adjust by arbitration or
'otherwise &DY actions, .uits, proceedinJS, disputes, claims, demands or thinss relatinl to the .eM
Fund Property; (iv) to foreclose &DY collateral, security or Instrument securin. uy iDvestments.
Dotes. bills, bonds, obli.ations or contracts by virtue of which uy IUms of money are owed to the
4M Fund; (v) to exercise uy power of sale held by them, ud to convey .ood title hereunder free
of any ud all trusts, &Dd iD connection with uy luch foreclosure or sale. to purchase or otherwise
acquire title to &DY property; (vi) to be parties to reoraanization ud 10 transfer 10 ud deposit
with &DY corporation, committee, volin. trustee ,or other Person &Dy securities, mvestments or
oblisations of &DY person which form a part of the 4M Fund Property, for the purpose of such
reorsanization or otherwise; (vii) 10 participate in any arranaement for eDf'orcin. or protectinl the
mterests of the Trustees as the OWDers or holders of luch securities. investments or oblilltions and
10 pay &DY assessment levied in connection with luch reorsanization or t.rrIDlement; (viii) to
extend the time (with or without security) for the payment or delivery of &DY debts or propert)'
ud to execute &Dd enter mto releases, a.reements and other Instruments, &Dd (ix) to payor satisCy
&DY debts or claims upon uy evidence that the Trustees lhall deem lufficient.
2.9 "Vlnent of Exoenses. The Trustees shall have fuU aJld compJete power. (i) to
iDcur &Dd pay any charles or eXpenses which in the opinion of the Trustees are Decessary or
incidental to or proper for carryinS out uy of the purposes of this Declaration of Trust; (ii) to
reimburse others for the payment therefor, ud (iii) to pay appropriate compensation or fees from
the funds of the 4M Fund to Persons with whom the 4M Fund has contracted or transacted
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busiDess. The Trustees shall fix the compeDsatioD, if aDY, of all officers aDd employees of the 4M
FUDd. The Trustees shall Dot be paid compeDSltioD for their leDera! services as Trustees here-
UDder. The Trustees may pay themselves or any ODe r more of themselves reimbursemeDt for
expenses reasoDably iDcurred by themselves or any ODe or more of themselves OD behalf of the 4M
FUDd.
2.10 BorrowinR and Indebtedness. The Trustees shall DOt have the power to borrow
mODey or iDcur indebtedDess OD behalf of the 4M FUDd, or authorize the Fund to borrow mODe)' or
incur indebtedDess, except as provided in clause (ix) of SeCtiOD 4.2 of this Declaration of Trust. but
Diy if ad to the extent permitted by Law.
2.11 peDO$its. The Trustees lball bave full aDd complete power to deposit, in such
maDDer as may DOW or hereafter be permitted by Law, aDY mODeys or funds, included in the 4M
FUDd Property, ad iDteDded to be used for the paymeDt of expenses of the 4M Fund or the
Trustees, with ODe or more bUlks, or thrift iDstitutions meetiDlthe requiremeDts of Section
2.2(b)(vi) hereof. Such deposiu are to be subject to withdrawal iD such IDIDDer as the Trustees
may determine, ad the Trustees lhall have DO respoDSibility for aDY loss which may occur by
reasOD oC the failure of the bUlk or thrift iDstitutiOD with which the mODeys, iDveSlmeDU, or
securities have been deposited. Each lucb baDk or thrift institutioD Ihall comply, with respect to
luch deposits, with all applicable requiremeDts of aU applicable Laws, iDcludiDl, but DOt limited to,
Laws of the State of MiDDesotl relatiDI to MUDicipalities.
2.12 Valuation. The Trustees sball bave CuD aDd complete power to determine in load
faith conclusively the Value of ay of the 4M Fund Property ad to reValue the 4M Fund Property.
2.13 Fisca! Year: Accounts. The Trustees Ihall have full aDd complete power to
determine the fiscal year of the 4M FUDd aDd the method or form iD which its accounts shall be
kept aDd from time to time to cbaDle the fiscal year or method or form of accoUDts. UDless
. . therwise determiDed by the Trustees pursUaDt to this SectiOD 2.13, the fiscal year of the 4M FUDd
Ihall terminate OD June 30 aDd commeDce OD July I DC eacb c:aleDdar year. .
2.1. Coneeminll the .M Fund and Cerblin .rriliates.
(a) The 4M FUDd may eDter iDto trusactiODS with aDY Afriliate DC the 4M FUDd or
of the Adviser, the AdmiDistrator, or the Custodian or of aDY Trustee, oCficer, director of employee
oC the 4M Fund or with aDY ACfiliate oC aD alent of the 4M Fund or of the Adviser, the Adminis-
trator, or the CustodiaD if (i) each Iuch trusaction (or type of traDSlction) had, after disclosure
of such affiliation, been approved or ratified by the affirmative vote of a majority of the Trustees,
includiDI a majority oC the Trustees wbo are DOt .umiates of aDY PenoD (other tIwI the 4M FUDd)
who is a party to the traDSICtioD or traDSaCtioDS with the 4M Fund aDd (il) ncb traDSaCtiOD (or
type of tnDSlction) is, in the opiDion of the Trustees, on tenDS fair aDd reasonable to the 4M
FUDd aDd the Participants aDd at leut as Cavorable to them as limilar arnD.ements Cor comparable
transactions (oC whicb the Trustees have bowledle) with or.anizatioDS UDlffiliated with the 4M
Fund or with the PersoD who is a party to the traDSlCtiOD or trusactiODS with the 4M Fund.
(b) Except as otherwise provided in this Declaration of Trust or iD the Laws of
the Stlte oC Minnesotl, in the abseDce of fraud, a CODtraCt, act or other traDSaCtiOD betweeD the
4M Fund ud uy other PersoD, or in which the 4M Fund is blterested, II Yalid aDd DO Trustee,
orricer, employee or a.eDt oC the 4M FUDd lhall have uy liability as a ..wt or eDterinl into aD)'
luch coDtract, act or transactiOD eveD thoulh (i) ODe or more of the T. ..~, ofCicers, employees
r asents. of Iuch other Penon, or (il) ODe or more of the Trustees, orrlC8l'l, employees, or Icents
of the 4M FUDd, iDcSividually or joiDtly with or affiliated with, lucb CODtnct, let or tl'lDsaction,
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Drovided that Ci) such interest or affiliation is disclosed to the Trustees lUId the Trustees authorize
luch contract. act or other transaction by a vote of a majority of the unaffiliated Trustees. or (ii)
luch interest or affiliation is disclosed to the Participants, and such contract. act or transaction is
approved by a majority of the Participants.
Cc) Any Trustee or officer. employee. or agent of the .eM Fund may. in his
penonal capacity, or in a capacity as trustee, officer, director, Itockholder, partner, member.
agent, adviser or employee of any Penon, bave business interests lUId engage in business activities
in addition to those relating to the 4M Fund, which interests lUId activities may be similar to those
of the 4M Fund and include the acquisition, syndication, bold in a, manaaement, operation or
disposition of securities, investments and funds. for bis own account or for the account of such
Person. Each Trustee, officer. employee lUId agent of the 4M Fund shall be free of any obligation
to present to the 4M FUDd any investment opportunity which comes to him in lUIy capacity other
than solely as Trustee. officer. employee or agent of the 4M Fund, even if' such opportunity is of a
character which. if' presented to the 4M FUDd. could be taken by the 4M FUDd.
Cd) Subject to the provisions of Article OJ bereof. lUIy Trustee or officer. employee
or agent of the 4M Fund may be interested as trustee, officer, director, Itockholder. panner,
member, agent, adviser or employee of. or otherwise bave a direct or indirect interest in, any
Penon who may be enaaged to render advice or services to the 4M FUDd, and may receive compen-
sation from such Penon as weD as compensation as Trustee, officer. employee or alent of the Fund
or otherwise bereunder. None of the activities and interests referred to in this paragraph (d) shall
be deemed to conflict with his duties and powen as Trustee, officer. employee or agent of the 4M
Fund.
Ce) To the extent that any other provision of this Declaration of Trust connicts
with, or is otherwise contrary to the provisions of. this Section 2.14. the provisiollS of this Section
2..4 sbII1 be deemed conlrolliDl.
CO Notwithstandina tbe fonaoina provisions of this Section 2.14, the Trustees shall
aot bave the power to enlale in .1UIy transaction with lUIy Affiliate that would' be inconsistent with
the Laws of the State of Minnesota concerning connicts of iDterest, including, but not limited to.
Minnesota Statutes, Sections 471.17 and 471.18, or any other Law limitinl the Participants' power to
enter into such transaction, and the By-Laws of the 4M Fund may contain provisions more restric-
tive than those set forth in this Section 2..4.
2.15 Investment Prolram. lbe Trustees lball use their best efforts to obtain through
the Adviser or other qualified Pencns a continuing lUId suitable iDvestment Prolr&m, consistent
with the iDvestment policies and objectives of the 4M Fund set forth iD Article IV of this Declara-
tion of Trust. and the Trustees Ihall be responsible (or reviewiilg and approvina or rejecting the
investment proaram presented by the Adviser or such other Penons. Subject to the provisions of
Section 2.7 and Section 3.1 hereof, the Trustees may delelate functions arisina under this Section
2.15 to one or more of their aumber or to the Adviser.
2.16 Power to Contract ADooint. Retain and Emnlov.
Ca) Subject to the provisions of Sectio.n 2.7 and Section 3.1 hereof with respect to
delegation of authority by the Trustees, the Trustees shall bave full and complete power to appoint,
employ, retain, or contract with lUIy Penon or suitable qualifications and JUah repute (including one
or more of themselves and any corporation, pannenhip, trust or other entity of which one or more
f them may be an Affiliate, lubject to the applicable requirements of Section 2.14 hereof) as the
Trustees may deem necessary, or desirable for the transaction of the affain of the 4M Fund,
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includina aDY Penon or Penons who, under the SupervISion of the Trustees, may, &monl other
thinas: (i) serve as the 4M Fund's investment adviser and consultant in connection with policy
decisions made by the Trustees; (ii) serve as the 4M Fund's administrator or co-administrators; (iii)
furnish reports to the Trustees and provide research, economic aDd statistical data in connection
with the 4M Fund's iDvestments; (iv) act as consultants, accountants, technical advisen, ahorneys,
brokers, underwriten, corporate fiduciaries. escrow alents, depositaries, custodians or .,enls for
col1ection. iDsuren or iDsuraDce alents, reaistran for Shares or in any other capacity deemed by
the Trustees to be necessary or desirable; (v) investiaate, select, aDd, on behalf of the 4M Fund,
conduct relations with Penons actina iD such capacities and pay appropriate fees to, and enter into
appropriate contracts with, or employ, or retain services performed or to be performed by. any of
them in connection with the investments acquired, sold, or otherwise disposed of, or committed,
neaotiated, or contemplated to be acquired, sold or otherwise disposed of; (vi) substitute any other
Person for any such Penon, (vii) act as anomey-in-fact of Ilent iD the purchase or sale or other
disposition of investments, aDd in the handlina. prosecutinl or other enforcement of any lien or
security securinl iDvestments; aDd (viii) assist in the performance of such ministerial functions
necessary iD the manaaement of the 4M Fund as may be aareed upon with the Trustees.
(b) The manner of employina, enlaging, compensating, tnnsferrhla. or discharging
any Penon as an employee of the 4M Fund shall be subject to Minnesota Law. For plUJIOSes of
the preeedina sentence, -employee of the 4M Fund" shall not include independent contncton such
IS the Adviser, the Administrator, the Custodian, counselor iDdependent accountants and their
respective employees.
2.17 Insurance. De Trustees shall have fuU and complete power to purchase and pa}'
for, entirely out of .eM Fund Property, insurance policies insurina the .eM Fund and the Trustees,
fficen, employees and aaents of the .eM Fund individually laainst all claims and liabilities of every
nature arisina by reason of holdinl or bavina held any such office or position, or by reason of an}'
action a1leaed to bave been taken or omitted by the 4M Fund or any tuch Penon IS Trustee,
officer. employee and laent, iDcludina any Iction taken or omitted that may be determined to
. constitute nealiaence. whether or not the 4M Fund would have the power to indemnify I1Ich Penon
qaiost such liability.
2.11 kal. De Trustees shall have full and complete power to adopt and use I seal for
the .eM Fund, but, unless otherwise required by the Trustees. it shall not be aecessary for the seal
to be pllced on, and its absence sball not impair the validity of, any document, instrument or other
peper eucuted and delivered by or on behalf' of the 4M Fund.
2.19 IDdemnificatjpn. In addition to the mandatory indemnification provided for in
Section 5.3 bereof, the Trustees thall bave fuU and complete power, to the utent permined by
applicable Laws, to iDdemnify or enter iDto IIRemenlS with respect to indemnification with Iny
Penon with whom the 4M Fund hIS dulinls, includinl, without limitation, the Adviser, the
Administrator, and the Custodian, to such elttent as the Trustees shall determine.
2.20 Bemeclj~s. Notwithstandina any provision in this Declaration Of Trust, when the
Trustees deem that there is I sianifieant risk that an o~liaor to the 4M Fund may default or is in
default UDder the terms of any obliaation to the 4M FUlld, the Trustees shall have full Ind
complete power to punue any remedies permined by Law which, hi their sole Judament, are ill the
interests of 'the 4M Fund, and the Trustees aball have full and complete power to enter into any
investment, commitment or obliaation of the 4M Fund resultina from the punuit of such remedies
IS are necessary or desiBble to dispose of property acquired in the punub 01 tuch remedies.
2.21 Information Statement. The Trustees thallhlve full IDd complete power to
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prepare, publish aDd distribute aD Information Statement reaardiDa. the 4M Fund aDd to amend or
.upplement the same from time to time.
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2.22 further Powers. Tbe Trustees shall have rull aDd complete power to take all such
actions. do all .uch matters aDd thin as aDd execute all such instruments as they deem Decessary,
proper r desirable ill order to carry out, promote or advuce the uuerests ud purposes of the 4M
Fund a1thoulh such actions, matters or thinls are Dot herein specifically mentioned. Any determin-
ation as to what is ill the best interests of the 4M Fund made by the Trustees in lood faith shall
be conclusive. Ia constrainl the provisions of this Declaration or Trust, tile presumption shall be
in ravor of a lrant of power to the Trustees. The Trustees shall Dot be required to obtain any
court order to deal with the 4M Fund Property.
2.23 Comoliance with Laws. The Trustees shall at all times .sercise atl powers lranted
hereuDder ill compliuce with, ud the operations of the 4M Fund shall at all times be conducted in
accorclaDce with, the applicable Laws of the State of Minnesota.
2.24 Xn or Aid or Revenue AnticiDation Borrowinl!. Notwithstandina the provisions of
SectiOD 2.10 or 4.2 or uy other provision of this Declaration, the Trustees shall have lull and
complete power 10 borrow money or incur indebtedness as a part of a prOlram of tax or aid or
revenue anticipation borrowinl by Participant Municipalities. Tbey .hall have the power to issue
such oblilations OD behalf of the Participants, coordinate the issVlDce of such Obligations by the
Participuts, to become members of joiDt powers 'Dtities authorized 10 issue or coordinate the
wuuce of such obligations, or to .nter uuo CODtracts or agreements of uy uture authorized by
law related to the issVlDce of luch oblilations. The assets of tile .eM Fund itself lhall Dot be
pledged by the Trustees to the repayment of uy portion of luch borrowina and uy obliaations
issued lhall Dot constitute a debt of the .eM Fed, shall Dot be payable from or be a charae upon
uy assets of the 4M Fed, lhalI not live rise to uy pecuDiary liability of the .eM Fund, and shall
Dot be .nforceable a,ainst uy property of the .eM Fund, other than amouDts received Irom
participatina Municipalities inn coDnection with that uticipatiOD borrowina proaram which are
pledaed to the repayment of the borrowina or obliaations. The Trustees shall bave such powers as
Decessary to conduct or participate ill luch anticipation borrowina prOlraJDS as approved by the
Trustees, iIlcludina a proaram of iIlvestmeDt of obliaation proceeds.
ARTICLE m
Technical Advisorv Board. Investment Adviser. Administrator. and Custodian
3.1 ,6oDOintment. The Trustees are responsible for JIle lenera! investment policy ud
program of the .eM Fund ud for the lenera! lupervision ud administration of the business ud
affairs of the .eM FUDd conducted by the officers, aaents, employees, investment advisers, adminis-
trators, or iIldependent contractors of the 4M Fund. The Trustees are DOt required personally to
conduct atl of the routine business of the .eM Fund ud, consistent with their ultimate
responsibility as ltated berein. the Trustees may appoint, employ or contract with u Adviser as an
investment adviser to the Trustees, u Administrator as u administrator tor the .eM Fund and a
Custodian may lrant or deleaate luch authority to the Adviser and the Administrator (pUrsulDt to
the terms of Section 2.16 hereof) or to uy other Person the services of wbom are obtained by the
Adviser or the Administrator, as the Trustees may, in their IOle disc:retioD. deem to be necessary or
desirable, for the efficient management of the .eM Fund, without reaard 10 whether IUch authority
is Dormally lranted or deleaated by trustees or other fiduciaries. The Trwtees may appoiDt one or
more persons to serve joiDtly as Co-Advisers ud one or more persona to serve jointly as Co-
Administ!'ltors. lbe same penoD may serve simultaneously as the AdmiDiatrator and as the Adviser,
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but no person servina IS the Administrator or IS the Adviser may serve IS the CustodillD. Piper
Capital Manasement, IDc., a .ubsidiary of Piper Jaffray, IDc., a corporation oraanized IlDd existing
under the Laws of the State of Delaware, is appointed as the initial Administrator and Adviser for
the 4M Fund. Marquette Bank Minneapolis is appointed as the initial Custodian for the 4M Fund.
The Trustees lhall appoint a Technical Advisory Board to assist the Trustees iD the development of
policies and the overseeinl and reviewins of the activities of the 4M Fund. The Technical
Advisory Board Ihall be made up of luch iDdividuals as the Trustees deem advantageous to the
Fund. The composition of the Technical Advisory Board may be chIlD sed from time to time in the
discretion of the Trustees.
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3.2 puties of the Adviser. The duties of the Adviser lhall be those let forth in the
Investment Advisory Alreement to be entered iDto between the 4M Fund and the Adviser. Such
duties may be modified by the Trustees, from time to time, by the amendment of the IDvestment
Advisory Alreement. Subject to Article IV hereof, the Trustees may authorize the Adviser to effect
purchases, ales, or eltchanses of 4M Fund Property on behalf of the Trustees or may authorize any
officer, employee, alent or Trustee to effect luch purchases, ales, or exchanges punuaDt to
recommendations of the Adviser, all without further action by the Trustees. Any and all of such
purchases, sales, and exchanges shall be deemed to be authorized by all the Trustees. The Invest-
ment Advisory Aareement may authorize the Adviser to employ other persons to assist it iD the
performance of its duties. The IDvestmeDt Advisory Alreement lhall provide that it may be
terminated at any time without cause and without the payment of any penalty by the 4M Fund on
sixty (60) days wriuen Dotice to the Adviser.
~. 3.3 puties of the Administrator. The duties of the AdmiDistrator shall be those set
forth iD the Administration Alreement to be entered iDto between the 4M Fund and the Adminis-
trator. Sllcb duties may be modified by the Trustees, (rom time to time, by the amendment of the
Administration Alreement. The Administration Agreement may authorize the Administrator to
employ other penoDS to usist it iD the performance of its duties. The Administration Agreement
.hall provide that it may be terminated at any time without cause and without the payment of aD)'
penalty by the 4M Fund on sixty (60) days written notice to the Administrator.
3.4 puties of Custodian. The duties and qualifications of the Custodian lhall be those
set forth in Article 11 herein.
3.5 Successon. In the event that, at any time, the position of Adviser, Administrator,
or Custodian .hall become Y&CI.Dt for any reason, the Trustees may appoint, emplOY or contract
with a successor Adviser, AdmiDistrator, or Custodian. A predecessor shall usist and cooperate
with the 4M Fund iD the .mooth and orderly transition iD the event a successor Adviser,
Administrator, or Custodian is appointed for any reason.
AllTICLE IV
Invt!stmf!nts
4.1 Statement of Investment Policv and Obiective. Subject to the prohibitions and
restrictions. contained iD Section 4.2 hereof, the leneraJ iDvestment policy and objective of the
Trustees shall be to provide to the Participants of the 4M Fund the IUlhest possible investment
yield, while maintainins liquidity and preservinl capital by iDvestinl iD Permitted IDvestments in
accordan'ce with applicable provisions of Law, as may be set forth more fully iD the 4M Fund's
Information Statement, IS the same may be amended from time to time.
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4.2 Restrictions Fundamental to the 4M Fund. Notwithstanding anything in this
Declaration of Trust which may be deemed to authorize the contrary, the 4M Fund:
(i) May Dot make any investment other than investments authorized by the provi-
lions of Law applicable to the iIIvestment of funds by the Participants, as the same may be
amended from time to time;
(ii) May Dot purchase any Permitted Investment which hu a maturity date more
than one year from the date of the 4M Fund's purchase thereof, unless subject, at the time of such
purchase by the 4M Fund, to an irrevocable agreement OD the part of a Responsible Person to
purchase luch Permitted InvestmeDt from the 4M Fund withiD one (I) year;
(iii) May Dot purchase aDY Permitted Investment if the effect of luch purchase by
the 4M Fund would be to make the average dollar weiahted maturity of the .eM FUDd's iDvestment
portfolio areater than ninety (90) days, Drovided, however, that in makiD, such determiDation any
Permitted Investment which is subject to an irrevocable aareemeDt of the uture referred to iD the
preceding clause (ii) shall be deemed to mature OD the day on which the .eM FUDd is obliaated to
sell such Permitted Investment back to a Responsible PenOD or the day OD which the .eM FUDd may
exercise its riahts UDder luch agreemeDt to require the purchase of luch Permitted Investment by a
Responsible Penon;
(iv) May Dot borrow mODey or incur indebtedDess except to facilitate as a tempor-
ary measure:
(a) withdrawal requests which miSht otherwise require unscheduled dispositioDs
of portfolio investments;
(b) for a period Dot to exceed ODe business day, withdrawal requests peDding
receipt of collected fUDds from iIIvestmeDts sold OD the date of the withdrawal requests or with-
drawal requests (rom Participants who have Dotified the 4M FUDd of their intention to deposit
(uDds ill their accounts on the date of the withdrawal requests; or
(c) for a period not to exceed one busiDess day, the purchase of Permitted
Investments peDdina receipt of collected fUDds from ParticipaDts who have Dotified the 4M Fund of
their illtention to deposit funds ill their accounts on the date of the purchase of the Permitted
Investments;
(v) May DOt make loaDs, provided that the 4M Fund may make Permitted Invest-
ments;
(vi) May Dot hold or provide for the custody of any .eM Fund Property in a manner
Dot authorized by Law or by any institution or Penon not authorized by Law;
(vii) Except as permitted by SeCtiOD 2.2(b)(ii) hereof, may Dot purchase securities or
Ihares of iIIvestment companies or any entities similar to the 4M Fund; and
(viii) May DOt pledae assets except to secure indebtedness permitted by (iv) of this
Section 4.2; bowever in the case of indebtedness secured UDder Section 4.2(iv)(b) or (c) hereof, it
may pledge assets oDly to the extent of the actual funds in the account or . participant on whose
behalf. the permitted iDdebtedDess was incurred plus an amouDt equal to dlat amouDt which that
Participant hu Dotified the 4M Fund that it inteDds to deposit in its account On that date.
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For the purposes of this Section 4.2. the phrase "Responsible Person- shall mean a
person with which the 4M Fund is authorized to enter buo aareemenu pursuant to Section
2.2(b)(vii) hereof.
~.3 t\mendment of Restrictions. The restrictions set forth Ia Section 4.2 hereof are
fundamental to the operation aDd activities of the 4M Fund aDd may DOt be cWled without the
affirmative vote of . majority of the Participants entitled to vote. except that such restrictions
may be cHnaed by the Trustees 10 as to malte them more restrictive whea Decessary to conform
the iIIvestmeat proaram aDd activities of the 4M Fuad to the Laws of the State of Minnesota and
the United States of America as they may from time to time be amended.
ARTICLE V
,. .. fL' b'I'
,..Imltations 0 II J It v
5.1 J..iability to Third Persons. No Participant shall be subject to aDY penonal liability
whatsoever. Ia tort. contract or otherwise to aDY other Penon or Penons ill connection with 4M
Fund Property or the affairs of the 4M Fund; and no Trustee. orricer. employee or aaeat (including,
without limitation. the Adviser. the Administrator aDd the Custodian) of the 4M Fund shall be
subject to aDY personal liability whatsoever in tort. contract or otherwise. to aDY other Person or
Persons in connection with 4M Fund Property or the affairs of the 4M Fund. except that each shall
be penonally liable for his bad faith, willful misconduct. .ross Dealiaence or reckless clisreaard of
his duties or for his failure to act in .ood faith in the reasonable belief that his action was ill the
best interests of the 4M Fund aDd except that the Investment Advisory Alreement aDd the Admin-
istration Alreement shall provide for the personal liability of the Adviser or the Administrator. as
the case may be, for its willful or Dealiaent failure to take reasonable measures to restrict
investments of 4M Fod Property to those permitted by Law aDd this Declaration of Trust.
5.2 Liability to the 4M Fund or to the ParticiDanu. No Trustee, orricer, employee or
aaent (iIIcludilla. without limitation. the Adviser, the Administrator aDd the Custodian) of the 4M
Fund shall be liable to the ~M Fund or to aDY Participant. Trustee, orcicer. employee or asent
(includilla, without limitation, the Adviser. the Administrator aDd the Custod.iaD) of the 4M Fund
for aDy action or failure to act (iIIcludilla, without limitatioa. the failure to compel ill aDY way any
former or actiaa Trustee to ndress aDY breach of trust) except for his own bad faith, willful
misfeasance. aross Dealiaeace or reckless disreaard of his duties aDd 8llcept that the Investment
Advisory Alreement aDd the Administratioa Alreemeat shall provide for the penoaaJ liability of the
Adviser or the AdmiDistrator. II the case may be, for its willful or Dealiaent failure to take
reasonable measures to restrict lavestments of 4M Fuad Property to those permitted by Law and
this Declaratioa of Trust; Drovided. however, that the provisions of this Section 5..2 shall Dot limit
the liability of aDY ..eat. (illcludilla. without Iimitatioa, the Adviser. the Administrator IDd the
Custodian) of the 4M Fuad with respect to breaches by it of a coatract between it IDd the 4M
Fund.
5.3 Indemnification.
(a) De 4M Fuad shall IademDify aDd hold each Participant banDless from and
aaaiast all claims aDd liabilities, whether they proceed to judameat or are _ttJed or otherwise
broulht to a conclusioa, to which such Participant may become subject by reasoa of its being or
uvinl been a Participant, aDd shall reimbune such Participant for all Iepl aDd other expenses
reasonably iIIcurred by it in connection with IDY such claim or liability. De riahts accruing to a
Participant uader this Sectioa 5.3 shall Dot exclude aDy other riaht to which luch Participant may
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be lawfully eDtitled. Dor Ihall aDything herein contained restrict the riaht of the 4M Fund to
iIldemnify or reimbune I Participant ill any appropriate situation even though not specifically
provided berein.
(b) The 4M Fund sblll iDdemnify each of iu Trustees aDd officen. and employees
and laenu (includina. without limitation. the Adviser. the Administrator aDd the Custodian)
designated by the Board of Trustees to receive such iDdemnification. ..ainst all liabilities and
expenses (iDcludinS. without limitation. amounu paid in satisfaction of judamenu. in compromise or
as fiDes aDd peDalties. aDd counsel fees) reasonably incurred by him in collDection with the defense
or disposition of aDY action. suit or other proceeding by the 4M Fund or aDy other Penon, whether
civil or crimiDal. in which be may be involved or with which he may be threatened, while in office
or thereafter. by reason of IUs being or baviDg been such I Trustee. officer. employee or Igent
(iDcluding. without liDUtation. the Adviser. the Administrator aDd the Custodian). except as to any
matter as to which be acted in bad faith or with willful misfeasance or reckless disregard of his
duties or Iross Deg1isence or. in the case of the Adviser. Administrator. or the Custodian in willful
or Desligent violation of the restrictions on investmenu of the 4M Fund Property; Ilrovided.
however, that the provisions of this Section 5.3 shall not be construed to permit the
indemnification of aDY Igent (includina, without limitation. the Adviser. the Administrator aDd the
Custodian) of the 4M Fund with respect to breaches by it of I contract between it aDd the 4M
Fund.; aDd Curther Ilrovided, however, that IS to aDY matter disposed of by I compromise payment
by such Trustee. officer, employee or Igent. punuant to I consent decree or otherwise, no
indemnification either Cor said payment or Cor aDY other expenses shall be provided unless the 4M
FUND SHALL HA VE RECEIVED A WRITTEN OPINION FROM INDEPENDENT COUNSEL APPROVED
BY THE Trustees 10 the effect that if the Coregoing matten bad been adjudicated. the defenses
that could bave been presented on behalf oC luch Trustee. officer. employee or Ilent were meritor-
ious. The righu accruiDS to aDY Trustee. officer. employee or Igent (including. without limitation,
,the Adviser, the Administrator and the Custodian) under the provisionsoC this paragraph (b) of this
Section 5.3 sball not exclude any other riaht to which he may be lawfully entitled.; Ilrovided.
lJowever, that DO Trustee. ofncer. employee or Igent may ..tisfy uy right of iDdemnity or
reimbursement lranted berein or to which he may be otherwise entitled except out of the 4M Fund
Property, ud DO Participant aba1I be personally liable to any Person with respect to aDY claim Cor
iDdemnity or reimbursement or otherwise. The Trustees may make Idvaace paymenU in connection
with iDdemnification under this paragraph (b) of this Section 5.3. provided that the indemnified
Trustee. officer. employee or Ilent (iDcluding. without limitation. the Adviser. the Administrator
ud the Custodian) IbaIl bave liven I written undertaking to reimburse the 4M Fund in the event
that it is aubsequently determined that be is not entitled to luch indemnification.
(c) Any action taken by, or conduct on the part of, the Adviser, the Administra-
tor, I Trustee, an officer, u employee or u laent (iDcluding. without limitation. the Adviser. the
Administntor and the Custodian) of the 4M Fund in conformity with, or in lood faith reliance
upon. the provisions of Section 2.14 or Section 5.7 bereof lhall DOt, tor the purpose of this
Declaration of Trust (iDcluding, without limitation. Sections 5.1 ud 5.2 and this Section 5.3)
constitute bid Caith. willful misfeasance. lross Delligence or reckless disreprd of IUs duties.
5.4 Sure" Bonds. No Trustee shall. IS auch, be oblisated to live any bond or surety or
other security Cor the performance of aDY of his duties.
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S.S ~l)l)arent Authoritv. No purchaser. seller. transfer IleDt or other Penon dealing
with the Trustees or any officer, employee or ..ent of the 4M Fund ahaD be bound to make any
inquiry CODcerning the Yalidity of uy tnDSIction purporting to be made by the Trustees or by
such officer, employee or ..ent or malte inquiry concerning or be liable Cor the IPplication of
money or property paid, trlDSCerred or delivered to or on the order or ,~e Trustees or of such
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officer, employee or alent.
5.6 R.ecitals. Any written instrument creatinl an oblilation of the 4M Fund shall be
conclusively taken to bave been executed by a Trustee or an officer, employee or aaent of the 4M
Fund only in his capacity as a Trustee under this Declaration of Trust or in his capacity as an
officer, employee or alent of the 4M Fund. Any written instrument creatinl an Obligation of the
<1M Fund shall refer to this Declaration of Trust and contain a recital to the effect that the
bligations thereunder are Dot personally bindinl upon, Dor shall resort be had to the property of,
any of the Trustees, Participants, officers, employees or aaents of the 4M Fund, and that only the
<1M Fund Property or a specific portion thereof shall be bound, and such written instrument ma)'
contain any further similar recital which may be deemed appropriate; orovided. however, that the
omission of aDY recital pursuant to this Section 5.6 shall not operate to impose personal liability on
aDY of the Trustees, Participants, officers, employees or alents of the <1M Fund.
5.7 R.eliance on EXDerts. Etc. Each Trustee aDd each officer of the 4M Fund shall, in
the performance of his duties, be fully and completely justified and protected with regard to any
act or any failure to act resultinl from reliance in load faith upon the books of account or other
records of the 4M Fund, upon an opinion of counselor upon reports made to the 4M Fund by any
of its officers or employees or by the Adviser, the Administrator, the Custodian. accouDtants,
appraisers or other experts or consultants selected with reasonable care by the Trustees or officers
f the 4M Fund.
5.1 Liabilitv Insurance. The Trustees shall maintain insurance for the protection of the
<1M Fund Property and the Trustees, Participants, officers, employees and acents (not iDcluding
Advisor, Administrator, or Custodian) of the 4M Fund iD such amount as the Trustees shall deem
adequate to cover aU foreSeeable tort and contract liability to the extent available at reasonable
ntes.
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5.9 No Waiver. Nothing iD this Declaration of Trust IhaII be construed as constituting
the waiver of any immunity from liability available to the .eM Fund or the Trustees, PartIcipants,
fficers, employees or alents of the 4M Fund pursuant to any applicable provision of Law.
AR.TlCLE VI
Inlerests of ParticiDants
6.1 General. The beneficial interest of the Participants hereunder in the .eM Fund
Property and the eanUnas thereon shall, for conveDience of "ference, be divided iDto $hares,
which shall be used as units to measure the proportionate allocation to the respective Participants
f the beneficial iDterest hereunder. The Dumber of Shares that may be used to measure and
represent the proportionate allocation of beneficial interest among the Participants is unlimited.
All Shares shall be of one class representinl equal distribution, liquidation and other riahts. The
beneficial interest hereunder measured by the Shares shall not entitle a Participant to preference,
preemptive, appraisal,conversion, or exchange rilhts of any kind with respect to the 4M Fund or
the .eM Fund Property. Title to the eM Fund Property of every description and the right to
conduct any affairs hereinbefore described are ..ted in the Trustees OIl bebalf and for the
benefici&1 interest, of the Participants, and the Participants shall have DO interest therein other
than the beneficial interest confemd bereby and measured by their Shares, and they IhaII bave no
rilht to call for any partition or division of any property, profits, nabts, or interests of the 4M
Fund Dor can they be called upon to ahare or assume any losses of the eM Fund or surfer ail
assessment or any kind by virtue or the allocation of Shares to them, except . provided in Section
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10.2 hereof.
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6.2 ~noC1ltion of Shares
ea) The Trustees shall credit a Participant with additional Shares upon receipt of
funds (iDCludiDS. without limitatioD. iDcome from the iIIvestment of .eM Fund Property) for the
account of such Participant. based on the Det asset Yalue per Share as determined pursuant to
Section 10.1 lIereof. III connectioD with uy allocatioD of Shares. the Trustees may allocate
fractional Shares. The Trustees may from time to time adjust the total number of Shares allocated
without thereby chanaina the proportionate beneficial interests ill the .eM Fund. Reductions or
iDcreases in the Dumber of allocated Shares may be made in order to maintain a constant Det asset
value per Share as set forth ill SectioD 10.2 hereof. Shares shall be allocated ud reduced in
Dumbers as whole Shares ud/or one hundredths (1/IOOths) of a Share or multiples thereof.
(b) Shares may be allocated only to a Municipality which has become a Participant
f the 4M Fund ill accordaDce with Sec:tiOD 1.2 hereof. Each Participant may establish more than
one account withill the 4M Fund for such Participant's convenience.
(c) The minimum amount of funds which may be placed ill the .eM Fund by a
Participant at UlY one time ahall be as determiDed by the Trustees from time to time. Unless
therwise determined by the Trustees pursuant to this paraaraph (c) of this Section 6.2. the
minimum amount of funds which may be placed ill the 4M Fund by a Participant at anyone time
sball be One Dollar (SI.OO).
6.3 Jvidence of Share Allocation. Evidence of Share allocation shall be renected in the
Share Resister maintained by or on behalf of the 4M Fund pursuant to Sec:tion 7.1 hereof. and the
.eM Fund shall Dot be required to issue certificates as evidence of Share allocation.
6.4 Jt.eduction in Number of Shares to Maintain Constant Net Asset Value. The Shares
of the 4M Fund shaD be subject to reduction ill Dumber pursuant to the procedure for reduction of
outstandilla Shares set forth ill Section 10.2 hereof ill order to maintain the constant Det asset
wue per Share.
6.S Withdrawals. Funds may be withdraWD from the .eM Fund at the option of a
Participant. upon ud subject to the terms and conditions provided ill this Declaration of Trust.
The .eM Fund Iball. upon application of uy ParticipaDt. promptly pay to lucb Participant the
amount requested ud sball reduce the Dumber of Shares allocated to ncb Participant to the
Dumber of Shares which lban renect tuch Participant's proportionate iIlterest iD the Det assets of
the 4M FUDd after nch withdrawal of fUDds. The procedures fot effeclina a withdrawal shall be as
adopted by the Trustees and as set fortb ill the Information Statement of the .eM Fund. as the
ame may be amended from time to time; Drovided, however. that tuch procedures shall not be
ttructured 10 as to substantially and materially restrict the ability of the Participants to withdraw
funds from the .eM Fund.
6.6 Jusoension of Rilht of Withdrawal' Postoonement of Pavment. Each Participant. by
its adoption of this Declaration of Trust. aarees that the Trustees may. without the Decessity of a
formal meetina of the Trustees. temporarily tuspend the riaht of withdrawal or postpone the date
of payment punuant to withdrawal requests for the whole or any part of any period (i) during
which there than have occumd any ltate of ....r. national emeraeney. IIlDkina moratorium or
SUSpensiOD of payments by banks in the State of Minnesota or any leneral auspension of trading or
limitation of prices OD the New York or American Stock Eltchanae (other thaD C1JStomary week-end
and h~liday closina) or (ll) duriDa which any financial emeraency tituation exists as a result of
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which disposal by the .eM Fund of .eM Fund Property is not reasonably practicable because of the
lubstantial losses which miaht be incurred or it is Dot reasonably practicable for the .eM Fund
fairly to determiDe the value of its Det assets. Such suspension or postponement shan Dot alter or
arfect a Participant's beneficial interest bereunder as measured by its Shares or the accrued
interest and earniDls thereoD. Such suspension or payment shall take effect at auch time as the
Trustees shan specify but Dot later than the close of business on the business day Dut following
the declaration of suspension. and thereafter there shan be DO rilht of withdrawal or payment until
the Trustees shall declare the suspension or postponement at an end, eltcept that the suspension or
postponement shan terminate in any event on the fint day on which the period specified in clause
(i) or (ii) above shall bave eltpired (as to which. the determination of the Trustees sha1\ be
conclusive). III the case of a suspension of the riaht of withdrawal or a postponement of payment
pursuant to withdrawal requests, a Participant may either (i) withdraw its request for withdrawal or
(ii) receive payment based on the Det lSSet value existinl after the termination of the suspension.
6.7 ~inimum Withdrawal. There shall be DO minimum amount which may be withdrawn
from the .eM Fund at anyone time at the option of a Participant; Drovided. however. that no
request by a Participant for the withdrawal of less than one donar (51.00) Deed be. honored.
6.1 );)efective Withdrawal Reouests. In the event that a Participant shan submit a
request for the withdrawal of a Ireater amount than is then credited to the account of such
ParticipaDt. such request shal1 DOt be honored, and each Participant. by its adoption of this
Declaration of Trust. qrees that the Trustees shall have fun and complete power to withdraw
funds from the account of a Participant. and to reduce proportionately the Dumber of Shares
allocated to such Participant in accordance with Section 6.S bereof. in an amount sufficient to
reimburse the .eM Fund for any fees. eltpenses, costs or penalties actually incurred by the .eM Fund
as a result of luch defective withdrawal request.
6.9 Al1OC1tion of Certain EltDenses. Each Participant will. at the discretion of the .eM
Fund, indemnify the 4M Fund aaainst all upenses and losses resullina from indebtedness incurred
n that Participant's behalf under Section .e.2(ivXb) or (c) hereof. Each Participant authorizes the
Trustees to reduce its Shares to the Dumber of Shares which renects that Participant'S proportion-
ate interest in the Det assets of the .eM Fund after allocation of those eltpenses and losses to it.
ARTICLE VII
Record of Shares
7.1 Share Rnister. The Share Reaister shan be kept by or OD behalf of the Trustees,
under the direction of the Trustees, and shan coDtain (i) the names and addresses of the Partici-
pants. (Ii) the Dumber of Shares representina their respective beneficial interests hereunder and (iii)
a record of all allocations and reductions thereof. Such Share Reaister 1ha11 be conclusive as to
the identity of the Participants to which the $bates are allocated. 00ly Participants whose
allocation. of Shares is recorded OD luch Share Reaister shal1 be entitled to receive distributions
with respect to Shares or otherwise to eltercise or eDjoy the riahts and beDefits related to the
beneficial iDterest hereunder represented by the Shares. No Participant aball be entitled to receive
any distribution. Dor to have Dotices liven to it as herein provided. util it has liven its IpprO-
priate address to such officer or laent of the Fund as shan keep the Share Reaister for entry
thereon.
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7.2 Ruistrlr. The Trustees lhall have full aDd complete power to employ a reaistrar.
Unless otherwise determined by the Trustees, the Share Reaister Ihall be kept by the Administrator
which Ihall aerve ,as the reaistrlr for. the 4M Fund. The reaistrar lhall record the oriainal
allocations of Shares iD the Share Reaister. Such reaistrlr Ihall perform the duties usually
performed by reaistrars of certificates aDd abares of Itock iD a corporation, except as such duties
may be modified by the Trustees.
7.3 Owner of Record. No Penon becomina entitled to aDY Shares ill consequence of the
meraer, reorganization, consolidation, baDkruptcy or iDsolvency of aDY Participant or otherwise. by
operation of Law, shall be recorded as the Participlnt to which such Shares are allocated aDd shall
only be entitled to receive for luch Shares the amount credited to the account of the Participant
whose beneficial iDterestiD the 4M Fud is represented by luch Shares. Until the Penon becoming
entitled to receive luch amount shall apply for the payment thereof aDd present any proof of such
entitlement as the Trustees may iD their sole discretion deem appropriate, the Participlnt of record
to which luch Shares are allocated Ihall be deemed to be the Participant to which luch Shares are
allocated for all purposes bereof, aDd neither the Trustees Dor the reaistrar Dor any officer or
agent of the 4M Fund IhalI be affected by aDY DOtice of luch meraer, noraaDization, consolidation,
bankruptcy, insolvency or other event.
7.4 ~o Trlnsfen of Shares. The beneficial interests measured by the Shares shall Dot
be transferrable, iD whole or in part, other than to the 4M Fund itself for purposes of effectuatina
. withdrawal of funds.
7.5 "imitation of Fiduciarv ResDonsibilitv. The Trustees lhall Dot, Dor Ihall the
Participants or any officer, reaistrar or other agent of the 4M FUDd, be boUDd to see to the
execution of any trust, express, implied or constructive, or of any charle, pledae or equity to
which any of the Shares or any interest therein are lubject, or to ascertain or inquire whether aDY
withdrawal of fuds by any ParticipaDt or its representatives is authorized by luch trust, charge,
pledge or, equity, or to, recoaDize aDY Penon as having any iDterest therein except the Participant
recorded as the Participant to which luch Shares are allocated. The receipt of the Participant in
whose name any Share is recorded or of the duly authorized agent of luch Participant Ihall be a
lufficient discharae for all mODeys payable or deliverable in respect of luch Shares and from all
liability to see to the proper application thereof.
7.6 Notices. Any and all Dotices to which ParticipaDts hereunder may'be entitled and
any and all communications lhall be deemed duly aerved or liven if mailed, postaae pre-paid.
addressed to Participants of record at their last known post office addresses as recorded on the
Share R.eaister provided for iD Section 7.1 hereof.
ARTICLE VIl1
Particirtants
1.1 VotinR. Each Participant lhall be entitled to one vote as . matter of riaht with
respect to the followiDa matters: (i) amendment of this Declaration of Trust or termination of the
'M Fund as provided in Section U and Section 13.) hereof; and (il) norpDization of the 4M Fund
as provided iD Section 13.2 laereof. It abaIl not be Decessary for any minimum Dumber of Shares to
be allocated to a Participant for the ParticipaDt to be entitled to vote. Participants lhall not be
entitled to cumulative votina with respect to aDY matter.
:
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1.2 RiRht to Initiate a Vote of the ParticiDllnts. The ParticiplJlts shall, by aD mstru-
ment or concurrent instruments in writinl delivered to the Board of Trustees silned by at least ten
percent (10%) of the ParticiplJlts, have the dlht to initiate a vote of the Participants as to aDY
matter described ill clause (I) or clause (ii) of Section 1.1 hereof. Withill twenty (20) days of
receipt of luch instrument or instruments, the Board of Trustees shall cause a ballot to be sent to
each Participant, senina forth the matter to be voted on and the IIlUDer ill which such ballots
should be esecuted and delivered.
1.3 Insoection of Records. The records of the "M Fund shall be open to inspection at
all reasoDable times pursUlJlt to Minnesota Statutes, Chapter 13.
I." JdeetinRs of ParticiDants.
(a) MeetiDas of the ParticipaJlts may be called at any time by a majority of the
Trustees and IhaD be called by any Trustee upon written request of Dot less than teD percent (10%)
of the Participants, lucb request specifyinl the purpose or purposes (or which luch meetiDg is to
be called. Any luch meetinl shaD be beld within the State of Minnesota at such place, OD such
day and at luch time as the Trustees shall desilDate.
(b) A majority of the ParticiplJlts entitled to YOte at such meetinl present ill
person (iIlcludilll, if permitted by applicable Law, participation by conference telephone or similar
communications equipment by meaDS of which all 'enons pai'ticipatiDa in the meetinl caD hear each
other) or by proxy lhan constitute a quorum at any meetina of ParticiplJlts.
I.S tlotice of MeetinRs and Votes. Notice of all meetinas of the ParticiplJlts, ltating
the time, place and purposes of the meetinl. and notice of any vote without a meetinl, ltating the
purpose and method thereof shall be liven by the Trustees by mail to eacb ParticipaJlt at its
reldtered address, mailed at least ten (10) days and not more than thirty (30) days before the
meetinl or the day by which YOtes must be cast. Only the business stated in the notice of a
lIleetinl Ihall be considered at such meetiDl. Any adjounaed meetiDl may be held as adjourned
without (urther notice. Any aotice required by any .open meetiq-, -sunshine- or aimi1ar law,
whether DOW or hereafter ill effect, IhaD also be liven.
1.6 Record DIIte (or MeetiDIts and Votes. For the purposes or determiDiDl the Partici-
pants that are entitled to YOte or act at any meetiDl or any adjoW1UDent thereof, or who are
entitled to participate ill any YOle, or (or the purpose of any other action, the Trustees may (rom
time to time (Ix a date not more than thirty (30) days prior to the date or any lIleetiDl or YOte of
ParticipaJlts or other action as a record date (or the determination of ParticipaJlts entitled to YOte
at luch meetiDl or any adjoul1lJDent thereof or to cast a ballot ill such ~le or to be treated as
ParticiplJlts of record (or purposes of luch other action. Any Participant which was a Participant
at the time 10 (ixed shall be entitled to YOle at luch meetinl or any adjoW1UDent thereof, or to
cast a ballot ill luch vote, eVeD thouah it then bad DO Shares allocated to it or bas liDce that date
redeemed its Shares. No ParticlplJlt becomina luch after that date lhan be 10 entitled to vote at
luch meetina or any adjounament thereof or to cast a ballot ill such ~te or to be treated as a
Participant of record (or purposes or luch other actiOD.
1.7 Proxies. At any lIleetiDa of Participants, if permitted by 8PPUcable Law, any
Participant entitled to ~te thereat may YOte by proxy, provided that DO proxy Iball be voted at
any meetinl Bless it shall bave been placed OD me with the Secretary tI alae eM Fund, or with
luch other orricer or aaent of the "M Fund as the Secretary of the eM Fad may direct, (or
wriricatiOD prior to the time at which such ~te shall be taken. Pwnut to a resolution or a
majority or the Trustees, proxies lIlay be IOlicited in the name of one or more or the officers of
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the .eM FUDd. AU proxies lball be revocable at the option of the Participant.
1.1 Number of Votes. Only Participants of record lhall be entitied to vote and each
Participant Ihall be entitled to one vote without regard to the number of Shares allocated to it, if
any. A proxy purporting to be executed by or on behalf of a Participant lhall be deemed valid
unless challenaed at or prior to its exercise, and the burden of provina iIlvaJidity lhall rest on the
challenaer.
1.10 Reoorts. The Trustees Ihall cause to be prepared at least annually (i) a report of
operations CODtaiDina a ltatement of assets and liabilities and ltatements of operations and of
changes ill net assets of the .eM FUDd prepared in conformity with aeneraJly accepted accounting
principals and (Ii) an opinion of an independent certified public accountant OD luch financial
ItatemeDts based OD aD eumiDation of the books and records of the .eM Fund made ill accordance
with aenerally accepted auditing ltandards. A ligned copy of luch report and opinion Ihall be filed
with the Trustees within ninety (90) days after the close of the period covered thereby. Copies of
luch reports lhall be mailed to all Participants of record within a reasonable period preceding the
annual meetina or vote of the Participants. The Trustees lhall, ill addition, (umish to the Partici-
pants, at least quarterly, an iIlterim report coDtaiDinl an UDaudited balance sheet of the Fund as at
the eDd of such quarterly period and statements of operations and changes ill net assets for the
period from the beginDiDa of the then current fiscal year to the end of such quarterly period.
AR.TICLE IX
Trustees and Officen
'.1 Number and Oualification.
(a) The Board of Directon of the League of Minnesota Cities shall be the
lovemina body of the .eM FUDd and IhaD be the Board of Trustees. The by-laws and constitution
of the League of Minnesota Cities sball 10verD the operatioD and make-up of the Trustees and
Officen of the .eM FUDd.
(b) The Trustees, ill their capacity as Trustees, shall not be required to devote
their entire time to the business and afCairs oC the .eM FUDd.
(c) The Eltecutive Director of the Leaaue oC MinDesota Cities may be an U officio
DOD-VoliDa member DC the Board of Trustees.
,.2 Meetinls.
-
(a) Meetinas of the Trustees shall be held from time to time apoD the call of the
Chairman, the Vice Chairman, the Secretary or any two trustees. Relular meetings of the Trustees
may be held without call or Dotice at a time and place (ilted by the By-Laws or by resolution oC
the Trustees. Notice or any other meetina shall be mailed or otherwise liveD Dot less than 48
houn before the meetiDa but may be waived ill writiDI. by any Trustee either beCore or after luch
meetiDa. ADY Dotice required by any -open meeting-, "unshiDe- or similar Law, whether DOW or
hereafter ill effect, shall also be liven. The atteDdance of a Trustee at a meltinl sball constitute
a waiver or DOtice of .ach meetina elteept where a Trustee atteDds I meetin, for the express
purpose of objectiDa to the traDIICtiOD of any business OD the lround that the meeting has not
been lawfully called or conveDed. The Trustees may let with or, if perm.itted by applicable Law.
without I meeliDa. A quorum for all meetinas of the Trustees shall be I majority oC the Trustees.
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Subject to Section 2.14 hereof and unless .pecifically provided otherwise in this Declaration of
Trust, any action of the Trustees may be taken at a meeting by vote of a majority of the Trustees
present (a quorum being present) or, if permitted by applicable Law, without a meeting, by written
consents of a majority of the Trustees. Any agreement or other instrument or writing executed b)'
one or more of the Trustees or by any authorized Person .hall be valid and binding upon the
Trustees and upon the 4M Fund when authorized or ratified by action of the Trustees IS provided
in this Declaration of Trust.
.
(b) Any committee of the Trustees may act with or without a meeting. A quorum
Cor all meetings of any .uch committee .hall be a majority of the members thereof. Notice of such
meeting. including .uch Dotice IS may be required by an .open meeting....unshine. or similar Law,
shall be liven IS provided in Section 9.2(a). Unless otherwise .pecifically provided in this
Declaration of Trust, any action of any .uch committee may be taken at a meeting by vote of a
majority of the members present (a quorum being present) or, without a meeting, by ,,'ritten
conSent of a majority of the. members.
(c) With respect to actions of the Trustees and any committee thereof. Trustees
who are affiliated within the meaning of Section 2.J4 hereof or otherwise interested in any action
to be taken may be counted for quorum purposes under this Section 9.2 and .hall be entitled to
vote.
(d) All or anyone or more Trustees may, if permitted by applicable Law. partici-
pate in a meeting of the Trustees or any committee thereof by utilizing conference telephone or
similar communications equipment by means of which all persons participating in the meeting.
including members of the public. can hear each other and participate in a meeting pursuant to such
communications shall constitute presence in personal at such meeting. The minutes of any meeting
of Trustees held by utilizing such communications equipment shall be prepared in the lime manner
as those of a meeting of Trustees held in person.
93 Officers. The officers of the 4M Fund shall be the same as the officers of the League of
Minnesota Cities Board of Directors. The Executive Director of the League of Minnesota Cities
shall act as the secretary of the 4M Fund. The Trustees may elect or aproint such other officers
or agents who shall have such powers, duties, and responsibilities as the Trustees may deem to be
advisable' and appropriate.
9.4 Committees. The Trustees may elect from time to time from their OWD Dumber
committees consisting of one or more persons, the Dumber composing such committees and the
powers conferred upon the same to be determined by vote of the Trustees.
9.S ReDoru. The Trustees shall cause to be prepared at lelSt annually (i) a report of
operations cODtaining a statement of assets and liabilities and statements of operations and of
changes in net assets of the .eM Fund prepared in conformity with lenerally accepted accounting
principles and (ii) an opinion of an iIIdependent certified public accountant OD such financial
statements based on an examination of the books and records of the 4M Fund made in accordance
with generally accepted auditing standards. A signed copy of such report and opinion shall be filed
with the Trustees within Dinety (90) days after the close of the period covered thereby. Copies of
such reports shall be mailed to all Participants of record within a relSonable period preceding the
annual election of Trustees. The Trustees shall, in addition, furnish to the \participants, at least
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lUarterly, aD illterim report contaiDina an unaudited b;alaDce sheet of the 4M Fad as at the end of
Ncb quarterly period aDd statements of operatioDS If.:! chanaes iD net assets for the period Crom
the be.illJliDa of the then curreDt raac:al year to the eod or such quarterly period.
ARTICLE X
DetermiDltion of Net Asset Value and Net IDcome;
Distributions to ParticiDanu
10.1 Net Asset Value. Tbe net asset value of each allocated Share of the 4M FUDd sban
be determiDed ODce OD each business day at such time as the Trustees by resolution IDlY determine.
Tbe method of determiDiDa Det asset value shall be established by the Trustees and IIWI be set
forth ill the lDformatioD StatemeDt as the lime IDlY be amended from time to time. Tbe duty to
make the dally caJculatiODS may be deleaated by the Trustees to the Adviser, the AdmiDistrator, the
Custodiu or luCIa other PenoD as the Trustees by resolution may desi'Dlte.
10.2 CoDStallt Net Anet Value' Iteduetioll or Allocated Sbares.
(a) Tbe Tl'1IItees lhalI "ve fuD and complete power to determiDe the llet iDcom~
(illcludiDa' urealized piDS ad losses OD the portfolio assets) or the 4M fund nee OD each
busiDess day as provided ill SectiOD 10.1 Ilereof and, UpoD each luch determiDatioD such aet illcome
...n be credited proportioDltely to the accoats of the Participants iD neh a lIWIJIer,aDd with the
result. that the Det uset value per Share of the 4M fUDd lhalI remaiD It a COnslUt dollar value.
Tbe IlCCOUDtiDl lDethod tiled for the determiDatioD of the aet iDcome or the 4M fUDd ad the
cre4itiDa thereof proportionately to the respective accoUDts of the Participuts shaJJ be cletermiDed
by the Trustees ad aha11 be .t forth iD the 1Df0rmation Statement as the lalDe IDlY be amended
from time to time. Tbe duty to lDIke the dally caJcu1atioDS IDlY be delepted by the Trustees to
the Adviser, the AdmiD.i.stntor, the Custodian or sucb other PenoD as the Trustees by resolution
..ay desianate. Fluctuations iD value will be renected iD the aumber of Shares aIJocated to each
Participant. 'If there is a att Iou. the Trustees lhalI rUlt offset ncb amoUDt qaiDst iDcome
accrued to each Participut. To the eatent that such a aet loa uceeds nch accnaed iDc:ome, the
Trustees. ahall reduce the ..areaate aumber of the 4M fUDd's allocated Shares iD an UtOUDt equal
to the amouDt required iD order to permit the Det uset value per Share of the 4M fllDd to be
maiDtained at a constaDt doUar ftJue by "viDa eacla Participant coDtribute to the 4M fad its m
IISl portiOD of .ucla aumber of Shares. Eacb Participant will be deemed to have qreed to such
reduCtiOD iD ncla cin:umstaDces by its iDvestment ..ill the CMFUDd IDd its adOptioD or this
Declaration or Trust. The pll1"pole or the foreaoml procedure II to permit the Det _t Yalue per
IIwe of the 4M fUDd to be IDIiDtaiDed at . COnslUt doUar Yalue per Share.
(b) The Tl'1IIleeI may diacoDtiDue or ameDd the practice f1l IttemptiD. to maiDtaiD
the Det asset Yalue per Share at a CODSlUt dollar amoUDt at any time ad sucla lDodUacaUon sball
be evideDced by appropriate chaD,es iD the lDformatioD StatemeDt as the ame may be ameDded
from time to time.
10.3 SUDDlementarv Distributions to ParticiDlllltl. III additioD to withdrawals IDIde It the
request of iIldividual Participants punuut to SectioD 6.5 ltereof, the Tr.tees IDlY from time to
time also declare IDd make to tile Participants, ill proportion to tIleir .-peetive allocation of
Shares. out of the earD.iDas. profits or _ts ill tile bods of the TnaalNl, aucla IUpplemeDtary
distributions and the detel'1ll.iDatiOD of eaniDas, profits, and other fUDda IIDd _ts available for
IUpplemeD~ distributions aDd other purpotes aha1l lie wlloDy iD the dilo..,.6.u or the Trustees and
IDly be made at sucb time ad in sucll lIIIDDer as the Trustees may ill ..ir IOle discretion from
time to time determine. ADY or all nch npplementary distributions .y be mde amona the
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Participants of record at the time of declaring a distribution or amonl the Participants of record at
luch other clate u the Trustees Ihall determine.
10.4 Retained Reserves. The Trustees may rewn from the Iross iDcome of the 4M Fund
luch amount u they may deem necessary to pay the debts aDd expeases of the 4M FuDd ad to
meet other oblilations of the 4M Fund, aDd the Trustees Ihall also bave the power to establish
luch reasonable reserves u they believe may be required.
ARTICLE XI
Custodian
-.
II.J Duties. The Trustees Ihan emplo)' a bank or trust compaD)' orlaniled ader the
Laws of the United States of America or the State of Minnesota baving aD office iD the State or
Minnesota aDd bavin. a capital aDd lurplus auregatinl at least twenty-five million dollars
(525,000,000) u CustodiaD with authority u its I.ent, but subject to such restrictions. limitations
aDd other requirements, if aDY, u may be conwned iD the By-Laws of the 4M Fund to perform the
duties set forth iD the CustodiaD Alreement 10 be entered iDto between the 4M FuDd and the
Custodian, or u may be imposed by Law.
11.2 ADDOintment. The Trustees shall bave the power 10 select and appoint the Custo-
dian for the 4M Fund. The CustodiaD Alreement sball provide thlt it may be terminated at any
lime without cause aDd without the payment of any penalty by the 4M FUDd on lixty (60) clays'
wrinen DOtiU 10 the CustodiaD.
11.3 Custodian ARreement. ID addition to containiDl such other provisions u the
Trustees may deem appropriate, the Custodian Alreement shall provide that all mvestments
constitutiDl 4M fUDd Property shall be held iD lIIekeepinl iD the manner required by Law,
iDcludinl, without limitation, Mionesota Statutes, Section 475.66, Subdivision 2.
II." ARent! of Custodian. The Trustees may also autborile the CustodiaD 10 employ one
or more qents from time to time to perform such of the acts aDd services of the Custodian and
.pon luch terms and conditions, u may be alreed upon between the CustocSiaD and such alent and
approved by the Trustees; Drovided, however, that, iD every case, such qent IhaU be . bank or
crust company oralnized UDder the Laws of the United States or America or one of the States
thereof baviDl capital and lurplus qlreptiDa at leut twenty-five million doUars ($25,000,000).
11.5 Successon. In the event that, at any time, the CustodiaD shall naian or lhall be
terminated punuant 10 the provisions of the Custodian Aareement. the Trustees IhaU appoint I
successor thereto.
11.6 ~ustodian as DeDOSitOrv For ParticiDants. Each Participant hereby desilnates the
Custodian u a depository for fUDds of the ParticiPaDL
ARTICLE XlI
Jt.ec:ordin. fir ~el.ration or Tnl!t
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12.1 ~ecordinR. This Declaration of Trust and any amendment hereto shall be filed,
recorded or looSed as a document of public record iD such place or places and with such official or
officials as may be required by Law or as the Trustees may deem desirable. Each amendment so
filed, recorded or Jodaed ,hall be accompanied by a certificate ,ianed and acbowledaed by a
Trustee statina that such action was duly taken iD the manner provided for herein; and unless such
amendment or such certificate sets forth IOme earlier or later time for the effectiveness of such
amendment, luch amendment shall be effective upon its fmna. An amended Declaration of Trust.
containing or restating the original Declaration and all amendments theretofore made, may be
executed any time or from time to time by I majority of the Trustees Ind shall. upon fmng.
recording or IOOgiDg iD the manner contemplated bereby, be conclusive evidence of all Imendments
contained therein and may thereafter be referred to in lieu of the oriainal Declaration of Trust and
the various Imendments thereto. Notwithstanding the foregoina provisions of this Section 12.1, no
fmns or recordation pursuant to the terms of this Section 12.1 Ihall be I condition precedent to
the effectiveness of this Declaration of Trust or any amendment bereto.
ARnCLE XIn
Amendment or Termination of 4M Fund;
Duration of Fund
13.1 Amendment or Termination.
(I) The provisions of this Declaration of Trust may be amended or altered (except
as to the limitations on personal liability of the Participants and Trustees and the prohibition of
assessments upon Participants), or the .eM Fund may be terminated, It any meeting of the
Participants or PUrsUUlt to any wte of the Participants called for lbat purpose, by the affirmative
wte of . majority of the Participants entitled to \lote, or if permitted applicable Llw, by In
iDstrument or iDStruments iD writina, without a meetina, lianed by I majority of the Trustees and a
majority of the Participants; Drovided, however, that the Trustees may, from time to time by a
,two-thirds wte of the Trustees, and after fifteen (IS) days' prior written Dotice to the
Participants, amend or alter the provisions of this Declaration of Trust, without the vote or usent
of the Participants, amend or alter the provisions of this Declaration of Trust, without the \lote or
assent of the Participants, to the extent deemed by the Trustees iD .ood faith to be Decessary to
conform this Declaration to the requirements of applicable Laws or reaulations or any iDterpretation
thereof by I court or other .overnmental laency or competent Jurisdiction, but the Trustees lhall
Dot be liable for CaiUn, to do 10. Notwithstandin, the fore,oiDa, (i) DO amendment may be made
pursuant to this Section 13.1 which would chanae any ri,hts with respect to any allocated Shares
of the 4M Fund by nducina the amount payable thereon upon liquidation of the 4M Fund or which
would diminish or eliminate any wtina ri,hts of the Participants, eKeept with the \lote or written
consent of two-thirds of the Participants entitled to wte thereon; and (ii) DO amendment may be
made which would cause any of the iDvestment restrictions contained iD Section 4.2 hereof to be
less restrictive without the affirmative wte of . majority of the Participants entitled to \lote
thereon.
up its affairs;
(b) Upon the termination of the 4M Fund pursuant to this Section 13.1:
(j) The 4M Fund shall carry on no business except Cor the purpose of winding
(ii) The Trustees lhall proceed to wind up the affairs or the .eM Fund and all
of the pelwers of the Trustees under this Declaration of Trust Iball continue utiJ the artairs of
the 4M Fund Ihall bave been wound up, iDcludina, without limitation, the power to fulfill or
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discbarae the contracts or the 4M Fund, collect its assets, MlI, convey, asian. ellchlJlae. transfer
or otherwise dispose or all or any part of the remainina 4M Fund Property to one or more persons
at public or private laIe for consideration whicb may consist ill whole or ill part of cash. Mcurities
or the property of any kind, discbarle or pay its liabilities, and do all other acts appropriate to
liquidate its affairs; Drovided, however, that any position of all or lubstut1a1ly all of the 4M Fund
Property Ihan require approval of the principal terms of the transaction aDd the uture and amount
f the consideration by affirmative vote of Dot less than a majority of the Participants elltilled to
vote thereon; aneS
(Hi) After payinl or aeSequately providinl for the payment of all liabilities.
aneS upon receipt of such releases, iIldemnities and refundinl alreements, IS they deem Decessary
for their protection, the Trustees may distribute the remaininl 4M Fund Property, ill cash or in
kind or partly ill each, monl the Participants accordilll to their respective proportioute allocation
f Shares.
(c) Upon termination of the 4MFund and distribution to the Participants IS herein
provided, a majority of the Trustees shall necute and lodle amonl the recorcSs of the 4M Fund an
iDstrument ill writiDl lettinl forth the fact of such termination, and the Trustees shan thereupon
be discharled from all further liabilities and duties hereunder, and the riPt, title and iDterest of
all Participants shall cease and be cancelled and discharleeS.
(d) A certification ill recordable form lilned by a majority of the Trustees letting
forth an amendment and recitiDl that it was duly adopted by the Participants or by the Trustees as
aforesaid or a copy of the Declaration, IS amended, in recordable form, and neeuted by a majority
f the Trustees, sball be conclusive evidence of such amendment.
13.2 Power to Erfect ReoruniZltion. If permitted by applicable Law, the Trustees, by
vote or written approval of a majority of the Trustees, may select, or direct the orlanization of, a
corporation, association, trust or other Person with which the 4M FUDeS may merle, or which shall
1ake over the 4M Fund Property and carry on the affairs of the 4M Fad, and after nceivillg an
affirmative vote of Dot less than a majority of the Participants entitled to vote at any meeting of
the Participants, the Dotice for which iIlcludes a statement of such propelled action, the Trustees
may effect such merler or may sell, CODYey and transfer the 4M Fund Property to any such
corporation, association, trust or other Person ill ncwle for cash or shares or aeaarities thereor,
or beneficial interest thereill with the assumption by such transferee of the liabilities of the 4M
Fund; and thereupon the Trustees shan termiute the 4M Fund and deliver such cash, Ibares,
securities or beneficial interest ratably amonl the participants of this 4M Fad.
13.3 Duration. The 4M Fund shall continue ill existeDce in perpetuity, subject in all
mpects to the provisioDS of the Article XUI.
ARTICLE XIV
Miscellaneous
14.1 Goveminl Law. This Declaration of Trust is eucuted by the IDitial Participants
and delivered in the State of MiIlnesota and with referente to the Laws thereof, and the rilhts of
all parties and the validity, coDStrUction and effect of every provision IIIreof aball be subject to
and construed accordinl to the Laws of aid State of Minnesota.
'14.2 J::ountemarts. This Declaration or Trust may be executed iD .veral counterparts,
each of ~hich when 10 necuted shall be deemed to be an orilinal, and ncIa counterparts, t.oaether,
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.ball constitute but ODe ad the lalDe instrumeDt. wbich .hall be .u.tficieDtly evidenced by aDy such
rigiual cOUDterpan.
.".3 Reliance bv Third Parties. Any certificate executed by a iIldividual who. according
10 the records f the "M Fund. or of ay official or public body or office ill wbich this
DeclaratioD of Trust may be recorded. appears to be a Trustee hereUDder or the Secretary or the
Treasurer of the "M FUDd. certifying to: (i) the Dumber or identity of Trustee. or Participants; (ii)
the due authorizatioD of the execution of aDY instrument or writing; (ill) the rorm oC aDy vote
passed at a meeting oC Trustees or Participants or taken pursuant to I YOte of Participants; (iv)
the fact that the Dumber oC Trustee. or Participants present at any meeting or executing any
written instrument lltisfies the requirements oC this Declaration oC Trust; (v) the rorm oC aDy By-
Law adopted by or the ideDtity oC ay officers elected by the Trustees; or (vi) the existence oC any
ract or racts which ill ay manner relate to the affairs oC the "M Fund. .hall be conclusive
evidence as to the matters 10 certified ill ravor of ay Person dealing with the Trustees or any oC
them or the "M Fund and the successors of .ucb Person.
.
...... Provisions in Connict with Law. The provisions of this Declaration oC Trust are
leverable. ad if the Trustees .hall determine. with the advice oC counsel. that ay one of more of
.uch provisioDS (the -COnflicting Provisions-) are ill connict with applicable federal or MinDesota
Laws. the CoDniCtiDg Provisions .hall be deemed Dever to have constituted a part oC this
Declaration of Trust; orovided, however, that .uch determination by the Trustees .hallnot afCect or
impair ay of the remaining provisions oC this Declaration oC Trust or render iIlvalid or improper
ay action laken or omitted (iIlcludina. but nOI limited to. the election oC Trustees) prior to .uch
determinatioD.
....s Gender: Section Headinl.s.
. (a) Words of the masculine lender .hall mean ad iIlclude comlative words oC the
feminine ad Deuter lenders and words impartiaa the .ingular number .halI meaD and iIlcludethe
plural number ad vice versa.
(b) Any headings preceding the texts oC the several Articles and Sections oC this
Declaration or Trust and ay table oC contents or marainal Dotes appended to copies bereoC. .hall
be solely ror coDveDience oC reCereDces ad .hall neither constitute a part or this DeclaratioD of
Trust Dor affect its meanlDa. construction or erCect.
.".6 AdoDtion bv MuniciDalities Electinl. to Become Additional ParticiDanu' Resil.nation of
Partiei"ants.
(a) Any Municipality meetina the requirements or Section 1.2 bereof. may become
an additional ParticipaDt of this 4M Fund by (i) takina any appropriate orricialaction to adopt this
Declaration of Trust, (ii) fumishinl the Trustees with lltisCactory evidence that auch official action
bas been takeD, ad (Iii) if requested by the Trustees, providinl the Trustees with a opinion oC
counsel to the eCfect that auch party desirina to become a Participant or the 4M Fund is a
Municipality as deCined berein. A copy or this Declaration or Trust mlY be adopted by executing a
written instrument of adoption ill auch rorm as may be prescribed by lbe Trustees. Delivering an
acknowledaed copy or luch instrument Ihall constitute IItisCactory evidence oC the adoption
contemplated by this Section .4.6.
(b) Any Participant may mian and withdraw from the "M Fund by sending a
written DOtice to auch eCfect to the Chairman oC the 4M Fund ad the Administrator and by
requestina the withdrawal of all funds then credited to its account within the 4M Fund. The
32
o
'0
. .
o
written Dotice sball be in the form of a certified resolution of the Municipality Board or Council of
the Participant, alatina the Municipality Board or Council's intention to resiln from the 4M Fund.
Such resisaatioa aDd withdrawal shall become effective upon the receipt thereof by the Chairman of
the 4M fuad aDd the Admiaistrator. No raisnation and withdrawal by a Participaat shall operate
to aDaul this Declaratioa of Trust or termiaate the ewtence of the 4M FUDd.
IN WITNESS WHEREOF, the uadenilned Municipalities of the Slate of Minnesota. acting
in the capacity of Initial Participaats of the Minaesoll Municipal Money Market Fund IDd pursuant
to the authority Il"IDted by the Joint Powers Act, have executed this Declaration of Trust as of
the day of .19.as of wbich date this Declaration of TruslShall take.
aDd come uno, full force aDd .frect.
By
Its
aDd
Its
By
Its
aDd
Its
By
Its
aDd
Its
33
CITY OF ANDOVER
COUNTY OF ANOKA
STATE OF MINNESOTA
MINNESOTA MUNICIPAL MONEY MARKET FUND ("THE 4M FUND")
RES. NO.
o
A RESOLUTION AUTHORIZING ENTRY INTO A JOINT POWERS AGREEMENT IN THE
FORM OF A DECLARATION OF TRUST ESTABLISHING AN ENTITY KNOWN AS
"MINNESOTA MUNICIPAL MONEY MARKET FUND" 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 Intitial Partieipants
thereof; and
WHEREAS, the Declaration of trust has been presented to this
council and
WHEREAS, the Declaration of Trust authorizes 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
munieipality to adopt and enter into the Deelaration of Trust and
beeome a participant of the Fund for the purpose of the joint
investment of this municipality's monies with those of other
municipalities 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:
o
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,
which is adopted by reference herein with the same 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
whieh this Resolution was adopted. The Mayor and City Clerk of this
Council are hereby authorized to take sueh actions and execute any
and all such documents as they may deem neeessary and appropriate to
effectuate the entry of this municipality into the Declaration of
Trust and the adoption thereof by this munieipality.
o
sectJ.on~. ThiS municipality is hereby authorized to invest its
available monies from time to time and to withdraw such monies from
time to time in accordance with the provisions of the Declaration of
Trust. The following officers and officials of the municipality and
their respective successors in office each hereby are designated as
"Authorized Officials" with full powers and authority to effectuate
the investment and withdrawal of monies of this municipality from
,time to time in accordance with the Declaration of Trust and pursuant
to the Fixed-Rate Investment Service available to Participants of the
Fund: of the officer(s) authorized to invest monies in and from the
Fund Fixed-Rate Investment Service.
Shirley Clinton - Treasurer
James E. Schrantz - Deputy Treasurer
Jerry Windschitl - Mayor
Ken Orttel - Acting Mayor
The Clerk shall advise the Fund of any changes in Authorized
Officials in accordance with procedures established by the Fund.
Section 3. The Trustees of the Fund are hereby designated as
having official custody of this municipality's monies which are
invested in accordance with the Deelaration of Trust.
Section 4. Authorization is hereby given for members of the
Board of Directors of the League of Minnesota Cities to serve as
Trustees of the Fund pursuant to the provisions of the Declaration of
Trust.
Section 5. State banks, national banks, and thrift institutions
located either within or without the State of Minnesota which qualify
as depositories under Minnesota law and are included on a list
approved and maintained for such purpose by the Investment Advisor of
the Fund are hereby designated as depositories of this municipality
pursuant to Minnesota Statutes Section 118.005 and monies of this
municipality may be deposited therein, from time to time in the
discretion of the Authorized Officials, pursuant to the Fixed-Rate
Investment Service available to Partieipants of the fund.
It is certified that Andover duly adopted the Resolution at a
duly convened meeting of the council held on the 17th day of
November, 1987, and that such Resolution is in full force and effect
on this date, and that such Resolution has not been modified,
amended, or rescinded since its adoption.
CITY OF ANDOVER
o
ATTEST:
Jerry Windschitl - Mayor
Victoria Volk - City Clerk
o
CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE
November 24, 1987
AGENDA SECTION ORIGINATING DEPARTMENT APPrJ~OR
NO. 8 Building Department _~ AGE A
ITEM l
City Hall Addition BV:David Almgren ~
NO. Sprinkling Bvll
U
Information will be available at the City Council Meeting.
COUNCIL ACTION
MOTION BY SECOND BY
C TO
o
CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE November 24. 1987
AGENDA SECTION
NO. 9
ORIGINATING DEPARTMENT
Engineering
ITEM Crosstown Drainage Plan/
NO. 87-3B
BY:
James E. Schrantz
The City Council is requested to approve Crosstown Drainage Plan
87-3B. (some information is available from the meeting of
October 6, 1987) John Rodeberg will be at the meeting to discuss
this item.
COUNCIL ACTION
MOTION BY
TO
SECOND BY
o
CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
AGENDA SECTION
NO. 10
DATE November 24. 1987
ORIGINATING DEPARTMENT
Engineering
BY: James E. Schrantz
/
ITEM
NO.
Contract Change Orders/
87-3B. 87-10. 87-7
BY:
The City COuncil is requested to approve the contract change
order for 87-3B, 87-10, and 87-7. John Rodeberg or John
Davidson will be at the meeting to discuss this item.
COUNCIL ACTION
MOTION BY
TO
SECOND BY
o
CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE November 24, 1987
Administration
FOR
AGENDA SECTION
NO. 11
ITEM
NO. Approval of Minutes
ORIGINATING DEPARTMENT
BY: Vicki Volk
The City Council is requested to approve the following minutes:
September 15, 1987 Regular Meeting
September IS, 1987 HRA Meeting
September 17, 1987 Assessment Hearing
September 22, 1987 Special Meeting ( Knight absent)
September 29, 1987 Special Meeting
October 6, 1987 Regular Meeting
October 13, 1987 Special Meeting
October 20, 1987 Regular Meeting (Orttel absent)
October 20, 1987 Special Closed Meeting (Orttel
absent)
November 3, 1987 Regular Meeting
November 3, 1987 HRA Meeting
November 5, 1987 Special Meeting (Apel, Knight absenti
COUNCIL ACTION
MOTION BY
TO
SECOND BY
CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE November 24, 1987
AGENDA SECTION
NO. 8
ORIGINATING DEPARTMENT
Building Department
ITEM City Hall Addition
NO.
Sprinkling
BY: David Almgren
~~~~~~OR
BY: tu
As per letter from Olsen Fire Protection Incorporated the es 'imated
cosu of $5,000.00 to sprinkLe the addition. With the biggest cost
being the control valves, backflow prevention and such. To sprinkle
the entire building may only cost around $10,000.00.
Does the City Council wish to proceed at this time and get bids
for the total building or wait until the city water is available
and do it then.
COUNCIL ACTION
MOTION BY
TO
SECOND BY
OLSEN FIRE PROTECTION INCORPORATED
r.~. ~~x JH ~~H~, MINNt~~lA nnJD~
1~11l4L4-Jl11
N.ovember 19, 1987
DAVE ALMGREN
1685 CROSSTOWN BOULEVARD
ANDOVER, MN 55304
Attention: Mr. Dave Almgren
Regarding: Andover City Hall, Addition Sprinkler System
Gentlemen:
As per your request, we are pleased t.o submit the foll.owing quotati.on f.or y.our
consideration.
Pr.ovide material and labor t.o: Install appr.oximately 14 sprinklers in the new
additi.on. This price is based .on many unanswered questi.ons.
We hereby propose t.o perf.orm the ab.ove defined w.ork for the total sum of FIVE
THOUSAND Dollars <$5,000.00 + .or -).
Trusting the above pr.op.osal will meet with y.our acceptance and approval, we
remain,
Very truly yours,
OLSEN FIRE PROTECTION, INCORPORATED
~~ A!?czZ-.--
Kevin R. Olsen
Vice President.
The above proposal is accepted on this
day of _______, 1987.
---------------------------------------------------------------------------
Signature
Ti tle
KRO/kc
CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE
November 24, 1987
ITEM
NO.
V. Erickson Water
Service
BY: David Almgren
JV
APPROVED FOR
AGENDA
AGENDA SECTION
NO. 3
ORIGINATING DEPARTMENT
Building Department
BY:
(11/24/87 11:30 A.M.)
At this time we should be able to get the Anoka County Community
Action Program to pay for the hookup ($2,100.00+) and the sac
and permit ($716.00) and the abandonment of the-shallow well
($150.00) for a total not to exceed $2,961.00.
COUNCIL ACTION
MOTION BY
TO
SECOND BY
DATE: November 24, 1987
ITEMS GIVEN TO THE CITY COUNCIL
Park and Recreation Commisssion Minutes 11-19-87
Letter Piper Capital Manaqement
Letter - Metropolitan Council
Bulletin - Association of Metropolitan Municipalities
PLEASE ADDRESS THESE ITEMS AT THIS MEETING OR PUT THEM ON THE NEXT
AGENDA.
THANK YOU.
P~-r !
c,~ '
l:.C!.
{(v! /ry
association of
metropolitan
municipalities
BULLETIN
Association of Metropolitan Municipalities
Proposed Policy Amendments for 1988
1. Attached are new and modified policy as proposed by the Policy
Committees and Board of Directors for 1988.
2. Policy adopted last year remains in effect for 1988, and is not
reprinted in this packet.
3. Current policies to be modified are repeated entirely with new
language underlined and language to be deleted dashed out.
4.
Policies without underlining are new except for
through IV-0-7 which are current but reprinted
the other changes made in policy IV-O.
policies IV-Q-3
as background for
5.
Policy D-1, TAX EXEMPT PROPERTY attached as
recommended by committee but removed from the
vote by the Board of Directors. The indicated
recommended but may be considered by the
requested at the meeting.
6. The AMM policy adoption meeting will be held Thursday, December 3
and will be a dinner meeting at Jax Cafe. Further details will be
mailed November 16.
the last page was
package on a close
change is not being
membership if so
183 UlliVClsity avcllue cast, st. paul, millnesota 55101 (612) 227.5(,00
I
MUNICIPAL REVENUES
I-A LEVY LIMITS
A-1 -~%-3% LEVY LIMIT REPEAL
The Association of Metropolitan Municipalities has consistently
opposed the levy limit laws in that they apply uniform statewide
restrictions to cities and are too inflexible to accommodate
inflation, uncertanties in state and federal financial aids, and
the diverse problems and circumstances faced by cities throughout
the state. Such laws are inconsistent with principles of local
self-government and accountabili ty. Nei ther do they recognize
changing local conditions as to either expenditure needs or
revenue sources. Levy limits may ultimately work against the
interests of local taxpayers because the law creates an incentive
for cities to take maximum advantage of the opportunity to make
general or special levies. For example, the arbitrary decision in
1981. to create a new levy limit base effectively penalized those
ci ties that were successful in holding down their property tax
levies in 1981. Th~!!! was done al(ain in 1987.!. History has now
provided cities with numerous lessons teaching that cities which
choose to levy less than the maximum allowed in a given year risk
being later tied to unrealistic or artifically low new limits for
future budget years. Therefore,
THE AMM REMAINS STRONGLY OPPOSED IN PRINCIPLE TO SUCH LIMITATIONS
AND RECOMMENDS THAT THE MINNESOTA LEGISLATURE REPEAL LEVY LIMIT
LAWS FOR CITIES.
A-2 LEVY LIMIT INDEX
The 1985 Legislature reversed the annual levy limit base increase
index from the greater of the Implicit Price Deflator or 5% to the
lessor of these. ~I1 J9~.I__!;hi~_._was ~_a.nged t~__:i%.~ For many years
ci ties argued that the levy base increase should not be a flat
percentage but be indexed to reflect cost of doing business. This
is especiallY true since labor costs are 60 to 65 percent of the
total municipal cost, yet because of the state PELRA laws control
of wages and wage increases often is determined by outside
arbitration. Also, during those years, of flat percent increase,
many adjustments and gimmicks were needed to keep up but since the
adoption of the Implicit Price Deflator as an index, this has not
been the case and property tax increases have been reasonable.
THE AMM URGES THE LEGISLATURE TO RESTORE' THE ANNUAL LEVY BASE
INCREASE TO THE IMPLICIT PRICE DEFLATOR, SINCE THIS IS THE
ONLY INDEX OF ACTUAL NEED. -6R~%- WHI~IWIffi'- IS -aREA-TSIr.
-1-
I-B LEVY LIMIT MODIFICATIONS
Although the AMM is strongly opposed to Levy Limitations as
currently legislated, the organization is aware that there is
significant legislative initiative to maintain the responsibility
for local property tax levels. However, local government must
continue and be allowed to provide for services that people demand
and that state and federal law require. Therefore, if repeal is
not adopted, the Association supports amendments to the present
levy limit law to provide further relief from current inequities.
B-1 REALISTIC LEVY BASE
The 1983 legislature restored the pre 1982 levy base formula of
local government aids plus levy limit on which annual growth is
calculated without regard to actual levy. This method provides
that cities may levy less than the limit without losing the
ability to regain the underlevy in future years. The legislature
also provided growth based on an index rather than a flat
percentage and growth increase for the greater of population or
households and some base growth for commercial and industrial
activity. All of these growth factors are necessary as a minimum
to allow cities the ability to at least stay even with service
provisions for the varying population needs.
THE AMM SUPPORTS CONTINUED USE OF THE CURRENT LEVY BASE ADJUSTMENT
FACTORS AS A MINIMUM FOR FUTURE LEVY YEARS IF THE LEGISLATURE
FINDS IT PHILOSOPHICALLY NECESSARY TO CONTINUE LEVY LIMITS FOR
CITIES ~fffi -soeo ..pOP-eL-A-T-I:-OH.
I-F GENERAL FISCAL IMPACT POLICIES
F-4 FUNDING SHIFTS (REPLACEMENT)
Minnesota's population and property market value are evenly
distributed between the seven-county area and outstate. For
example, in 1986 2,102,441 persons resided in the metropolitan
area compared with 2,111,572 non-metro. Payable 1986 market
property valuation is also comparable $62,131,241,000 metro vs.
$61,052,901,000 non-metro. Although per capita market valuation
is the same (1% difference), a high discrepancy exists in the
collection and redistribution of state tax dollars. This
disparity is especially noticeable in the amount of property taxes
the average metro home pays vs. average non-metro (1987 Citizens'
League Property Tax Survey--$1,021.71 m~tro vs. $460.04 non-metro;
metro cities above 2,500 population vs. 'non-metro cities above
10,000 population). Minnesota House of Representatives Research
Department annually prepares Major State Aids and Taxes: A
comparative Analysis. The latest 1986 update (based on 1985 data)
-2-
discloses 64 percent (2/3) of all major state tax is collected in
the metro area; yet, only 46 percent of government aid flows
back to the metro region. The trend will be more lopsided in the
future under new school aid and property tax aids approved by the
State Legislature. In addition, the Greater Minnesota Corporation
(used to fund primarily outs tate economic development projects)
received a windfall because of the state's current budget surplus;
and, as a result, will direct more money outstate. State tax and
aid policies may jeopardize the future economic growth of the
metro area to the detriment of the whole state:
STATISTICS COMPILED BY THE HOUSE RESEARCH DEPARTMENT SHOW THAT
64% OF THE STATE REVENUE IS RAISED IN THE METRO AREA WHILE ONLY
46% OF THE STATE AIDS AND CREDITS ARE ALLOCATED TO THE METRO AREA.
WHILE SOME IMBALANCE IS ACCEPTABLE AND UNDERSTANDABLE, THE AMM
REQUESTS THE LEGISLATURE TO OPENLY STUDY WHETHER THERE IS AN
IMBALANCE AND HOW THIS REDISTRIBUTION OF RESOURCES MAY EFFECT THE
ECONOMIC GROWTH AND VITALITY OF THE METRO AREA AND THUS THE ENTIRE
STATE.
F-5 OPPOSE SALES TAX FOR CITY PURCHASES
The 1987 legislature faced with a significant budget shortfall and
increased spending desires for education considered extending
sales tax to all local government purchases as a method to
increase state revenue. The final decision eliminated sales tax
for general purpose but did retain the 6% motor vehicle excise tax
for all city vehicles. Although this admittedly helps the state
coffers it does so by creating an additional local government
expendi ture that can only be paid for through the property tax
which is considered the most regressive of the three major tax
areas. In essence the state is i.mposing a property tax to fund
state services that properly should be funded by a more
progressive income tax. This is bad public policy and therefore:
THE AMM OPPOSES THE IMPOSITION OF SALES TAX ON GENERAL GOVERNMENT
PURCHASES. ADDITIONALLY, THE AMM REQUESTS THE LEGISLATURE TO
REPEAL THE 1987 LAW REQUIRING MOTOR VEHICLE EXCISE TAX FOR LOCAL
GOVERNMENT VEHICLE PURCHASES. BOTH OF THESE TAXES ARE IN REALITY
A STATE IMPOSED PROPERTY TAX TO FUND STATE PROGRAMS THAT SHOULD BE
PAID FOR BY MORE PROGRESSIVE TAX SOURCES.
F-6 STATE REVENUE STABILITY
The AMM urges adoption of fiscal and revenue policies that will
stabilize state revenues and thereby lead to more predictable
funding levels for local governments. Inevitably, the stability
of revenues flowing to local governments is dependent on the
stabili ty of revenues flowing to the state. A reserve should be
-3-
built up during years of economic prosperity and used only to
protect the state budget from unexpected economic downturns, not
for tax reductions or expendi ture ipcreases. Such a budget
reserve is neces.sary given the relatively volatile tax bases on
which the state currently relies (particularly the income and
sales tax) and the potential for error in revenue and economic
forecasting.
THE AMM SUPPORTS ESTABLISHMENT OF A PERMANENT BUDGET RESERVE EQUAL
TO A MINIMUM OF FIVE PERCENT OF TOTAL STATE OUTLAYS. AS SOON AS
POSSIBLE THE RESERVE SHOULD BE BUILT UP TO A MORE ADEQUATE LEVEL
IN EXCESS OF FIVE PERCENT OF OUTLAYS.
I-G FISCAL DISPARITIES
G~5 TIF DISTRICT FD CONTRIBUTION
Present Tax Ipcrement Finance (TIF)/Fiscal Disparity (FD) law
requires that a City or HRA make a one time election to make the
TIF district FD contribution from the district itself or from the
"ci ty as a whole". The vast majori ty of districts are created
with the City or HRA electing to make the FD contribution from the
City as a whole which increases the City's mill rate resulting in
an additional tax burden. If, by year two or three of the TIF
district, it is clear the district could make the FD contribution
and still meet debt service payment the City could reduce taxes if
theFD election could be reversed. For high tax cities this may
be preferable to an early retirement of the TIF District.
THE AMM URGES THE LEGISLATURE TO AMEND CURRENT TIF/FD LAW BY
ALLOWING A ONE TIME OPPORTUNITY FOR A CITY OR HRA WITH A FD
CONTRIBUTION FROM THE "CITY AS A WHOLE" TO PLACE THE FD
CONTRIBUTION BACK IN THE TIF DISTRICT.
-4-
II.
GENERAL LEGISLATION
II-L-2 POST - COLLEGE REQUIREMENTS
Current POST rules require at least a two year degree in law
enforcement to be eligible to become a peace officer. This is
somewhat restrictive in that it does not allow for College degreed
persons to make a career change without returning to school for
significant added course work. The current applicants tend to
lack maturity that may be desireable to blend in to police
departments.
THE AMM ENCOURAGES THE POST BOARD TO CONSIDER ALLOWING PERSONS
WITH COLLEGE DEGREES TO BECOME PEACE OFFICERS WITH SOME ADDITIONAL
LAW RELATED COURSE WORK THAT CAN BE ATTAINED THROUGH PRE
EMPLOYMENT PART-TIME EFFORT OR DURING THE FIRST YEAR OF FULL TIME
PEACE OFFICER EMPLOYMENT. THIS DOES NOT EFFECT THE SKILLS COURSE
REQUIREMENTS.
II-R STATE AGENCY RULE MAKING
Legislation is needed to assure that municipalities are informed
of proposed rules when they are initiated by State Agencies to
assure a more meaningful appraisal of their impact upon local
government.
State agencies now are required to only publish notice of proposed
rules in the State Register which is not in general circulation
and which is available to local governments only by subscription,
whereas, State law mandates that local governments publish notice
of a variety of activities in legal newspapers and mail notices to
potentially affected parties. State agencies are not required to
notify local governments when rules are proposed that have direct
impact upon and directly involve the local governments.
The current law also allows the agencies to decide that proposed
rules are "non-controversial" and thereby negate the requirements
for a Public Hearing. The decision that a proposed rule is
"non-controversial" may be overridden only if 25 persons file a
notice with the agency that a Public Hearing is desired.
The law requires agencies to make a finding as to the cost the
proposed rules would have for other units of government; this
process does not require the solicitation of input from the other
units of government, but, rather, is left to the agency itself. -
The cost threshold for "non-controversial" is an overall dollar
amount that does not consider that the cQst could be very
significant for some units.
THE AMM REQUESTS LEGISLATION THAT WOULD REQUIRE DIRECT
NOTIFICATION FOR PROPOSED AGENCY RULES IF THERE IS IMPACT OF ANY
FINANCIAL NATURE REGARDLESS OF THE AMOUNT. ALSO, THAT AGENCIES BE
REQUIRED TO ESTABLISH AN OPEN PROCESS TO SEEK INPUT FROM AFFECTED
GOVERNMENTAL AGENCIES PRIOR TO DECLARING A PROPOSED RULE
-5-
"NON-CONTROVERSIAL" THUS BYPAS5ING FORMAL PUBIC HEARING.
II-S GEESE PROLIFERATION
.
The Geese population has been growing significantly in the
Metropolitan Area over the past several years and without enhanced
control methods will continue at an accelerated rate. The geese
return to their birthplace annually to summer and reproduce. They
are becoming a health and safety hazard around area parks and
waterways. The DNR, some cities, and the University of Minnesota
have been, on a spot basis, involved in various control activities.
However, due to safety reasons and funding, these activities are
less than adequate.
THE AMM REQUESTS THE LEGISLATURE TO INITIATE AN INDEPTH STUDY
INVOLVING THE DNR AND U OF M TO DEVELOP A GEESE CONTROL PROGRAM
AND TO PROVIDE ADEQUATE FUNDING TO IMPLEMENT THAT CONTROL
PROGRAM.
II-T DATA PRACTICES - LIQUOR LICENSE
The definition of 'licensing agency' in Minn. State 13.41 is not
clear as to the inclusion of cities, therefore, it is unclear
whether all or part of the information on license issuance is
public. This can be a real problem when issuing liquor licenses,
since part of the data concerns sensitative business and personal
finances.
THE AMM ENCOURAGES THE LEGISLATURE TO CLARIFY THAT POLITICAL
SUBDIVISIONS OF THE STATE INCLUDING CITIES ARE LICENSING AGENCIES
IN MINN. STATUTES 13.41 AND THAT FINANCIAL DATA OF A PERSON OR
BUSINESS SUBMITTED IN CONJUNCTION WITH AN APPLICATION FOR A LIQUOR
LICENSE OR OBTAINED AS A RESULT OF AN INVESTIGATION OF THE
APPLICANT OR LICENSEE SHALL BE CLASSIFIED AS PRIVATE.
II-U CONCURRENT DETACHMENT AND ANNEXATION
The statute authorizing concurrent detachment and annexation was
modified in 1985 to allow petitions from landowners for detachment
from one ci ty and annexat ion to another. I f the recei v ing
community concurs, the Municipal Board may hold a hearing at which
time the petitioner must prove the case and the loosing city may
object or concur. The real question is, should a landowner have
the right to initiate the process since generally this will only
be done for economic gain and to circumvent existing comprehensive
plans and zoning. It is not enough to say that the process is
protected by statutory criteria because in most cases a strong
case can be made either way by a quick witted attorney. This law
change merely. provided opportunity for mischief.
THE AMM SUGGESTS THAT THE STATUTES AUTHORIZING CONCURRENT
-6-
DETACHMENT AND ANNEXATION BE REVIEWED TO DETERMINE THE
APPROPRIATENESS OF INDIVIDUALS PETITIONING THE MUNICIPAL BOARD TO
INITIATE THE PROCESS. AT A MINIMUM EITHER AFFECTED CITY SHOULD BE
GIVEN VETO POWER.
-7-
III
HOUSING AND ECONOMIC DEVELOPMENT
III-A. HOUSING
Affordable housing ls a metropolitan problem of
according to data compiled by the Metropolitan
Minnesota Housing Finance Agency. There are strong
under existing conditions, the need for housing for
segment will not be met.
major proportions
Council and the
indications that
the lower income
The Federal and State Governments appear to be reducing their
financial commitments for housing for low and moderate income persons
and this will intensify the housing shortage problem for those unable
to purchase or rent at market rates. Local units of government do not
have the financial capability to assume the shortfall in Federal and
State provided subsidies. The housing problem for persons unable to
afford market rate housing can only be solved if all levels of
government and the private sector work together and if each
contributes a fair share to the solution.
Each level of government should contribute to help solve the problem
and each level's contributions should be of the kind it is best suited
to make. The Federal and State Levels should continue to provide the
direct subsidies for low and moderate income persons. The Federal and
State Governments also have the responsibility to provide a tax
climate in which the private sector can produce rental units that are
affordable to low and moderate income households. The State should
also grant local units of government the authority and flexibility to
conduct the kind of housing programs that best meets their diverse
needs.
The Metropolitan Council should continue to place high priority on
housing planning for the Metropolitan Area and provide specific
guidance to the public and private sectors so that both can make
rational decisions relative to future housing needs. The council
should continue to be aggressive in seeking innovative ways to create
housing opportunities for low income persons.
Local units of Government also have a strong role to play. Land use
controls constitute a small portion of the total cost of housing but
local units should not set requirements which go beyond what is
necessary for the protection of health, safety and welfare. Local
units should also work with the private sector to make the best use of
existing tools (revenue bonds, tax increment financing, etc.) to
produce housing whiCh is more affordable.
Decision makers at all levels of government must
of their actions, policies, and decisions which
substantial impact on housing costs.
become more cognizant
have an indirect but
-8-
A-I. EXAMINE LOCAL REQUIREMENTS
Local requirements, if excessive, could increase the cost of
producing housing.
COMMUNITIES SHOULD EXAMINE THEIR LOCAL REQUIREMENTS (LAND USE
REGULATIONS, SUBDIVISION ORDINANCES, ETC.) TO ASSURE THAT THESE
REQUIREMENTS DO NOT GO BEYOND WHAT IS NECESSARY FOR THE PROTECTION
OF HEALTH, SAFETY, AND WELFARE, AND INHIBIT THE CONSTRUCTION OF
AFFORDABLE HOUSING. MODIFICATIONS SHOULD BE MADE WHEN
APPROPRIATE.
A-2. PRACTICES WHICH INCREASE HOUSING COSTS
Decision makers at various levels of government must become more
cognizant of actions they take which have an indirect but
substantial impact on housing costs. These actions in themselves
may be worthwhile and beneficial, but when implemented result in
increased housing costs. Examples of this type of action would
include such things as the sewer availability charge, restricted
growth policies, building and energy codes, environmental rules,
etc.
ALL LEVELS OF GOVERNMENT SHOULD EXAMINE THEIR PRACTICES AND
POLICIES TO DETERMINE POSSIBLE HIDDEN IMPACTS ON HOUSING COSTS OF
SAID PRACTICES AND POLICIES NOT DIRECTLY RELATED TO HOUSING.
CHANGES SHOULD BE MADE AS NECESSARY INCLUDING REINSTATEMENT OF
THE DEED AND MORTGAGE TRANSFER TAX EXEMPTION FOR PUBLIC AGENCIES.
A-3. MANDATORY STANDARDS AND ALTERNATIVE HOUSING
Mandatory, uniform standards for housing style, type and location
are not appropriate because of the great diversity among cities
and differences within cities relative to state of development,
topography, lot and dwelling sizes, the mix of housing values and
costs, and the level of municipal services which are provided.
Land use regulations is one of the tools city officials need to
prot ct the health, safety, welfare, and interests of the city's
residents.
THE LEGISLATURE SHOULD NOT PASS LEGISLATION WHICH SETS MANDATORY
ZONING AND SUBDIVISION STANDARDS OR WHICH REMOVES ADDITIONAL LAND
USE REGULATION AUTHORITY FROM LOCAL UNITS OF GOVERNMENT. CITIES
SHOULD RETAIN THE AUTHORITY TO REGULATE THE ,LOCATION, SIZE,
AMOUNT, AND TYPE OF HOUSING INCLUDING MANUFACTURED AND ACCESSORY
HOUSING, WITHIN THEIR BOUNDARIES.
-9-
A-4. FINANCING STATE AND REGIONAL HOUSING POLICIES
,
Property taxes provide the major revenue source for most cities in
the Metropolitan Area and the Minnesota Property Tax System is one
of the most complex systems in the nation. unfortunately, the
Legislature often times adds to the complexity of this system by
changing it to benefit certain persons as a means to implement or
finance social policy.
THE AMM OPPOSES THE USE OF THE PROPERTY TAX SYSTEM TO FINANCE OR
IMPLEMENT STATE OR REGIONAL HOUSING POLICIES OR GOALS. STATE
AND/OR REGIONAL HOUSING POLICIES AND GOALS SHOULD BE IMPLEMENTED
AND FINANCED BY NON-PROPERTY TAX SOURCES.
A-5. FEDERAL AND STATE HOUSING FUNDING
The Federal and State levels of government have a broader and more
diverse tax base than local units of government and should provide
the necessary funding to fulfill their housing policy commitm nts
to lqwer income persons.
FEDERAL AND STATE FUNDING FOR HOUSING SHOULD BE PROVIDED TO
IMPLEMENT THE HOUSING POLICIES OF THOSE LEVELS AND MATCH THE NEEDS
OF THOSE PERSONS REQUIRING ASSISTED HOUSING INCLUDING ASSISTANCE
FOR RENOVATING AND REHABILITATING SUBSTANDARD HOUSING UNITS.
ADDITIONALLY, THE STATE SHOULD ESTABLISH A STATE HOUSING TAX
CREDIT FOR THE PRODUCTION OF LOW INCOME HOUSING UNITS SIMILAR TO
THE FEDERAL 4 AND 9% HOUSING CREDITS. ALSO SINCE THERE IS A
LIKELY .LOSS OF MANY LOW INCOME HOUSING UNITS DUE TO THE 1986
FEDERAL TAX CODE CHANGES AND OWNERS OPT OUT OF FEDERAL SECTION 8
CONTRACTS AS A RESULT: THE LEGISLATURE SHOULD CONSIDER PROVIDING
INCENTIVES SO THAT THE OWNERS WILL NOT OPT OUT. THE AMM ALSO
ENCOURAGES THE LEGISLATURE TO EXPLORE OTHER FUNDING SOURCES. FOR
THE PRODUCTION OF LOW COST HOUSING AND TO DETERMINE IF THERE IS A
NEED TO MODIFY THE DATES FOR THE USE OF THE UNIFIED BOND POOL AND
THE PERCENTAGE OF USE FOR LOW INCOME HOUSING ACTIVITY.
A-6. AUTHORITY AND RESPONSIBILITY FOR LOCAL HOUSING PROGRAMS
There is a great diversity among the cities in the metropolitan
area. Some cities need more housing for low and moderate income
persons while other cities need more housing for middle and upper
income persons. cities should have the authority to promote
whichever kind of housing is within the public purpose and best
interest of the city. State and federal agencies should cooperate
with cities in developing workable programs to meet the diverse
needs of cities. cities need to have more control over the cost
of housing being developed if they are to meet the intent of the
Metropolitan Land Planning Act.
-10-
CITIES SHOULD BE GRANTED SUFFICIENT AUTHORITY AND FLEXIBILITY BY
THE LEGISLATURE TO CONDUCT HOUSING PROGRAMS THAT MEET THE
DIFFERING NEEDS OF DIVERSE CITIES AND THAT ENABLE CITIES TO COMPLY
WITH THE METROPOLITAN LAND PLANNING ACT WHICH DIRECTS CITIES TO
PROVIDE OPPORTUNITY FOR LOW AND MODERATE COST HOUSING. CITIES
SHOULD BE ALLOWED, TO REQUIRE LOWER COST HOUSING IN PROPOSED
DEVELOPMENTS AND TO REQUIRE THE DEDICATION OF LAND OR CASH FOR LOW
AND MODERATE INCOME HOUSING AS AN ALTERNATIVE TO THE REQUIRED
DEDICATION FOR PARKS. ALSO,
CITIES SHOULD HAVE THE AUTHORITY TO DEVELOP HOUSING FOR MIDDLE AND
UPPER INCOME PERSONS IF THAT IS NEEDED TO ACHIEVE A BALANCED
HOUSING STOCK.
THE AMM SUPPORTS LEGISLATIVE ACTION TO REMOVE THE 1989 SUNSET ON
THE INTEREST RATE REDUCTION PROGRAM AND TO REMOVE RESTRICTIONS ON
PAYBACK PROVISIONS. THE AMM ALSO BELIEVES THAT LOW INCOME HOUSING
PROJECTS RECEIVING LOCAL FINANCIAL ASSISTANCE SHOULD HAVE THE SAME
PROPERTY TAX ASSESSMENT RATES AS SIMILAR PROJECTS RECEIVING STATE
OR FEDERAL FINANCIAL SUPPORT. THE AMM ALSO SUPPORTS LEGISLATION
TO ALLOW PUBLIC AGENCIES TO INVEST REVENUE BOND PROCEEDS IN THE
SAME INSTRUMENTS THAT ARE ALLOWED FOR OTHER LOCAL GOVERNMENT
INVESTMENTS.
A-7. RENTAL HOUSING IN THE METROPOLITAN AREA
Rental housing plays an important role in the Twin cities housing
market. Approximately 35 percent of the housing units in the Twin
citi s region are rental units. Traditionally, rental units have
provided an affordable housing option for singles, young adults,
young married, students, the elderly, and low and moderate income
households. Rental housing units serve a market much more diverse
than that served by owner occupied units. Yet over the past
several years a number of problems have developed in the rental
market, including:
1. A reduction in the rate of new rental units being produced.
2. Lack of mobility for households to move from rental to
ownership status.
3. Conversion of rental units to condominiums and increased
operating costs.
.
4. The supply of existing rental units, which is predominately
efficiency and one bedroom units, does not adequately address
the needs of families seeking rental units.
-11-
ALL LEVELS OF GOVERNMENT SHOULD BECOME INVOLVED TO SUCCESSFULLY
ADDRESS THE PROBLEMS IN THE RENTAL HOUSING MARKET. IN PARTICULAR,
THE STATE AND FEDERAL GOVERNMENTS HAVE CRUCIAL ROLES IN PROVIDING AN
OVERALL INVESTMENT CLIMATE IN WHICH THE PRIVATE SECTOR CAN PRODUCE
AN ADEQUATE SUPPLY OF RENTAL UNITS. POSSIBLE ACTIONS INCLUDE:
MODIFYING FEDERAL AND STATE TAX POLICIES TO IMPROVE THE
PRODUCTION AND MAINTENANCE OF AFFORDABLE RENTAL HOUSING.
INCREASING THE LEVEL OF FUNDING ASSISTANCE AIMED AT GIVING LOW
AND MODERATE INCOME FAMILIES ACCESS TO DECENT HOUSING.
CONTINUING PROGRAMS WHICH USE TAX EXEMPT BONDING TO CREATE
BELOW MARKET RATE FUNDS FOR RENTAL HOUSING.
CONTINUING PROGRAMS WHICH ALLOW REHABILITATION AND
WEATHERIZATION PROGRAMS TO BE UTILIZED ON RENTAL UNITS.
GRANTING LOCAL UNITS MORE AUTHORITY TO REGULATE THE CONVERSION
OF RENTAL UNITS TO CONDOMINIUMS.
A-S. ASSESSMENT RATES FOR RENTAL PROPERTY
The Multi-housing association and other groups have been advocating
lower assessment rates for rental housing relative to the rates for
other types of property. A number of Legislators have also been
examining this matter with a particular focus on the difference in
rates between rental housing and owner occupied housing which
results in higher property taxes for rental housing. The AMM is
very concerned about the affordability Or rental housing for lower
income persons and does not oppose a thoughtful study of this issue.
THE AMM BELIEVES ANY LEGISLATIVE PROPOSAL WHICH WOULD REDUCE THE
TAXES FOR RENTAL PROPERTY RELATIVE TO OTHER CLASSES OF PROPERTY
SHOULD CONTAIN THE FOLLOWING CONCEPTS: A CLEAR DIRECT LINKAGE
BETWEEN THE REDUCTION OF TAXES AND THE AFFORDABILITY OF THE UNIT
WITH RESPECT TO NEW CONSTRUCTION; A CLEAR DIRECT LINKAGE TO LpWER
RENTS IF. APPLIED TO EXISTING HOUSING; FULL DISCLOSURE OF REVENUE
IMPLICATIONS FOR LOCAL UNITS OF GOVERNMENT.
-12~
III
HOUSING A~D ECONOMIC DEVELOPMENT
III-B ECONOMIC DEVELOPMENT
Cities have an interest in the maintenance of and appropriate
enhancements to the economic base of their respective communities.
It is the community's economic base which provides;
a.) The tax base and other sources from which the City
generates the revenue to support its operation;
b.) the employment of some or a substantial number of
residents and,
c.) the means by which the popUlOUS is housed.
All Metropolitan communities address economic development when its
translated to physical development through their local land use
regulations with the individual communities striving for "orderly
development". As a group however, Metropo~itan communities differ
as to development needs and view points, with each community's
needs subject to a number of variables.
A municipality's ability to both regulate and promote economic
development is based on authority established by other
organizations and regUlations. It is this ability that is of
general interest to all Metropolitan communities. The Association
of Metropolitan Municipalities is the principal policy action
group acting on behalf of its member cities. As sucn it is
appropriate that AMM present the pOlicy issues and concerns to
those organizations that set the rules.
Because of divergent economies, differing Deeds and diverging
vi ewpoi n ts between Metropol i tan Minnesota and Urea tel' l'1innesota
there is a need to ensure the means of economic development
available to AMM member cities are appropriate to their needs and
that economic development efforts of others are complementary to
and not at the expense of member cities. As noted economic
development for local governments is not just a matter of more tax
base for the community but entails tools to promote, regulate and
service the development. Promotional means include Housing and
Redevelopment Authorities, Economic Development Authorities, Port
Authorities, tax increment financing, revenue and general
obligation bonds, condemnation and the Star Ci ties Program.
Regulation includes its comprehensive planning and land use
functions. Servicing include water, sewer, streets and other
municipal services.
TRANSPORTATION AS A KEY ECONOMIC DEVELOPMENT ELEMENT
Transportation, not only streets and highway but mass transit,
rai~ and air are all key elements in the economic development
picture of a community.
-13-
While infrastructive issues such as water and sewer are to some
degree issues for one or two governmental entities, transportation
systems involves the entire gamet from the locaL municipality
through the federal government. Additionally it is more than just
an infrastructive issue. Concerns as to where highways were to be
planned was a significant issue raised in the formation of the
Metropolitan Council and a rationale for passing the Fiscal
Disparities Act in 1Y73.
The issue has come to the forefront in the last few years as major
highways and interstate links have aged, existing routes nave
volumes exceeding capacity and federal and state funding has not
kept pace with needs. This has been further highlighted by using
a previous nighway funding source the sales tax/MV~T to help
balance the State general fund. This tlas resulted in cuts and
delays in projects throughout the state. Wi th economically
depressed areas demanding more funding to improve their economic
attractiveness to businesses and economically successful areas
needing funding to keep pace with expansion, the issue of funding
could become very divisive between Metro and Greater Minnesota. A
balanced and an efficient, well maintained transportation system,
inCluding the before mentioned components; is a necessity so as
not to retard economic development.
BUSINESS FACTORS IN ECONOMIC DEVELOPMENT
While governmental entities can provide inducements, services and
infrastructure there are a number of other factors that influence
a business' economic development decisions. Factors SUCh as in
place resources and costs, human resources (availability that
matches the needs), regulations and attendent costs, governmental
costs such as taxes, services etc. While only some of these are
under tne control or influence of the governmental sector in the
state and therefore the mission of AMM, these entities should make
efforts to ensure that state and local governments are
competative.
GENERAL ISSUES IN ECONOMIC DEVELOPMENT
Apart from direct business factors other items influence
locational and expansional considerations inCluding "Quality of
Life" factors such as the educational systems, arts, theater and
professional sports teams. In addition governmental concerns
ralate to housing, environmental impacts and economic security
among others. Also the perceptions about the MetropOlitan and
outs tate areas whicn relate directly to the focus of economic
development activities and financed by the State. Some
perceptions need to be explored as to their accuracy as they may
negatively impact MetropOlitan communities.
-14-
a.) The perception that the HetropoLitan area is heavily
dependent on the commodities and markets of greater Minnesota and
as such it is appropriate that the Metropolitan area finance State
supported economic development toolS for Greater Hinnesota.
b.) The perception on the part of some pOLitical Leaders that the
net f low of state tax funds is from out-state Hinnesota to the
Metropolltan area and that there should be an equalization of such
fund flows.
c.) A perception by some leaders in the private sector that since
the State pays substantial portions of local governments costs
through state COLLected taxes that the State should therefore
exert greater control of local spending. (WhiLe somewhat true for
the funding of urban counties and schoOL districts a majority of
municipal funds'are locally raised.)
d.) The perception that municipalities generaLly in the state are
"bloated" with staff and that through stringent state measures and
governmental restructuring more efficient services and lower taxes
can be achieved.
THE AMM, AS THE PRINICIPAL POLICY ACTION GROUP FOR METROPOLITAN
AREA CITIES, PLEDGES ITS BEST EFFORTS TO:
1. PRESERVE EXISTING TOOLS OF ECONOMIC DEVELOPMENT AND LAND USE
CONTROL. OF HIGH PRIORITY ARE SUCH TOOLS AS TAX INCREMENT
FINANCING, HOUSING AND REDEVELOPMENT AUTHORITY, ECONOMIC
DEVELOPMENT AUTHORITY, AND PORT AUTHORITY.
2. EXTEND ECONOMIC DEVELOPMENT/PORT AUTHORITY POWERS TO ALL
CITIES THAT WANT SUCH AUTHORITY.
3.
PROVIDE CITIES THE AUTHORITY TO ISSUE
TO ASSIST THEIR RESIDENTS/PROPERTY
UNINSURED PROPERTY DAMAGE AS A RESULT
DISASTER IN THAT DESIGNATED AREA.
4. EDUCATE ITS MEMBERS DURING 1988 REGARDING OTHER ECONOMIC
DEVELOPMENT TOOLS AND HOW AND IF, THEY COULD BE USED BY
METROPOLITAN AREA CITIES. TOOLS TO BE CONSIDERED INCLUDE:
GENERAL OBLIGATION BONDS
OWNERS WHO EXPERIENCE
OF A FEDERALLY DECLARED
A. STATE FINANCED QUASI - PUBLIC AGENCIES AND FUNDS SUCH AS
THE GREATER MINNESOTA CORPORATION, IRRRB, URAP AND RALF. .
B. IMPACT/DEVELOPMENT DEDICATION FEE. .
C. PRIVATE TRANSPORTATION CORPORATIONS AND ROAD UTILITY
DISTRICTS.
IF IT IS DETERMINED THAT THESE TOOLS ARE NOT AVAILABLE BECAUSE
OF STATUTORY LIMITATIONS, DETERMINE IF THERE IS SUFFICIENT
INTEREST TO PURSUE REMOVAL OF THOSE LIMITATIONS DURING THE
1989 LEGISLATION SESSION.
-15-
5. TO DEVELOP A STRATEGY BASED ON FACTUAL INFORMATION DURING 1988
TO REFUTE/DISPELL THOSE PERCEPTIONS DESCRIBED IN THE POLICY
BACKGROUND 'SECTION WHICH MAY HAVE AN ADVERSE IMPACT ON
ECONOMIC DEVELOPMENT TOOLS AVAILABLE TO METROPOLITAN AREA
CITIES.
-1b-
IV
METROPOLITAN AREA ISSUES & CONCERNS
IV-O SOLID WASTE MANAGEMENT IN THE METROPOLITAN AREA.
The sOLid waste management system in place in the 7-county area
is -b-a,s.ioe-a-.l:-.l:-y a three-tiered system: -whe-r>-eey- ci ties controL and
regulate collection; counties are responsible for 'siting' new
landfills, developing abatement plans, developing processing
facilities and regulating existing landfills; and the
l"letropoli tan Council provides grants and has regional planning
and coordinating responsibilities. The system was intended to
foster and encourage abatement, recycling and resource recovery
for as much of the waste stream as possible and then to assure
environmentally sound ~~QQ~~-j,.k disposal for the remaining solid
waste. Maximum cooperation and coordination among and between
the various levels and units of government and the private sector
are needed if the system is to work as intended.
0-1 CONSOLIDATION OF SOLID WASTE MANAGEMENT RESPONSIBILITIES
A.g..-i-QQ4.-oa-t.e4--iofl--t-Ile--p-pev-i-ou-s-f)-a-Pagf'-apfly The res pons i bil i ties for
managing solid waste in the Metropolitan Area are shared by the
Metropolitan Council, Counties and Cities and Towns. The AMM
believes that if the area is to reach its mandate of no more
landfilling of unprocessed solid waste by 1990, the
responsibilities for source separation, abatement and
recycl ing related acti v i ties must be more eef'l't-r-aH,-y- effecti velv
coordinated at the county level.
THE AMM RECOMMENDS THAT THE COUNTIES ASSUME THE RESPONSIBILITIES
FOR ALL SOURCE SEPARATION, ABATEMENT, AND RECYCLING RELATED
ACTIVITIES AND PROJECTS WHEN A CITY -1-3- DOES NOT SUBSTANTIALLY
MEET~*G THE COUNTY ESTABLISHED GOALS. THE MUNICIPALITIES NOT
MEETING THE GOALS WOULD RETAIN ~Y-L~~ITE~ AUTHORITY TO REGULATE
THE COLLECTION OF SOLID WASTE TO PROTECT THE HEALTH, SAFETY AND
WELFARE OF THEIR RESIDENTS.
0-2 ALTERNATIVES TO LANDFILLS
All levels and units of government and the prlvate sector should
participate and cooperate in planning amd managing the solid
waste stream to assure a cost efficient and environmentally sound
solid waste management system. Landfilling should only be used
as a last resort and then only for "processed" solid waste or for
those materials which can not be recycled, reused, or disposed of
in a more acceptable manner.
THE AMM ENDORSES ABATEMENT, RECYCLING AND RESOURCE RECOVERY
ACTIVITIES AND PROGRAMS TO REDUCE THE NEED FOR'IN-GROUND DISPOSAL
-17-
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Ut -TH~"--'ft)NNltG'E-Pft(](jRjltt;- - t i"F"-~(jt.'i-eY- tT--t -- i-fr--Af)()p-TEfr -'fHEN- -e6tJtrr-:tES
ftk'l"HEit -'fHAN- -e1'fi"E3' - WtliJ1;~ - itEC'E I V'E" -THE" - -ABt>VE' - - 'RE"rM8tJ'R3EMENTS "-. THE
1987 AMENDMENTS TO THE WASTE MANAGEMENT ACT (WMA) ELIMINATED
DIRECT SUBSIDIES TO CITIES FROM THE METROPOLITAN COUNCIL IN FAVOR
OF A SYSTEM WHICH CHANNELS THE SUBSIDIES THROUGH THE COUNTIES TO
PROVIDE MORE EFFECTIVE SUPPORT AND COORDINATION ON A COUNTY
BASIS. THE AMM BELIEVES THAT COUNTI~S SHOULD CONTINUE TO PROVIDE
STRONG FINANCIAL SUPPORT TO LOCAL ABATEMENT PROGRAMS WHICH WAS
CLEARLY THE INTENT OF THE LEGISLATURE.
0-3 DISPOSAL DEADLINES
Current law contains a deadline that wi~l prOhibit the disposal
of "unprocessed" solid waste in landfills effective January 1,
1990. The AMM supports this prohibition provided that sufficient
alternatives are on line to process the solid waste generated in
the Metropolitan Area by that date at a reasonable cost.
THE METROPOLITAN COUNCIL SHOULD MONITOR THE DEVELOPMENT OF THE
ALTERNATIVE FACILITIES FOR THE PROCESSING OF SOLID WASTE ON A
CONTINUOUS BASIS TO ASSURE THAT ADEQUATE PROCESSING CAPACITY WILL
BE AVAILABLE BY 1990. DEFINITIVE INFORMATION MUST BE PROVIDED TO
THE LEGISLATURE BY JANUARY 1, 1989 SO THAT THE 1990 DEADLINE CAN
BE MODIFIED AS NEEDED.
0-4 COMPENSATION AND INCENTIVES FOR HOST COMMUNITIES
Solid waste landfills have many undesirable impacts on the "host"
communi ties and they should be compensated for all, direct and
indirect costs associated wi th the undes irable impacts such a
faCility has on the community.
THE AMM SUPPORTS THE CURRENT COMPENSATION LEVEL AND BELIEVES IT
SHOULD BE CONTINUED. AS OTHER MAJOR SOLID WASTE PROCESSING
FACILITIES GO ON LINE (SUCH AS INCINERATION TYPE FACILITIES), THE
IMPACT OF THESE FACILITIES ON THE HOST OR ADJACENT COMMUNITIES
SHOULD BE CAREFULLY MONITORED TO DETERMINE IF THEY ALSO HAVE
SIGNIFICANT UNDESIRABLE IMPACTS AS OPPOSED TO BENEFITS. IF SO,
SOME FORM OF COMPENSATION MAY ALSO BE NECESSARY FOR THOSE
COMMUNITIES.
0-5 FUNDING FOR ENVIRONMENTAL, PERSONAL AND PROPERTY DAMAGES
Studies conducted by the Minnesota Pollution Control Agency
(MPCA) and the Minnesota Health Department have indicated that
most, if not all, landfills in the metropolitan area are causing
-18-
ground water contamination problems. HOW significant these
problems are or what the impacts will be is largely undetermined
at this point in time. Since 1985 a portion of the revenue from
the surtax on solid waste going into landfills goes into a fund
dedicated to help correct pollution problems.
THE AMM SUPPORTS THE CURRENT FUNDING LEVEL AND BELIEVES IT SHOULD
BE CONTINUED TO PROVIDE HELP TO PERSONS OR COMMUNITIES INJURED OR
DAMAGED BY ADVERSE ENVIRONMENTAL INCIDENTS CAUSED BY LANDFILL
CONTAMINATION. (I.E. REAL OR PERSONAL PROPERTY DAMAGE, PERSONAL
INJURIES, CLEAN-UP aCTIVITIES, ALTERNATIVE WATER SUPPLIES, ETC.).
COUNTIES MUST EXERCISE THEIR STATUTORY RESPONSIBILITIES TO ASSURE
THAT LANDFILLS ARE INSPECTED AND OPERATED IN ACCORDANCE WITH
STATE AND COUNTY REQUIREMENTS.
0-6 COUNTY RESPONSIBILITIES
Counties have the major responsibilities for managing and
implementing the solid waste disposal system and are authorized
to charge a surtax of 25 cents per cubic yard of solid waste to
help pay for alternatives to land disposal.
THE AMM SUPPORTS CONTINUATION OF THE COUNTY SURTAX AUTHORIZATION.
THE AMM ALSO URGES THE COUNTIES TO RAPIDLY DEVELOP PREFERRED
DISPOSAL TECHNIQUES WHICH ARE ENVIRONMENTALLY SOUND AND COST
EFFICIENT.
0-7 TRANSFER STATION RULES AND REGULATIONS
Metropolitan Counties are given the power to acquire by purchase,
lease, gift or condemnation solid waste facilities or properties
which includes transfer stations. Acquisition is permitted
without compliance with local land use ordinances. Metropolitan
cities have no protection, except through a review process, from
improvident designation of transfer station sites.
THE AMM URGES THE MINNESOTA POLLUTION CONTROL AGENCY (MPCA) TO
QUICKLY EXERCISE ITS RESPONSIBILITIES AND PROMULGATE RULES AND
REGULATIONS WITH RESPECT TO THE SITING OF SOLID WASTE TRANSFER
STATIONS. SUCH RULES AND REGULATIONS ARE NECESSARY TO PROTECT
THE HEALTH, SAFETY AND wELFARE OF THE RESIDENTS OF THE AFFECTED
CITIES SINCE SUCH FACILITIES ARE NOT SUBJECT TO THE PROVISIONS OF
CITY ORDINANCES.
0-8 ORGANIZED COLLECTION AND FLOW CONTROL
The 1987 WMA Amendments clarified and made more explicit the
authorl ty ot Cl tles to lmp.lement organlzeo CO.l.lectlon, ot mlxeO
municipal solid waste. The clarifying amendments were strongly
supported by the AMM and a large number of individual cities who
felt this was an additional tool to enhance local abatement and
-19-
recycling efforts. Cities were also given limited "flOW control"
authority, subject to conforming to County requirements, as part
of the organized Collection \'IMA Amendment. Cities cannot,
however, implement "flow control" independent of an organized
collection system as defined in M.S. 11~A.94.
THE AMM BELIEVES CITIES SHOULD BE PROVIDED THE OPTION TO
IMPLEMENT FLOW CONTROL (AS DEFINED IN M.S. 115A.94, SUeD. 3 (D))
BY LICENSE OR ORDINANCE. CITIES SHOULD NOT HAVE TO IMPLEMENT AN
ORGANIZED COLLECTION SYSTEM IN ORDER TO USE "FLOW CONTROL" TO
ENHANCE ABATEMENT AND RECYCLING EFFORTS.
0-9 RECYCLING DEFINITION
of recycling was clarified in M.S.
73. 03, Subd. 1e. b to include "yard waste composting" and
"recycling that occurs at a waste facility through mechanical or
hand separation of materials---". The AlvJM supports this
clarification and since the intent of abatement and recycling is
to conserve resources and reduce the amount of waste being
landfilled; the clariflca~ion makes sound environmental sense.
THE AMM URGES THE METROPOLITAN COUNCIL TO RECOGNIZE AND
INCORPORATE THE DEFINITIONAL CLARIFICATION AS SOON AS PRACTICAL
IN ITS SOLID WASTE MANAGEMENT DEVELOPMENT GUIDE/POLICY PLAN.
IV-P METROPOLITAN FUND
There has been significant discussion recently among community and
political leaders about the concept of a metropolitan fund or
independent metropolitan funding source. Various usages for such
a fund have been identified including such items as regional
infrastructure replacement/expansion; transportation projects;
subsidizing economic development projects of "regional
significance"; and as a new source of funds for the regional
agencies. A number of possible funding sources have also been
discussed such as an add on metropolitan sales tax; a payroll
tax; fiscal disparities, etc. This concept also raises a n~mber
of implementationladministration type questions that are of
concern to local officials.
THE AMM DOES NOT SEE THE NEED FOR NOR DOES IT SUPPORT A SEPARATE
METROPOLITAN FUND OR FUNDING SOURCE UNDER EXISTING CONDITIONS.
HOWEVER, IF THIS CONCEPT CONTINUES TO BE DISCUSSED WITHIN THE
REGION AND THE LEGISLATIVE PROCESS; THE AMM WILL PARTICIPATE IN
THE DEBATE TO REPRESENT THE INTERESTS QF ITS MEMBER CITIES. MANY
QUESTIONS/ISSUES WOULD HAVE TO BE RESOLVED TO THE AMM'S
SATISFACTION INCLUDING THE FOLLOWING:
-20-
-ASSURANCE THAT THE METROPOLITAN AREA WOULD CONTINUE TO RECEIVE
ITS FAIR SHARE ALLOCATION (NO LESS 'THEN IT WOULD RECEIVE IF A
METROPOLITAN FUND DID NOT EXIST) OF STATE FUNDED PROGRAMS.
-EVIDENCE THAT A MAJOR REGIONAL OR METROPOLITAN NEED EXISTS FOR
SUCH A FUND AND THAT IT CANNOT BE FINANCED THROUGH EXISTING
SOURCES.
-DEVELOPMENT OF A FAIR AND EQUITABLE PROCESS/SYSTEM FOR
DISTRIBUTING THE FUNDS WHICH INCLUDES MUNICIPAL 1NPUT
-21-
v
TRANSPORTATION
V-B MOTOR VEHICLE EXCISE TAX TRANSFER
The Motor Vehicle Excise Tax was significantly increased in the
early 198D's and dedicated to the State General Fund to offset the
affect of a declining economy and reduced state revenues. The
Legislature recognized that Highway and Transit Program needs were
growing and that ultimately additional funding would be needed in
these areas. Thus, a transfer of this tax from General Fund to
the Highway and Transit Funds was established starting with 25% in
1985 and finally reaching 100% in 1992. The transfer was
suspended in 1986 and 1987 because of reduced state revenues after
a short period of growth. The 1987 Legislature further
restricted the transfer to 5% per year only. Necessary street and
highway construction and reconstruction is falling behind
significantly. Without this source of funding, the roadway system
will become a major state crisis. Many state officials are
suggesting the need for general support of a 'new source' funding
package for transit and highways. However, with the example of
administrations and legislators constantly diverting funds
previously allocated to solve the specific problem, it does not
seem logical to support any new programs that can be similarly
treated in the future. Gas tax increases are protected from
diversion but do not help transit.
THE AMM URGES THE LEGISLATURE TO ALLOW CUR-REN.!l'--I:.AW--GGVEffiH'NG THE
MOTOR VEHICLE EXCISE TAX TRANSFER TO -REMAl~--lN--~I.A-CE- OCCUR
WITHOUT FURTHER SUSPENSION TO ENSURE SOME NEEDED GROWTH FOR
STREET AND HIGHWAY MAINTENANCE, RECONSTRUCTION AND NEW
CONSTRUCTION. FURTHER, THE AMM BELIEVES STRONGLY THAT THE MVET
FUNDS SHOULD BE TOTALLY TRANSFERRED FOR HIGHWAY AND TRANSIT
PROGRAMS PRIOR TO ADOPTION OF OTHER NEW OR.INCRI!;ASI!;D STATE WiDE
TAXES.
V-N METROPOLITAN HIGHWAY FUND
It has been suggested recently that a Metropolitan Highway Fund be
created for special projects presumably in conjunction with major
economic development. On the surface this may seem a laudable
idea but when scrutinized in depth raises some major concerns.
The first concern is funding source. If taken from Fiscal
Dispari ties it .is in reality an unequal property tax increase in
the metro area. A direct metro wide property. tax targeted for
economic advantage to a few areas would be unpopular at best and
considered by many to be unfair. A commercial/industrial property
tax inrease to help competitors would be unfair and increase the
already large tax burden attributed to business. Any other
funding source would be SUbject to the same dialogue. The second
concern is the cri teria for use and the beauracracy of decision
making and how to insure absolute fairness. Finally, if a separate
metropolitan fund exists to help coinstruct special projects, will
more general highway funds be skewed to out state or will the
legislature look at delaying or parceling off part of the motor
vehicle excise tax for other than highway/transit use?
-22-
BASED UPON THE UNCERTAINTY OF FUNDING SOURCE, FAIR ADMINISTRATION,
AND POSSIBLE LOSS OF STATE FUNDS, THE AMM OPPOSES CREATION OF A
METROPOLITAN HIGHWAY FUND. HOWEVER, IF CITIES CAN BE ASSURED THAT
CURRENT HIGHWAY FUNDING WILL CONTINUE TO BE FAIRLY SPLIT BETWEEN
OUTSTATE AND THE METRO AREAS, AND A SOURCE OF FUNDING FOUND WHICH
DOES NOT DETRACT FROM OTHER EXISTING NEEDS, THE AMM WOULD CONSIDER
MODIFICATION OF ITS STRONG OPPOSITION.
V-O MVET CONSTITUTIONAL AMENDMENT
The Motor Vehicle Excise Tax was designated to be transferred to
the highway and transit funds in a phased manner commencing in
1981. Each year since it has been delayed or reduced and finally
in 1987 was set at 5% for 1988 and beyond. It is clear that
unless these or some other funds ar.e dedicated in such a manner
that cannot be changed, the administration and legislature has
been i ncl ined to use the money for programs other than
transportation. Therefore;
THE AMM SUPPORTS A CONSTITUTIONAL AMENDMENT TO PROVIDE THAT THE
MOTOR VEHICLE EXCISE. TAX BE TRANSFERRED 75% TO THE HIGHWAY FUN!;>
AND 25% TO TRANSIT FUNDING.
V-P ROAD ACCESS CHARGE
Growing communities are finding it increasingly difficult to
finance construction of facili ties needed for new residential,
commercial, and industrial development. Assessment to developing
property for sewers and streets directly benefiting that property
is a long standing legal option and is the most prevalent method
used. However, there are often major streets that need to be
constructed leading to new development that benefit not only
abutting property but those new developments. Under current law
only the abutting benefited property can be assessed and then only
to the degree of benefit which in most cases is not nearly enough
to pay for an upgraded roadway that services a larger population.
The legislature has recognized similar situations and authorized
charges to provide facilities not directly abutting the affected
property. The most common is park dedication fees on a per unit
or area basis. The MWCC Sewer Availability Charge is another
similar fee.
IN ORDER TO FAIRLY PROVIDE MAJOR STREETS OF PRIMARY BENEFIT BUT
NOT DIRECTLY ASSESSABLE, THE LEGISLATURE SHOULD' AUTHORIZE CITIES
TO ESTABLISH AT THEIR OPTION A ROAD ACCESS CHARGE TO BE LEVIED ON
AN AREA OR PER LOT BASIS AT THE TIME THAT SUBDIVISIONS ARE
APPROVED SIMILAR TO PARK DEDICATION FEES.
-23-
V-Q PEAK HOUR INTERSTATE TRUCK BAN
The AMM is and has been a strong supporter of funding for Highways
and Transit programs in recognition of the increasing conjestion
on the major metropolitan highways. In conjunction with increased
highway and transit facilities, the AMM believes that programs
should be implemented that would better utilize existing
facilities. One of these would be to eliminate large trucks from
the major interstates during peak hour traffic. This would
increase capacity by 15% plus provide increased public safety.
Recent statistics show an accelerating accident ~ate between
trucks and passenger vehicles during these hours.
THE AMM REQUESTS THE LEGISLATURE AND MNDOT WORK WITH'TRUCKING
FIRMS TO STUDY ELIMINATION OF LARGE TRUCKS FROM SOME OR ALL OF THE
METROPOLITAN INTERSTATES DURING PEAK TRAVEL HOURS TO INCREASE
CAPACITY AND SAFETY. THE AMM ENCOURAGES IMPLEMENTATION OF SOME
FORM OF REDUCED TRUCK TRAFFIC DURING PEAK HOURS, INCLUDING A
DEMONSTRATION PROJECT, AS SOON AS PRACTICAL.
V-R WHEELAGE TAX
Current Statutes provide for Metropolitan counties to levy a
wheelage tax but if done the amount raised is deducted from state
prov ided revenue or property tax. Thus, it is senseless to use
since no additional funds are raised. However, there is a
signifcant recognizable need for Highway improvement funding at
all levels of government (county, city, state) in the Metropolitan
area and the counties have suggested use of the wheelage tax as a
means of providing additional local highway funding. The AMM
members find this to be an attractive alternative to other new
methods of funding being discussed and feel it could be extended
to cities as well.
THE AMM SUPPORTS USE OF THE WHEELAGE TAX
FUNDS TO AUGMENT HIGHWAY FUNDING NEEDS
AND SUGGESTS INCREASING THE AMOUNT AS
DISTRIBUTION FOR CITY ROADWAY NEEDS.
WITHOUT LOSS OF OTHER
BY METROPOLITAN COUNTIES
APPROPRIATE TO INCLUDE A
-24-
I-D PROPERTY TAX
D-1 TAX EXEMPT PROPERTY
One of the glaring inequities in the Minnesota tax system involves
the free local services that are provided to tax exempt property
owned by the state and by certain non-governmental organizations~
It is widely acknowledged that such property benefits directly from
governmental services such as police and fire protection and street
services provided by cities and counties. However, since there is
not legal basis for claiming reimbursement for the cost of such
services, they are borne by the local taxpayers. Furthermore, such
property is concentrated in certain cities and counties resulting
in a heavy cost burden in certain parts of the state.
THE ASSOCIATION BELIEVES THIS PROBLEM SHOULD BE CORRECTED BY
ENACTING LEGISLATION, REQUIRING OWNERS OF TAX EXEMPT PROPERTY,
ffiCCffilT-Fe-R- CHiffiCH-ES,-HOUSB-S OF'- WORSH-f-P,- AN>> - P-ROPEftTY- US-ED-sGt-ElTY
FfrR -ED\t€AT"iON1.L~URPOS'ES '-I3'Y -ACAi)'EMrE-5, 6eLb-E6E&-, UtHY-EH-SI-TIB-S- kND
frEMrNARTES ~F -tEkRNrN6, TO REIMBURSE CITIES AND COUNTIES FOR THE
COST OF MUNICIPAL SERVICES.
if ".
November 20, 1987
!l.o1.i-talt ~
~O O~
r E
~ :::
q. ..
" ...'"
;f,~. ..,:, r-
~'NC1'f\'P
M etropol itan 'Cou neil
300 Metro Square Building
Seventh and Robert Streets
St. Paul, Minnesota 55101
Norm Schiferl
Special Assistant to the
Anoka County Courthouse
Anoka, MN 55303
County Administrator
Telephone (612) 291-6359
70 cC,
.-. -. '1J7.. r-1/17 . ,.. ' ,
[ ! f i V Ell
i\ r~~;;lU
RE: Anoka County
Abrogation of Development Limitation Request
Candidate Site Q
City of Andover
Metropolitan Council Referral File No. 10246-9
I"'Tynr.-. "'""')\!ER
Dear Mr. Schiferl:
At its meeting on November 19, 1987, the t1etropolitan Council considered the
request to lift the development limitation on a small portion of the buffer
area surronding Candidate Site Q in Andover. This consideration was based on
the following report from the Consent List which was adopted by the Council:
Anoka County has submitted a request to the Metropolitan Council to lift
the development limitation on a small portion of the buffer area
surrounding Candidate Site Q in Andover. The purpose of this request is to
allow the construction of a county owned and operated radio antenna to
serve law enforcement, fire protection, emergency medical service, and
county parks in Anoka County. The proposed 300' antenna would be located
on county-owned property in the on-site buffer near the intersection of
Hanson Blvd. and Bunker Lake Blvd. and would be west of the existing County
Highway Department facilities (also located in the buffer area). For
construction to proceed, both the County and the Council must act to
abrogate the development limitation currently in place (Minn. Stat. Sec.
473.806 Subd. 1). The purpose of this statute is to avoid jeopardizing the
availability of a site for use as a landfill, or to avoid affecting the
comparative evaluation process between various inventory sites. The Anoka
County Board at its October 20, 1987 meeting approved the recommendation of
the Anoka Community Health and Social Services Board and the Anoka County
Environmental Services Committee to lift the development limitation. The
construction of the proposed radio antenna will not jeopardize Site Q for
use as a landfill, nor will the existence of a radio antenna affect the,..
comparative evaluation of Anoka County candidate landfill sites.
Therefore, the Council should approve removing the limitation on
development for the proposed radio antenna as requested by Anoka County in
its letter dated October 9, 1987.
An Equal Opportunity Employer
.. ,..
''''\
Page 2
Norm Schiferl
The Council approved this staff report as its comments to remove the limitation
on development for the proposed radio antenna as requested by Anoka County.
Sincerely,
0~~
Steve Keefe
Chair
SK: 11
cc: Jay McLinden, Administrator, Anoka County
James Schrantz, Administrator, City of Andover
Bruce Wojack, Central Communications
Tom Caswell, Metropolitan Council Staff
..
10 C,C.
I/f21!~7
PIPER CAPITAL MANAGEMENT
INCORPORATED
~c~
A Subsidiary of Piper Jalfray Incorporated
Piper Jaffray Tower
Post Office Box 28
Minneapolis, Minnesota 55440
612-342-6000
::r:r811
7
November 18, 1987
Mr. Jim Schrantz
City of Andover
1685 Crosstown Blvd. NW
Andover, MN 55304
'~j,f'-fi' r ' j\+:~ ;.:~ 1~
t.;..J l \J c', '.1 '\:I ;;,,,, \
j \' .... -'.'..'......'.., .
f -, . -......,."'~....._.,L:,...
r~2_~ 198~1
CITY Ct:' · "!DOVER
Dear City Official:
Because you have shown an interest in the Minnesota Municipal Money Market Fund (4M Fund), I
wanted to take a moment to share with you the progress and the current status of the Fund.
Piper Capital Management and the League of Minnesota Cities are pleased to report that there are
67 municipalities participating in the Fund. As of today, the Fund balance in the money market
accounts totalled over $19 million and the balance in Certificates of Deposit was $29 million,
totalling over $48 million invested.
I have enclosed a report which summarizes the rates in both the Money Market Fund and the
Certificates of Deposit during October. Today, the fund quoted a daily yield of 6.73% and a 7-day
average yield of 6.69%. CD rates today were:
30
Davs
60
Davs
90
Davs
120
Davs
150
Davs
180
Davs
270
Davs
365
Davs
7.50%**
7.5%
7.875%
8.125%
8.125%
8.40%
8.40%
8.50%
** These rates are net of all fees.
Nineteen communities are using the checkwriting option to maXImIze their investments. It is our
opinion, that for many communities, the Fund and its checkwriting option gives your community an
effective, easy-to-use cash management system.
Consistent with the program's original objectives, the Fund continues to earn high money market
rates while maintaining safety of principal. Special attention continues to be given to the credit
quality of all investments in light of the current volatility in the stock IIlarkets.
I am enclosing for your information some information pieces about the program. Piper Capital
Management also distributes a quarterly newsletter called "Outlook." If you would like
Page 2
any additional information about the 4M Fund, or would like to be included on our mailing list for
"Outlook", please give me a call at 1-800-333-6000 x6423 or (612) 342-6423.
I look forward to meeting you and working with you in the future and would welcome your
participation in the Fund.
Sincerely,
PIPER CAPITAL MANAGEMENT
-::~~
~ President
KC/CU
Enclosure
cc: David DuBord, Controller
League of Minnesota Cities
..
.'
;
REPRESENT A TIVE
CD RATES FOR
OCTOBER 1987
30 60 90 120 150 180 270 365
!!m Davs !!m Davs Davs Davs Davs !!m
10/1 7.470 7.720 7.845 7.845 7.970 8.095 8.220 8.345
10/2 7.470 7.720 7.845 7.845 7.970 8.095 8.220 8.345
10/5 7.470 7.720 7.845 7.845 7.970 8.095 8.220 8.345
10/6 7.470 7.720 7.845 7.845 7.970 8.095 8.220 8.345
10/7 7.470 7.720 7.845 7.845 7.970 8.095 8.220 8.345
10/8 7.470 7.720 7.970 8.095 8.220 8.345 8.470 8.595
10/9 7.470 7.720 7.970 8.095 8.220 8.345 8.470 8.595
10/13 7.720 7.970 8.220 8.470 8.470 8.595 8.720 8.845
10/14 7.720 7.970 8.470 8.595 8.595 8.720 8.845 8.970
10/15 7.720 7.970 8.470 8.595 8.595 8.720 8.845 8.970
10/16 7.720 7.970 8.470 8.595 8.595 8.720 8.845 8.970
10/19 7.970 8.220 8.720 8.970 9.095 9.220 9.220 9.220
.'
;. ,
MONEY MARKET FUND YIELD COMPARISONS.
7 Day Average
hAM
MY
AUl!.ust Smll
~
MINNESOTA MUNICIPAL MONEY
MARKET FUND
6.88%
6.15%
6.37% 6.73%
6.98%
Alliance Capital Reserves 5.91 5.86 5.86 6.21 6.42
Current Interest 5.69 5.61 5.61 5.91 6.31
Fidelity Daily Income 6.05 5.98 5.95 6.27 6.59
Mutual of Omaha 5.80 5.80 5.81 6.41 6.41
Paine Webber MM 6.14 6.02 5.96 6.35 6.73
Piper MM 6.14 6.04 5.96 6.27 6.65
Putnam Daily Dividend 5.79 5.70 5.64 NQ 6.83
Shearson Daily Dividend 6.03 5.98 5.98 6.27 6.31
· Taken from Donoghue's Money Fund Report/1 Day Averages
DEPOSIT ACCOUNT YIELD COMPARISONS
ONE DAY YIELD
Nov 12
MINNESOTA MUNICIPAL MONEY
MARKET FUND
6.70%
First Bank, Minneapolis
5.40%
Norwest Bank, Minneapolis
5.50%
Golden Valley State Bank
5.00%
Security State Bank, Alexandria
5.25%
DATE: November 24, 1987
ITEMS GIVEN TO THE CITY COUNCIL
Letter Burke & Hawkins - Easement Acauisition
Letter Burke & Hawkins - Andover Commercial Park
PLEASE ADDRESS THESE ITEMS AT THIS MEETING OR PUT T~EM ON THE NEXT
AGENDA.
THANK YOU.
'.
LAW OFFICES OF
IJufkc ond Jlowkins
SUITE 101
299 COON RAPIDS BOULEVARD
COON RAPIDS. MINNESOTA 55433
PHONE 16'21 784-2998
JOHN M, BURKE
WILLIAM G. HAWKINS
BARRY M. ROBINSON
November 20, 1987
Mayor Jerry Windschitl
and Andover City Council
1685 Crosstown Blvd. N.W.
Andover, MN 55304
Dear Mayor and Council:
The following are our recommendations for financing the
acquisition costs for the Andover Commerical Park.
,
In 1986 the City set up Tax Increment Financing District No. 1-1
which included the developments of Hidden Creek 1st, 2nd and 3rd
Addi tions, as well as Hidden Creek East. At the time of the
. establishment of the District, the plan included an estimated
revenue stream based upon the best available information on the
housing development and market value in these additions. Also
at that time it was assumed that Hidden Creek East would be
developed within one to two years after platting, however, due
to the potential of hazardous waste material on this parcel, the
development of the property has been delayed. Based upon the
above information we have revised the Tax Increment Revenue
projections. Due to the uncertain nature of the development of
Hidden Creek East, we have separated its revenue projections,
for planning purposes. The tax increment revenue that is shown
on Exhibit B (the Cash Flow Analysis) to support this bond issue
does not include potential income from Hidden Creek East.
Should that develop as contemplated in 1990, additional revenues
would be available for projects within the development district.
We have determined the cost that the City has incurred in regard
to the land acquisition for the Commercial Park as follows:
Mayor and Council Members
November 20, 1987
Page 2
Sonterre Land Purchase
Acquisition Costs
Surveyor
Plan Preparation by Engineering Firm
Administrative
Bond Counsel
Fiscal Costs
Capitalized Interest
Discount
$
130,000.00
16,500.00
8,500.00
5,500.00
11, OOC. 00
5,000.00
8,000.00
l7,000.00
3,500.00
205,000.00
TOTAL
$
It is our recommendation that the City sell three year General
Obligation Temporary Taxable Tax Increment Bonds in the amount
of $205,000.00 to fund this project. Schedule A attached hereto
is the Tax Increment Revenue Analysis for Hidden Creek 1st, 2nd
and 3rd Additions. Schedule B is the Cash Flow Analysis which
shows the tax increment revenue and the debt service requirement
for such a temporary bond issue. As you can see the tax
increment revenue received in the years 1988, 1989 and 1990 will
be more than sufficient to offset the pr incipal and interest
expense on this bond issue.
In addition to the tax increment revenue the City will have
proceeds from the sale of lots within the Commercial Park. The'
appraised value of these lots ranges from $.65 to $.85 per
square foot. This would provide a s'ubstantial amount of revenue
in addition to the tax increment revenue for payment of the
acquisition costs.
,
The City is financing the internal improvement costs as a part
of the $1,550,000 General Obligation Temporary Improvement Bond
issue. The estimated costs for such internal improvements
including overhead is $584,845. These costs would also have to
be financed from the tax increment revenues and lot sale
proceeds. Therefore the total expense that the City will have
in the acquisition and development of the Commercial Park is
$789,845.
Since a substantial amount of tax increment money will be
received as shown on the Revenue Analysis Schedule attached as
well as revenues from lot sales, it is our recommendation that
the City consider the sale of temporary bonds. Since the rate
of interest that would be paid on these bonds will be higher due
to its taxable status, the likelihood that the City will be able
to generate any arbitrage profit is negligible should the
financing be extended over a longer period of time. Further-
more, the City should have sufficient funds to retire these
bonds even if lot sales do not take place solely on the Tax
Increment Revenue that is received. We therefore feel that
there is little chance that the City would have to refund these
bonds in an unknown market. Nevertheless this possibility does
Mayor and Council Members
November 20, 19&7
Page 3
exist as has been explained in our recommendations for the past
two general obligation temporary improvement bond issues which
the City has sold.
Since the bond issue is less than $1.2 million dollars,
Minnesota Statutes authorize that it may be sold through direct
negotiations. Since this can result in slightly less expense we
are recommending that we negotiate a direct sale of this
temporary bond issue with Miller & Schroeder Investments. We
are confident that our knowledge of the general market at the
time of the negotiations will ensure that the bid submitted will
he competitive. We are not recommending that the City obtain a
rating from Moody's Investors Services. Conversations wi th
Moody's indicates that they will not require that we obtain a
rating on this issue. The cost of such a rating could be in
excess of $1,000 and it is an expense that we do not feel is
necessary in order to market the bonds.
The bonds would be dated December 1, 1987 and the first interest
payment would be due on June 1, 1988. Provision has been made
for capitalized interest to make the bond payments due on June
1, 1988 and December 1, 1988 since the City will not receive tax
increment revenues until the summer of 1989. We are providing
that the entire temporary bond issue mature on December 1, 1990
and be subject to call on June 1, 1990. We are recommending the
City authorize the sale of the 'bonds at their meeting on
December 1, 1987. If the award of bids is made on that date,
proceeds would be available approximately thirty days
thereafter.
If any members of the City Council have any questions regarding
this, please feel free to contact me.
,
William G. Hawkins
WGH:mk
Enc.
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LAW OFFICES OF
, .~7)^'.';',..;'
oc+crc>!;'(.2- (; , -
ITL~ 'e
I!t/rlle nltd Jlnwllilts
SUITE 101
299 COON RAPIDS BOULEVARD
October 9, 1987
_, ". ... . COON RAPIDS. M~NE5eTA-S54a
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CITY OF ANDOVER
JOHN M, BURKE
WILLIAM G, HAWKINS
BARRY M. ROBINSON
Mr. James E. Schrantz
Andover City Hall
1685 Crosstown Blvd.
Andover, MN 55304
Re: Easement Acquisition - Project 87-3
Dear Jim:
Enclosed please find a copy of a letter I have received from the
County Attorney as well as Indemnification Agreements and
Easements that the City needs for the sewer and water system
over tax forfeited lands. Would you please have this matter
placed on the City Council agenda for approval.
tJn~JernlY ,
r~G.
Hawkins
WGH:mk
Ene.
~l(lP""''IiIi'!l'..\'t..~>r
Office of
ANOKA COUNTY ATTORNEY
ROBERT M.A. JOHNSON
Courthouse - Anoka, Minnesota 55303
September 25, 1987
612-421-4760
William G. Hawkins
Andover City Attorney
Suite 101
299 Coon Rapids Boulevard
Coon Rapids, MN 55433
RE: City of Andover Easement Acquisition Over Tax Forfeited Parcels
Parcel No. 87-3B/12; Parcel No. 87-3C/1; Parcel No. 87-3C/9
Dear Mr. Hawkins:
Enclosed for your review please find an original and two copies of an
indemnification agreement regarding the granting of utility easements on the above
described parcels and copies of the proposed utility easements. Please review 'the
agreement and easements and if they are satisfactory please have the appropriate city
officials sign all three agreements and forward them to me. If you have any problems
with the agreement or the easements please contact me as soon as possible so that they}'
can be corrected.
If the agreement and easements are satisfactory please contact me so that I may
proceed to have them approved by the County Board. I anticipate that the agreement and
easements will be approved by the County Board at the October 13, 1987 meeting.
If you have any questions regarding this matter please do not hesitate to call.
Sincerely,
\~ ~~._.
~.---=' ~
Dan Klint
Assistant County Attorney
DK:cjm
enclosures
cc: Commissioner Natalie Haas Steffens
Jim Plemel, Auditor's Office
Affirmative Action / Equal Opportunity Employer
AGREEMENT TO GRANT EASEMENT
THIS AGREEMENT is made and entered into this day of ,
1987, by and between the County of Anoka, a political subdivision under the laws of the
State of Minnesota, and hereinafter referred to as "County", and the City of Andover, a
political subdivision under the laws of the State of Minnesota, hereinafter referred to as
"City".
WHEREAS, certain land situated in the County of Anoka, State of Minnesota, with
property identification numbers 27-32-24-31-0007 and 27-32-24-44-0001 have forfeited to
the State of Minnesota for nonpayment of taxes, said property hereinafter referred to as
the "Site"; and
WHEREAS, pursuant to Chapter 282 of Minnesota Statutes, the County manages the
Site on behalf of the State of Minnesota; and
WHEREAS, the City desires to obtain utility easements across the Site; and
WHEREAS, pursuant to Minnesota Statute S 282.04, subd. 4, the County Auditor on
such terms as the County Board prescribes, may grant easements for sewer and water
lines on unsold tax forfeited land.
In consideration of mutual promises herein contained, the parties agree as follows:
1. GRANT OF EASTMENTS.
County hereby agrees to grant the City by separate instrument temporary
construction easements and utility easements across the Site, said easements being more
particularly described in Exhibits A, B, and C, which are attached hereto and incorporated
herein by reference.
2. INDEMNIFICATION.
In consideration for the granting of the above described easements, the City agrees
to hold harmless,. indemnify and defend the County, its commissioners, officers,
employees and agents against any and all claims, losses, damages, or losses for damages,
arising from, alledgedly arising from, or related to the design, installation, corntruction,
maintenance and operation of the utility services upon the easements granted herein.
.
In witness whereof, the parties of this agreement have hereunto set their hands on
the dates written below:
COUNTY OF ANOKA
By:
Dan Erhart, Chairman
Anoka County Board of Commissioners
Dated:
A TrEST:
By:
John "Jay" McLinden
Anoka County Administrator
APPROVED AS TO FORM & EXECUTION:
Dan Klint
Assistant Anoka County Attorney
DK:Cont-7
CITY OF ANDOVER
By:
Mayor of City of Andover
Dated:
By:
Andover City Clerk
Dated:
...
27-31-24-31-0007
Andover
Commissioner Haas-Steffen
.cOUNTY or ANOItA
.STATE or MINNESOTA
'OFFICE OF THE COUNTY AUDITOR
CONVEYANCE OF EASEMENT OVER
TAX-FORFEITED LANDS FOR CERTAIN
PUBLIC PURPOSES
ssued Pursuant to section 282.04, Subd. 4 of the Minnesota Statutes.
THIS INDENTURE, made this
day of
, 19
-'
etween the State of Minnesota, as party of the first part, and
city of Andover
,
arty of the second part:
WITNESSETH:
WHEREAS, the Board of county commissioners for the county of Anoka
id by resolution on the
day of
, 19 _, prescribe
,he terms for the conveyance of an easement for certain public purposes
over certain tax-forfeited real property situate in the County of Anoka,
:tate of Minnesota:
NOW, THEREFORE:
The undersigned County Auditor for and in behalf of the State of
linnesota, for and in consideration of the sum of Ten and no/10C------------n----- .
____________________________ Dollars, in hand paid, receipt of which is hereby
.
Icknow1edged, does hereby grant and convey unto the party of the second
)art an easement for
utility
purposes over the tax-forfeited real
!state situate in the County of Anoka, State of Minnesota, which easement
ls described as follows:
See attached "Exhibit A - 37-3C/1"
Said easement i_ subj ct t the followinq terms:
I sucb other conditions as stated in section 282.04, Subd. 4 of tb
lnesota Statutes.
IN TESTIMONY WHEREOF, the State of Minnesota bas caused tbis
sement to be executed by the County Auditor of Anoka County in tbe City
Anoka, County of Anoka, and State of Minnesota, tbe day and year first
)ve written.
'Charles R. Lefebvre, County Audi~or
County of Anoka, Minnesota
BY:
Deputy County Auditor
.~-
ATE OF MINNESOTA)
) ss.
UNTY OF MOKA )
On this
day of
, 19___, before me personally appeare
, me known to be the person who executed the foregoing easement in behalf
the State of Minnesota and acknowledged that he executed the same as the
'ee act and deed of said state pursuant to the Statutes in such case made
ld provid d.
Notary Public
lis instrument was drafted by:
.
loka County Attorney
!5 E. Main Street
loka, MN 55303
?proved as to form and execution:
~sistant Anoka County Attorney
.
. ~.
..
EXHIBIT A
PARCEL NO. 87-3Cjl
A permanent easement for utility purposes over that portion of
the following described property:
That part of the Northeast Quarter of the Southwest Quarter
of Section 27, Township 32, Range 24, that is described as
follows - commencing at the Northeast corner of said
Northeast Quarter of the Southwest Quarter, thence West
along the North line thereof for 58.6 feet and to the
centerline of County State Aid Highway No. 18, thence South
32 degrees, 55 minutes West for 550.17 feet along said
centerline, thence South 44 degrees 11 minutes West for
342.85 feet along said centerline, thence South 45 degrees
26 minutes East for 872 feet and to the Southeast corner of
said Northeast Quarter of the Southwest Quarter, thence
North along the East line of said Northeast Quarter of the
Southwest Quarter and to the point of commencement.
which lies within the following 40 foot strip of land, the
center line of which is described as follows:
Commencing at the northeast corner of the Southwest Quarter
of Section 27, Township 32, Range 24, Anoka County,
Minnesota: thence South 0 degrees 56 minutes 27 seconds
East, assumed bearing, along the east line of said Southwest
Quarter a distance of 141.13 feet: thence North 60 degrees
49 minutes 58 seconds West a distance of 97.70 feet to the
actual point of beginning of the line to be described~
thence South 60 degrees 49 minutes 58 seconds East a
distance of 400.49 feet: thence South 61 degrees 07 minutes
43 seconds East a distance of 518.24 feet: thence South 88
degrees 00 minutes 00 seconds East a distance of 286.95-
feet: thence South 85 degrees 03 minutes 11 seconds East a
distance of 455.05 feet: thenc.e~out~ 41 degrees 38 minutes
22 seconds East a distance of 352.92 \feet: thence South 42-
degrees 03 minutes 16 seconds'~ast~ distance of 361.72.
feet: thence South 43 degrees 04 minutes 36 seconds East a
distance of 282.93 feet: thence South 67 degrees 03 minutes
39 seconds East a distance of 400.21 feet: thence South 84
degrees 29 minutes 30 seconds East a distance of 140.61'~
feet: thence South 68 degrees 29 minutes 37 seconds East a
distance of 18.57 feet to the east line of said Section 27,
said line also being the west line of Section 26: thence
continuing South 68 degrees 29 minutes 37 seconds East a
distance of 356.79 feet: thence South 71 degrees 02 minutes
59 seconds East a distance of 350.63 feet: thence South 77
degrees 12 minutes 13 seconds East a distance of 339.34
feet: thence South 68 degrees 28 minutes 51 seconds East a
distance of 356.78 feet; thence South 63 degrees 10 minutes
05 seconds East a distance of 450.00 feet; thence South 55
degrees 31 minutes 08 seconds East a distance of 450.00
feet: thence South 89 degrees 38 minutes 57 seconds East a
distance of 896.50 feet; thence South 0 degrees 21 minutes
03 seconds West a distance of 217.13 feet to the south line
of said Section 26, said line also being the north line of
Section 35: thence continuing South 0 degrees 21 minutes 03
seconds West a distance of 361.00 feet and said center line
there terminating.
.. "
.
. . ^
f
A temporary easement for utility construction purposes to expire
September 1, 1998 60 feet in width, said easement being 30 feet
on each side of the permanent easement described above.
..
27-32-24-M-0001
Andover
Co~isioner Haas-Steffen
.cOUNTY Of' ANOltA
.STATE Of' MINNESOTA
'OFFICE OF THE COUNTY AUDITOR
.CONVEYANCE OF EASEMENT OVER
~AX-FORFEITED LANDS FOR CERTAIN
PUBLIC PURPOSES
,sued Pursuant to Section 282.04, Subd. 4 of the Minnesota statutes.
THIS INDENTURE, made this
day of
, 19
,
!tween the State of Minnesota, as party of the first part, and
City of Andover.
,
lrty of the second part:
WITNESSETH:
WHEREAS, the Board of County commissioners for the County of Anoka
ld by resolution on the
day of
, 19 ___, prescribe
le terms for the conveyance of an easement for certain public purposes
fer certain tax-forfeited real property situate in the County of Anoka,
tate of Minnesota:
NOW, THEREFORE:
The undersigned County Auditor for and in behalf of the State of
innesota, for and in consideration of the sum of Ten and no/100-------------------:..
----------------------------Do11ars, in hand paid, receipt of which is hereby
.
cknowledged, does hereby grant and convey unto the party of the second
art an easement for utility
purposes over the tax-forfeited real
state situate in the county of Anoka, State of Minnesota, which easement
s described as follows:
See "Exhibit A - 87-3C/9
'"
.Said easement i. subject to th f 110wing terms:
ld such other conditions as state~ in section 282.04, Subd. 4 of th
,nnes ta Statutes.
IN TESTIMONY WHEREOF, the State of Minnesota has caused this
lsement to be executed by the County Auditor of ADoka County in th Ci ty
: ADoka, County of ADoka, and State of Minnesota, the day and year first
lOve writt n.
'Charles R. Lefebvre, County Audi~or
County of Anoka,Minnesota
BY:
Deputy County Auditor
-~-
~ATE OF MINNESOTA)
J ss.
)UNTY OF ANORA )
.-
On this
day of
, 19___, before me person~11y appear4
) me known to be the person who executed the foregoing easement in behalf
c the Stat of Minnesota and acknowledged that he executed the same as the
~ee act and deed of said state pursuant to the Statutes in such case made
ld provided.
Notary Public
lis instrume~t was drafted by:.
loka County Attorney
Z5 E. Main Street
loka, MN 55303
?proved as to form and execution:
!sistant Anoka County Attorney
~
EXHIBIT A
PARCEL NO. 87-3C/9
u
A permanent easement for utility purposes over that portion of
the following described property:
The Southeast Quarter of the Southeast Quarter of Section
27, Township 32, Range 24, Anoka County, Minnesota.
which lies within the following 40 foot strip of land, the
center line of which is described as follows:
Commencing at the northeast corner of the Southwest Quarter
of Section 27, Township 32, Range 24, Anoka County,
Minnesota; thence South 0 degrees 56 minutes 27 seconds
East, assumed bearing, along the east line of said Southwest
Quarter a distance of 141.13 feet; thence North 60 degrees
49 minutes 58 seconds West a distance of 97.70 feet to the
actual point of beginning of the line to be described;
thence South 60 degrees 49 minutes 58 seconds East a
distance of 400.49 feet; thence South 61 degrees 07 minutes
43 seconds East a distance of 518.24 feet; thence South 88
degrees 00 minutes 00 seconds East a distance of 286.95
feet; thence South 85 degrees 03 minutes 11 seconds East a
distance of 455.05 feet; thence South 41 degrees 38 minutes
22 seconds East a distance of 352.92 feet; thence South 42
degrees 03 minutes 16 seconds East a distance of 361.72
feet; thence South 43 degrees 04 minutes 36 seconds East a
distance of 282.93 feet; thence South 67 degrees 03 minutes
39 seconds East a distance of 400.21 feet; thence South 84
degrees 29 minutes 30 seconds East a distance of 140.61
feet; thence South 68 degrees 29 minutes 37 seconds East a
distance of 18.57 feet to the east line of said Section 27,
said line also being the west line of Section 26; thence
continuing South 68 degrees 29 minutes 37 seconds East a
distance of 356.79 feet; thence South 71 degrees 02 minutes
59 seconds East a distance of 350.63 feet; thence South 77
degrees 12 minutes 13 seconds East a distance of 339.34
feet; thence South 68 degrees 28 minutes 51 seconds East a
distance of 356.78 feet; thence South 63 degrees 10 minutes
05 seconds East a distance of 450.00 feet; thence South 55
degrees 31 minutes 08 seconds East a distance of 450.00
feet; thence South'89 degrees 38 minutes 57 seconds East a
distance of 896.50 feet; thence South 0 degrees 21 minutes
03 seconds West a distance of 217.13 feet to the south line
of said Section 26, said line also being the north line of
Section 35; thence continuing South 0 degrees 2~ minutes 03
seconds West a distance of 361.00 feet and said center line
there terminating.
A temporary easement for utility construction purposes to expire
September 1, 1988 60 feet in width, said easement being 30 feet
on each side of the permanent easement described above.
...
27-32-24-31-0007
Andover Com~issioner Haas-Steffen
.cOUNTY or ANOKA
.STATE OF MINNESOTA
'OFFICE OF THE COUNTY AUDITOR
CONVEYANCE OF EASEMENT OVER
TAX-FORFEITED LANDS FOR CERTAIN
PUBLIC PURPOSES
:ssued Pursuant to Section 282.04, Subd. 4 of the Minnesota Statutes.
THIS INDENTURE, made this
day of
,19
-'
>etween the State of Minnesota, as party of the first part, and
city of Andover
,
>arty of the second part:
WITNESSETH:
WHEREAS, the Board of County Commissioners for the County of Anoka
lid by resolution on the
day of
, 19 ___, prescribe
:he terms for the conveyance of an easement for certain public purposes
)ver certain tax-forfeited real property situate in the County of A~oka,
;tate f Minnesota1
NOW, THEREFORE:
The undersigned County Auditor for and in behalf of the State of
nnnesota, for and in consideration of the sum of ' Ten and no/100----------------
----------------------------oollars, in hand paid, receipt of which is hereby
.
lcknowledged, does hereby grant and convey unto the party of the second
?art an easement for
utility
purposes over the tax-forfeited real
!state situate in the County of Anoka, State of Minnesota, which easement
Ls described as follows: See "Exhibit A - C7-3B/12"
,
r'
Said easement is subject t
the f llowing terms:
1d such oth r conditions as stated in Section 282.04 ,SuM. 4 of th
~nnesota Statutes.
IN TESTIMONY WHEREOF, the State of Minnesota has caused this
1sement to b executed by the County Auditor of Anoka County in the City
: Anoka, County of Anoka, and State of Minnesota, the day and year first
)Ove written.
'Charles R. Lefebvre, County Audi~or
County of Anoka, Minnesota
BY:
Deputy County Auditor
_ r.t'-
rATE OF MINNESOTA)
) ss.
:>UNTY OF ANORA )
On this
day of.
, 19___, before me personally appear' I
,
o me known to be the person who executed the foregoing easement in behalf
f the State of Minnesota and acknowledged that he executed the same as the
ree act and deed of said state pursuant to the Statutes in such case made
nd provided.
Notary Public
'his instrument was drafted by:
,
.noka County Attorney
,25 E. Main Street
.Doka, MN 55303
~proved as to fo~ and ex cution:
,ccic+an+ annkA Countv Attorney
.<t-.~
.<
.
. -
EXHmlT A
PARCEL NO. 87-3B/12
A permanent easement for utility purposes over that portion of the following described
property located between the center line of Crosstown Boulevard and a line measured a
distance of 50 feet Southeasterly and parallel of said centerline; said property is
described as follows:
.
That part of the Northeast Quarter of the Southwest Quarter of Section 27,
Township 32, Range 24, described as follows: Commencing at the Northeast
corner of said Northeast Quarter of the Southwest Quarter, thence West along
the North line thereof for 58.6 feet and to the centerline of County State Aid.
Highway No. 18, thence South 32 degrees 55 minutes West for 550.17 feet
along said centerline, thence South 44 degrees 11 minutes West for 342.85 feet
along said centerline, thence South 45 degrees 26 minutes East for 872 feet
and to the Southeast corner of said Northeast Quarter of Southwest Quarter,
...' thence North along the East line of said Northeast Quarter of the Southwest
Quarter and to the point of commencement (subject to easement to REA and
to the easement of record, if any).
DATE: November 24. 1987
ITEMS GIVEN TO THE CITY COUNCIL
Ordinance No. lO
PLEASE ADDRESS THESE ITEMS AT THIS MEETING OR PUT THEM ON THE NEXT
AGENDA.
THANK YOU.