RESOLUTION
NO. 102-07
A RESOLUTION OF THE WEST MIFFLIN SANITARY SEWER MUNICIPAL
AUTHORITY,
ALLEGHENY COUNTY, PENNSYLVANIA AUTHORIZING THE GENERAL MANAGER OF THE AUTHORITY TO TAKE ALL
ACTIONS NECESSARY TO TERMINATE THE INVESTMENT CONTRACT OF THE RETIREMENT PLAN
TRUST CURRENTLY
HELD WITH THE PENNSYLVANIA MUNICIPAL AUTHORITIES ASSOCIATION AND
AUTHORIZING THE TRANSFER OF ALL PENSION PLAN ASSETS TO THE DIRECTION OF US
ASSET MANAGEMENT, LLC.
WHEREAS,
it is deemed in the best interest of the West Mifflin Sanitary Sewer Municipal Authority Pension Plan to terminate its current
investment contract with Pennsylvania Municipal
Authorities Association; and
WHEREAS,
it is deemed in the best interest of the West Mifflin Sanitary Sewer Municipal Authority Pension Plan to transfer the Plan
assets so that all assets are under the
direction of US Asset Management, LLC.
NOW,
THEREFORE, BE IT RESOLVED by the Board of the West Mifflin Sanitary
Sewer Municipal Authority that the General Manager is authorized to take all actions necessary to terminate the current
investment contract held between West Mifflin Sanitary Sewer Municipal Authority Pension Plan and Pennsylvania
Municipal Authorities Association
and, further, to transfer all assets of the Pension Plan to be under the
direction of US Asset Management, LLC
including such modifications as may be necessary or helpful to the
associated documentation and agreements including the Investment Policy Statement, Custody Agreement, Investment Advisor
Agreement, broker dealer arrangements
and the like to facilitate the above transfer.
ADOPTED this 1st
day of March,
2007.
ATTEST:
Leah Mangino, Secretary
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