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

 

WEST MIFFLIN SANITARY SEWER MUNICIPAL AUTHORITY: Albert J. Kopay, Jr., Chairman                                          

 

 

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