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TOWN OF TRUCKEE <br /> California <br /> <br /> RESOLUTION NO. 2003-36 <br /> <br /> A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TRUCKEE <br /> AUTHORIZING THE TOWN OF TRUCKEE TO JOIN WITH OTHER PUBLIC <br /> AGENCIES AS A PARTICIPANT OF THE CALIFORNIA ASSET MANAGEMENT <br /> TRUST AND TO INVEST IN SHARES OF THE TRUST AND IN INDIVIDUAL <br /> PORTFOLIOS. <br /> <br /> WHEREAS, Section 6502 of Title 1, Division 7, Chapter 5 of the Government <br />Code of the State of California (the "Joint Exercise of Powers Act") provides that, if <br />authorized by their legislative or other governing bodies, two or more public agencies by <br />agreement may jointly exercise any power common to the contracting parties; and <br /> <br /> WHEREAS, under Section 6500 of the Joint Exercise of Powers Act, a "public <br />agency" includes but is not limited to any California county, county board of education, <br />county superintendent of schools, city, city and county, public corporation, public district, <br />regional transportation commission or state department or agency; and <br /> <br /> WHEREAS, public agencies which constitute local agencies, as that term is <br />defined in Section 53630 of Title 5, Division 2, Part 1, Chapter 4, Article 2 of the <br />Government Code of the State of California (the "California Government Code"), are <br />authorized pursuant to Section 53601 and/or 53635 thereof to invest all money <br />belonging to, or in the custody of, the local agency in certain specified investments; and <br /> <br /> WHEREAS, the California Asset Management Trust (the "Trust") was <br />established, pursuant to and in accordance with the Joint Exercise of Powers Act, by a <br />Declaration of Trust, made as of December 15, 1989 and as subsequently amended <br />(the "Declaration of Trust"), as a vehicle for public agencies to jointly exercise their <br />common power to invest bond proceeds and other funds; and <br /> <br /> WHEREAS, pursuant to and in accordance with the Joint Exercise of Powers <br />Act, the Public Agency desires to join the other public agencies which are or will be <br />Participants of the Trust by adopting and executing the Declaration of Trust, a form <br />which has been presented to this meeting; and <br /> <br /> WHEREAS, the Public Agency is a public agency as that term is defined in the <br />Joint Exercise of Powers Act and a local agency as that term is defined in Section <br />53630 of the California Government Code; <br /> <br /> WHEREAS, the Public Agency is otherwise permitted to be a Participant of the <br />Trust and to invest funds in the Trust and in the Individual Portfolios to be managed by <br />the Investment Adviser to the Trust ("Individual Portfolios"); and <br /> <br /> WHEREAS, there has been presented to this meeting an Information Statement <br />describing the Trust and the Individual Portfolios (the "Information Statement"); <br /> <br /> <br />