[Adopted 1-8-2001 by Ord. No. 323 (Ch. 1, Part 11, of the
1993 Code)]
Upper Pottsgrove Township (hereinafter referred
to as "the Township") shall join with all other local governments
in the Commonwealth of Pennsylvania in accordance with the Pennsylvania
Intergovernmental Cooperation Law,[1] upon such terms and conditions as are more fully set forth
in the attached agreement,[2] a signed copy of which shall be filed with the minutes
of the meeting at which this article is adopted. The appropriate Township
officers are authorized to execute the agreement and any subsequent
amendments thereto, on behalf of the Township.
The duration of the agreement shall be for a
period of three years with automatic renewal for one-year periods.
The purpose of this agreement is to permit the
State Treasurer to invest the funds of the Township, with the objectives
of safety of principal, liquidity and high yield consistent with sound
investment strategy.
The Treasurer of the Commonwealth of Pennsylvania
shall serve as the investment manager under the terms of the agreement.
The Township is permitted to purchase and redeem
shares that in turn are pooled with other local government shares
to acquire and sell certain investment securities at a rate of $1
per share.
A.
Any one of the following individuals shall be authorized
to make deposits and withdrawals, establish accounts and to perform
such other duties as are necessary or appropriate for participation
as an invest member:
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Township Manager
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(610) 323-8675
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Township Secretary
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(610) 323-8675
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Accountant
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(610) 323-8675
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B.
The persons authorized to make deposits and withdrawals
and perform other necessary functions may be modified from time to
time by resolution of the Board of Commissioners.
