HomeMy WebLinkAboutVoyageur Asset Management, Inc. Pension Fund (Voyageur International Fund) Letter - 2007 04 03
V6yageur ASSET MANAGEMENT INC.
100 South Fifth Street Suite 2300
MlnneJpolis. MN 55402.1240
April 3, 2007
Mr. Kevin Smith
General Services Director
City of Winter Springs
1126 East State Road 434
Winter Springs, FL 32708-2799
Dear Mr. Smith:
This letter agreement is written in connection with your investment in the Voyageur
International Fund (the "Fund"). In connection with such investment, the City of Winter Springs
Pension Fund and Voyageur Asset Management Inc. agree as follows:
1. We understand that the City of Winter Springs Pension Fund (the "Trust Fund")
was established pursuant to Section /I.( - S / of the City of Winter Springs Code for the purpose
of providing benefits to certain municipal employees. This letter confirms that you have told us
that the Trust Fund is a public entity pursuant to Florida state law. You agree: (i) to take
reasonable steps to maintain the confidentiality of non-public information relating to the Fund
and its affairs, including its investments (collectively, the "Confidential Information"), (ii) to
promptly notify us of each request for public inspection, copying or other dissemination or
disclosure ("Disclosure") of the Confidential Information so that we may seek a protective order
or other judicial remedy seeking to prevent the Disclosure, and (iii) in the event that we do not
seek or are unsuccessful in obtaining a protective order preventing such Disclosure, to disclose
the Confidential Information solely to the extent required by Florida state law. We confirm that
any disclosure by the Trust Fund of Confidential Information in accordance with the terms of
this paragraph will not violate the provisions of the Fund's private placement memorandum or
any other agreement or instrument relating to the Fund to which the Trust Fund is a party.
2. This letter confirms that you have told us that you are a "government plan" within
the meaning of Section 3(32) of the Employee Retirement Income Security Act of 1974, as
amended ("ERISA") and that your interest in the Fund may be considered to be "plan assets"
within the meaning of ERISA. In connection therewith, we acknowledge that we are a
"fiduciary" as defined under Section 112.656(2) of Florida Statutes with respect to the Trust
Fund.
3. We agree that any action or proceeding brought by you against us alleging a
breach of our fiduciary duties shall be brought and enforced in accordance with Florida state law
governing fiduciary duties in the courts of the state of Florida, with venue in Seminole County,
and we irrevocably submit to the jurisdiction of such courts in respect of any such action or
proceeding.
S~.i
voyageur ASSET MANAGEMENT INC.
This letter may be executed in counterparts, each of which shall constitute an original but
all of which, when taken together, shall constitute one instrument.
Very truly yours,
VOYAGEUR ASSET MANAGEMENT INC.
By: ~-~
Name: (ll't[)
Title: Accepted and Agreed to:
CITY OF WINTER SPRINGS PENSION FUND
By: ;f~W1'j/I~
Name: !?OIVa. LtIJ t.J. J11 c J...c. hi g/9 ~
Title: ~ 1-v~,....,
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