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HomeMy WebLinkAboutBank of New York Authorization and Direction to Invest -1996 05 08 AUTHORIZATION AND DIRECTION TO INVEST NATIONS FUND & NATIONS INSTITUTIONAL RESERVES FUND ./ :COUNT NAME: ./ Winter Sprfngs Impr ;Rev 89 Resv ;REEMENT (Description): Bond 'Resolution :COUNT NUMBER: rND CHOICE: Nations Treasury Fund Class B ese instructions supersede any previous instructions which pertain to the investment of cash in the above-referenced account ("Account"). DIRECTION e Bank of New York (the "Bank") is hereby authorized and directed to invest any available cash in the Account in shares of the above erenced fund (the "Fund") and to redeem shares of the Fund to meet the cash requirements of the Account. The undersigned may, from Ie to time, direct the Bank in writing to redeem and exchange shares of the Fund for shares of or to invest available cash or the proceeds tm- any redemption in, another eligible investment and the Bank shall comply with such direction. The undersigned represents and lrrants to the Bank that it is authorized and empowered to direct the Bank to make the investment specified herein and that the investment thorized herein is an eligible investment. tOSPECTUS: The undersigned has read the Prospectus of the Fund and has independently made the detennination to direct the Bank to ,vest available cash in the Account in shares of the Fund. The undersigned understands that the Fund is not an obligation of, or :ommended, endorsed or guaranteed in any way by, the Bank, its affiliates or any other bank; that the Fund is not insured by any agency or itrumentality of the United States, such as the Federal Deposit Insurance Corporation; and that investments in ,the Fund may be subject to vestment risks, including possible loss of the principal amount invested. The undersigned further understands that neither Bank nor its filiates has participated in the preparation of the Prospectus or is responsible for its content. ERIODIC STATEMENTS: The undersigned agrees that transactions in the Fund will be reported only in the Bank's regular periodic -counting. OTING SHARES: The undersigned assumes the obligation and retains the right to vote all shares of the Fund held by the Bank for the :nefit of the Account. f-lAREHOLDER SERVICES FEES: The undersigned acknowledges that the Fund is authorized to make payments from its management e or any other sourc.e available to parties such as banks or broker-dealers ("Service Organizations") that provide shareholder support :rvices to the Fund and that Service Organizations currently are compensated at a rate of up to the Maximum Rate of .25% annually of the lerage net assets of each Fund with respect to which they provide or have provided shareholder support services. The undersigned further :knowledges that the Bank is a Service Organization and is paid, and hereby consents to such payment, by the Fund up to the Maximum ate annually Of the average daily balance of the Account invested in the Fund for shareholder support services rendered to the Fund by the ank, which services may include, without limitation, answering clients inquiries regarding the Fund, assistance to clients in changing ividend options, account designations and addresses, processing purchase _and redemption transactions, providing periodic statements lowing a client's account balance and the integration of such statement with other transactions, arranging for bank wires, and providing Jch other infonnation and services as the Fund's distrib'utor or the undersigned reasonably may request. The undersigned further :knowledges that such services may be the same as or similar to services provided by the Bank for which a fee may be separately charged nder the Agreement. The undersigned further acknowleoges that the Fund may purchase securities from or through the Bank or its ffiliates, may engage in repurchase transactions with Bank or its affiliates, may place funds on deposit in accounts with the Bank or its ffiliates and receive interest income thereon and may obtain other services from the Bank for which the Bank is paid a fee. 'his Authorization and Direction to Invest is executed; acknowledged and consented to at Winter Spri ne .Fl.q on') / R /qfi 'ignatn", /~~ ~--= lame: Ronald W. McLemore City State Date l'itle: City Manager ,UTINVST,DOC 4/96