[HISTORY: Adopted by the Board of Supervisors of Scott Township
as indicated in article histories. Amendments noted where applicable.]
[Adopted 8-31-1982 by Ord. No. 1-1982]
This municipality shall join with other municipalities in accordance
with the Pennsylvania Intergovernmental Cooperation Act[1] by becoming a settlor of the Pennsylvania Local Government
Investment Trust (the "Trust") and entering into the Declaration of
Trust, which is adopted by reference with the same effect as if it
had been set out verbatim in this section, and a copy of which shall
be filed with the minutes of the meeting at which this article was
adopted.
[1]
Editor's Note: See now 53 Pa.C.S.A. § 2301
et seq,
This municipality is authorized to purchase shares in the Trust
from time to time with available municipal funds and to redeem some
or all of those shares from time to time as funds are needed for municipal
purposes. These actions are to be taken by the officers designated
for this purpose, pursuant to general or specific instructions by
the governing body adopting this article.
The Trustees of the Trust are designated as having official
custody of this municipality's funds which are invested by the
purchase of shares in the Trust.
As required by the Intergovernmental Cooperation Act, the following
matters are specifically found and determined:
B.
This municipality's participation in the Trust shall be terminable
at any time by ordinance.
C.
The Declaration of Trust and the purchase of its shares are for the
purpose of investing this municipality's funds in obligations
which are otherwise legal investments as part of a pooled arrangement
with other governmental units, thereby achieving economic and other
advantages of pooled investments.
D.
It is not necessary to finance the agreement authorized herein from
municipal funds except through the purchase of shares in the Trust.
E.
The Trust shall be managed by a Board of Trustees as set forth in
the Declaration of Trust and the bylaws provided therein.
F.
Shares may be purchased and redeemed from time to time as this municipality
may determine to be necessary or appropriate to meet its cash investment
requirements.
[Adopted 2-18-2015 by Ord. No. 2-18-2015]
A.
The Board of Supervisors adopts the Restated Trust Agreement and
agrees to participate in the Trust in accordance with the amended
and updated terms of the Restated Trust Agreement, and the Chairman
of the Board of Supervisors and Secretary of the Township are hereby
authorized to sign the Restated Trust Agreement and any other agreements
necessary for the Township's participation in the Trust.
B.
The Restated Trust Agreement is on file for inspection and review
at the Township's offices at 350 Tenny Street, Bloomsburg, PA
17815. The Restated Trust Agreement may be subsequently modified or
amended in accordance with its terms, but in no event shall such modifications
or amendments divert any of the trust funds from the purposes of the
Trust. The Township may withdraw from the Trust in accordance with
the Restated Trust Agreement, including if the Board of Supervisors
determines the modifications or amendments are not in the best interests
of the Township.
The participation of the Township in the Trust is authorized
for the purpose of pooling resources for the purpose of providing
unemployment compensation insurance for participating employers at
reasonable cost.
As set forth in greater detail in the Restated Trust Agreement
and as otherwise stated herein, the following conditions apply to
the participation of the Township in the Trust:
A.
That each participating employer must meet the admission and eligibility
requirements set forth therein;
B.
That each participating employer agrees to pay all contributions
when due as provided in the Restated Trust Agreement or as otherwise
established by the Board of Trustees; and
C.
That each participating employer complies with all other conditions
of the Restated Trust Agreement.
The Township agrees to participate in the Trust and may withdraw
for any reason and in accordance with the Restated Trust Agreement,
provided that it has fulfilled all its financial obligations to the
Trust upon withdrawal.
The effective date of the Township's agreement to and joinder
in the Restated Trust Agreement and the participation of the Township
in the Trust pursuant to the terms of the Restated Trust Agreement
will be February 18, 2015.
Each participating employer delegates to the Board of Trustees
the powers enumerated in the Restated Trust Agreement.
The organizational structure of the Trust shall consist of a
board of trustees. Under the Restated Trust Agreement, the Board of
Trustees is authorized to, among other things, enter into contracts
with third parties to perform various services necessary for the administration
of the Trust.
The funds required for the operation of the Trust shall be provided
by the participating employers through scheduled appropriations as
determined by the Board of Trustees.
The Trust is empowered to enter into contracts for policies
of group insurance and employee benefits, including social security,
for employees of the Trust, if any.
As a condition of participating in the Trust, the Township agrees
to comply with all of the terms and conditions in the Restated Trust
Agreement.
The Secretary of the Township shall provide a certified copy
of this article upon its enactment to the Board of Trustees of the
Trust.
The Board of Supervisors and Secretary of the Township are hereby
authorized to take any and all such other actions as may be necessary
or appropriate to carry out the purposes of this article and comply
with the requirements of the attached Restated Trust Agreement and
any duly adopted amendments thereto.
The duration of the term of the Township's participation
in the Trust and obligations under the Restated Trust Agreement shall
continue until withdrawal from the Trust by the Township in accordance
with the terms of the Restated Trust Agreement.
The Board of Supervisors hereby specifically finds and determines
as follows:
A.
The conditions of the intergovernmental cooperative agreement are
set forth in the Restated Trust Agreement incorporated by reference
herein.
B.
The Township shall participate in the Trust in accordance with the
Restated Trust Agreement until it withdraws by giving notice to the
Board of Trustees in accordance with the terms of the Restated Trust
Agreement.
C.
The purpose and objectives of the intergovernmental cooperative arrangement,
including powers and scope of authority delegated to the Board of
Trustees, are set forth in the incorporated Restated Trust Agreement.
D.
The manner and extent of financing of the agreement are that: (1)
funds to implement the Township's obligations under the agreement
shall come from the normal and usual budgeted amounts for Township
employee compensation and employee benefits; and (2) no borrowing
is anticipated to be required.
E.
The Trust shall be managed by the Board of Trustees pursuant to the
terms of the Restated Trust Agreement.
F.
All assets and property, real or personal, of the Trust shall be
titled to, acquired, managed, licensed or disposed of by the Trust
and its Board of Trustees in accordance with the terms of the Restated
Trust Agreement.
G.
The Trust, in accordance with the Restated Trust Agreement, shall
be empowered to enter into contracts for policies of group insurance
and employee welfare benefits to be offered to participating employers
for their eligible employees and dependents.
