The duration of the term of the agreement is
annually based upon the Pooled Trust's fiscal year.
The purpose and objectives of the agreement are set forth in Article
V of the agreement.
The powers and scope of authority delegated are set forth in Articles
II,
V,
VI, VIII and IX of the agreement.
The funds for meeting the obligations of the
political subdivision under the agreement shall be appropriated from
the general funds of the political subdivision.
The organizational structure necessary to implement
the agreement consists of the trust, trustee, service agents and fiscal
agents created by the agreement.
Property acquired for purposes of the trust
shall be acquired, managed and disposed of under the terms of the
attached Trust Agreement.
The trust shall be empowered to enter into contracts
for policies of group insurance and employee benefits, including social
security for its employees.