§ 42. Definitions. For the purposes of this article, the following terms shall have the following meanings: 1. “Cooperative investment agreement” shall mean the temporary investment of moneys by more than one municipal corporation pursuant to a municipal cooperation agreement entered into in accordance with the provisions of article five-G of this chapter and this […]
§ 43. Required elements of a cooperative investment agreement. Every cooperative investment agreement shall contain, at a minimum, the following: 1. a description of the creation, membership, powers and responsibilities of the governing board of the cooperative investment agreement as set forth in sections forty-four and forty-five of this article. 2. a statement designating one […]
§ 44. Governing board; creation and membership. 1. Every cooperative investment agreement shall be administered by a governing board. The numerical membership of the board shall be not less than ten percent of the total number of participants in the agreement as of April first each year; provided, however, that in no event shall the […]
§ 45. Governing board; powers and responsibilities. The governing board of a cooperative investment agreement shall have the following powers and responsibilities: 1. administering all aspects of the agreement; 2. entering into those contracts deemed appropriate to assist in the management of the agreement; 3. where authorized under the agreement: (a) delegating the daily responsibilities […]
