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ii. to pay or provide for the payment of reasonable and necessary expenses of administering <br /> Group Employee Benefits and Other Financial and Risk Management Services including, <br /> without limitation, all expenses which may be incurred in connection with the <br /> establishment and administration of Pools,the employment of administrative, legal, <br /> accounting,other expert and clerical assistance,the leasing of such premises and the <br /> purchase of lease materials, supplies,equipment,and liability and property insurance; <br /> iii. to establish and accumulate funds deemed adequate by the Trustees to carry out the <br /> purpose of the Pools,for example,for purposes of rate stability and risk reserve; <br /> iv. to pay any federal, state or local income, employment,death or other tax which may be <br /> properly imposed on or levied against Group Employee Benefit,Other Financial and Risk <br /> Management Service,a Pool, or on benefits paid therefrom; <br /> v. to pay for any bond and to pay the premiums on any insurance purchased by a Pool, <br /> including,but not limited to liability insurance,"stop loss"insurance and other insurance <br /> intended to pay directly or indirectly the benefits established with respect to a Pool; and <br /> vi. to pay the SC any service fee payable to it pursuant to,or authorized pursuant to,this <br /> Agreement. <br /> 6.3 Investment of Program Funds. Program Funds shall be held and invested in a manner that is <br /> consistent with any applicable legal requirements regarding the holding and investment of funds by the <br /> Participant Members who are governmental units within the meaning of Minn. Stat.471.59. <br /> 6.4 Withdrawal of Participant Member. In the event of the withdrawal of a Participant Member <br /> prior to the termination of this Agreement or of a Pool, Program Funds attributable to contributions of <br /> such Participant Member shall not be returned to such Participant Member. <br /> 6.5 Termination of Pool. In the event of termination of a Pool,any portion of the Program Funds <br /> that has been designated for use solely in connection with the terminating Pool,and any other portion <br /> allocated to the terminating Pool by the Trustees in its sole discretion, shall be distributed to the Pool <br /> Participant Members in a manner to be determined by the Trustees,which may include the following: <br /> i. payment of benefits to or on behalf of enrolled employees with respect to claims <br /> arising prior to such termination; <br /> ii. provision of similar benefits for such employees; <br /> iii. payment of reasonable and necessary expenses incurred in such termination. <br /> iv. payment of taxes; and <br /> v. cash payments to Participant Members according to a formula established by the <br /> Trustees and adopted in the by-laws. <br /> Upon such termination,the Trustees shall continue to serve for such period of time and to the extent <br /> necessary to carry out the directions of the preceding sentence. The Participant Members who receive <br /> such distributions shall be solely responsible for determining whether,and to what extent, any amounts <br /> they receive will be distributed to individuals who were covered by benefit programs provided by the <br /> terminating Pool. <br /> 12 <br /> Rev. 7/2015 <br />