EMPLOYEE PENSION PLAN INVESTMENT MANAGEMENT AGREEMENT
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January 11, 1993
Dr. Daniel J. Deignan, CPA
Finance Director and City Treasurer
CITY OP CLEARWATER, FLORIDA
112 S. Osceola Street
P. O. Box 4748
Clearwater, Plorida 33518-4748
Re: City of Clearwater, Florida Employee Pension Plan
Dear Dan:
As you are aware, Denver Investment Advisors, Inc. received approval from the
Comptroller of the currency in June of 1984 and was incorporated in July of 1984 as
a wholly-owned subsidiary of First Interstate Bank of Denver.
Denver Investment Advisors is managing assets for the City of Clearwater Plorida
Employee Pension Plan under the Investment Management Agreement dated July 1,
1982, between your organization and First Interstate Bank of Denver (formerly
known as IntraWest Bank of Denver, and First National Bank of Denver).
Denver Investment Advisors as a wholly-owned subsidiary of First Interstate Bank
of Denver has acknowledged in the July 1, 1982 Investment Management Agreement
under Section 6 - Fiduciary and Other Responsibilities that it is an investment
manager as defined in Section 3 (38) of ERISA and, as required thereunder,
represents that it is bank as defined under the Investment Advisors Act of 1940 and
that it will maintain such status during the terms of the agreement.
As a result of a recent review of the Investment Management Agreement dated July
1, 1982, Denver Investment Advisors would like to formally acknowledge two
statements by both parties of the original agreement and to have these statements
made part of the July 1, 1982 agreement. The statements on the following page were
not reflected in entirety in the agreement of July 1, 1982.
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Dr. Daniel J. Deignan, CPA
January 11, 1993
page 2
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The Investment Manager has been appointed under Section 402(c)(3) of
ERISA and the Investment Manager, and the Investment Manager's actions
hereunder, shall at all times be subject to the entirety of such Act.
Denver Investment Advisors has also acknowledged it is an Investment
Manager as defined in Section 3 (38) of ERISA and, as required thereunder,
represents that it is an Investment Advisor as defined under the Investment
Advisors Act of 1940 and is registered as an Investment Advisor with the U.
S. Securities and Exchange Commission, and that it will maintain such status
during the terms of the Agreement.
ASSIGNMENT
The Agreement between City of Clearwater, Florida and Denver Investment
Advisors, Inc., dated July 1, 1982 may not be assigned by either party
except with the prior written consent of the other party.
Cl&:IA- ~ I r'ff
Acknowledged and approved this Hth day of . AWN)', t99Y by duly authorized
officers and their corporate seals to be hereunto affixed as of the date first above
written.
A TrEST:
~ C. A D.
Y tlaE. Goudeau
City Clerk
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.-'Caleb 1:., -Ga~' , Jr. I
-V.ice Presidegtand Secretary
By:
Title:
DENVER INVESTMENT ADVISORS, INC.
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Vice President and Portfolio Manager
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By:
Title: