DENALI BOROUGH, ALASKA

RESOLUTION NO. 94-28

A RESOLUTION OF THE ASSEMBLY OF THE DENALI BOROUGH PERTAINING TO THE DENALI BOROUGH PERMANENT INVESTMENT FUND.

WHEREAS, the Denali Borough Permanent Investment Fund was created

by the people of the Denali Borough to provide for the long term investment of funds; and

WHEREAS, the safety of capital as well as future income is of utmost importance; and

WHEREAS, the Assembly is required by Borough Code to establish a

formal Resolution for the management of the Denali Borough Permanent Investment Funds; and

WHEREAS, the Assembly has selected National Bank of Alaska as custodian of the Permanent Investment Funds and Dean Witter as investment advisor of the Permanent Investment Funds;

AND WHEREAS, the Borough Code sets forth investment policies.

NOW THEREFORE BE IT RESOLVED: that the Denali Borough Assembly adopts Dean Witter as investment advisor and National Bank of Alaska as custodian of the Permanent Investment Funds as outlined per Chapter 19 in the Denali Borough Code of Ordinances.

PASSED and APPROVED by the DENALI BOROUGH ASSEMBLY this 13th

day of November, 1994.

SIGNATURE ON FILE

Mayor

ATTEST: SIGNATURE ON FILE

Borough Clerk