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AGREEMENT AND DECLARATION OF TRUST THIS AGREEMENT AND DECLARATION OF TRUST is made and entered into as of December 1, 1991, by and among Brevard County, Hernando County, Manatee County and Orange County, as the initial participants of the Florida Counties Investment Trust (the "Initial Participants") and Robert L. Anderson, Scott I. Cowan, Martha O. Haynie, Karen Nicolai, Richard B. Shore and Terry R. Wood, as the initial Trustees of the Florida Counties Investment Trust (the "Initial Trustees"). W I T N E 8 8 E T Hs WHEREAS, it furthers the public interest for public entities to invest any monies not immediately required to be disbursed and to maximize the net earnings on such funds; and WHEREAS, the Initial Participants each desire to enter into a trust agreement and thereby establish one or more investment funds (each referred to herein as an "Investment Fund") for pooling their surplus funds for joint investment in accordance with the provisions of this Agreement and Declaration of Trust (the "Agreement"); and WHEREAS, each of the Initial Participants has duly taken all official action necessary and appropriate to become a party to this Agreement; and WHEREAS, it is the desire and intent of the Initial Trustees to serve in the capacity of trustees of the Florida Counties Investment Trust for the purpose of operating, managing and maintaining the assets and liabilities thereof; and WHEREAS, it is the intent and purpose of this Agreement to invest the pooled funds only in the manner authorized by applicable law; and WHEREAS, it is proposed that the beneficial interest of any Participant hereunder in the assets of any Investment Fund created pursuant to the provisions of this Agreement shall be divided into non -transferable shares of beneficial interest, which shall be evidenced by share registers maintained by or on behalf of the Trustees; and