In carrying out their duties and responsibilities hereunder and except to the extent they have delegated their powers to an Investment Manager as provided in § 32.031, the Trustees are authorized in their sole and absolute discretion to exercise all of the following powers and all other powers reasonably to be implied therefrom or necessary for the proper exercise thereof so long as their actions are consistent with the plan and ERISA:
(A) The Trustees may invest and reinvest the assets of each investment fund, and collect the income therefrom, and sell, exchange, convey, transfer or otherwise dispose of any property held at public or private sale, and grant options with respect to any such property, all upon such terms as they shall determine;
(B) The Trustees may vote in person or by proxy any stocks or other securities at any time held by them and may delegate discretionary power to any proxies designated by them. They may exercise any privilege, option or right appurtenant to any stock, securities or other property held hereunder, either in person or by general or limited proxy or power of attorney;
(C) The Trustees may borrow money with or without interest for the purposes of the trust from others and may issue promissory notes as Trustees and secure the repayment thereof by pledging any securities or other property in their possession, on such terms as they shall determine;
(D) The Trustees may hold securities in bearer form and may register securities held by them hereunder in their own names, or in the name of a nominee without the addition of words indicating that such securities are held in a fiduciary capacity;
(E) The Trustees may make, execute and deliver, as Trustees, any and all instruments that the Trustees may deem necessary or advisable in connection with their duties hereunder;
(F) The Trustees may prosecute, defend, compromise or settle any and all claims and demands by or against the Fund on such terms as the Trustees, in their sole discretion, deem appropriate; provided, however, that the defense, compromise or settlement of any claims by a participant or beneficiary for benefits under the plan shall be as directed by the Committee or Plan Administrator; and
(G) The Trustees may incur reasonable expenses in connection herewith and may employ suitable agents, representatives, accountants and legal counsel (who may be counsel for the employer) and pay their reasonable compensation and expenses.
(Ord. MET 86-13, passed 5-30-1986)