Approval of Renewal of Fidelity Bond
WHEREAS,
the Board has determined that it is in the best interests of the Trust to renew the Fidelity Bond covering the Funds against larceny and embezzlement by, among others, officers and employees of the Funds, in accordance with the requirements of Rule 17g-1 under the 1940 Act;
NOW, THEREFORE, IT IS RESOLVED,
that the form, terms and provisions of the Fidelity Bond issued by Chubb-Federal Insurance Company, or such other reputable provider with similar coverage selected by the appropriate officers at a cost not more than that of Chubb-Federal Insurance Company, with a term of April 6, 2013 to April 6, 2014, naming the Trust on behalf of each Fund as the insured party (the “Insured Party”), in substantially the form discussed at this meeting, with such changes as the officers of the Trust, with the advice of counsel to the Trust, deem necessary or appropriate, such changes to be conclusively evidenced by the Fidelity Bond as executed by such officers, be and they hereby are, approved by the entire Board and by a separate vote of a majority of the Independent Trustees; and it is
FURTHER RESOLVED,
that the amount of the Fidelity Bond as discussed at this meeting is reasonable, giving due consideration to all relevant factors including, but not limited to, the value of the actual and projected aggregate assets of the Trust, the type and terms of the arrangements made for the custody and safekeeping of such assets, the nature of the securities in or expected to be in the Trust’s portfolios, and the total amount of coverage and the premiums under the Fidelity Bond as determined by the entire Board of Trustees, and by a separate vote of a majority of the Independent Trustees; and it is
FURTHER RESOLVED,
that subject to the ratification of the Board, the officers of the Trust be, and hereby are, authorized to increase the amount of such Fidelity Bond as may be necessary to satisfy the requirements of Rule 17g-1(d) under the 1940 Act; and it is
FURTHER RESOLVED,
that the officers of the Trust be, and each of them hereby is, authorized, empowered, and directed to make the filings and give the notices required by Rule 17g-1 under the 1940 Act, and to make any other filings necessary or advisable in connection with the Fidelity Bond and to take all actions deemed necessary or advisable to carry out the intent of the forgoing resolutions.
PREMIUM STATEMENT
The premium for the period April 6, 2013 to April 6, 2014 has been paid in the amount of $2,760.00 on April 16, 2013.