Upon execution of the agreement by the borough, each officer and employee of the borough who is designated to be responsible for the investment of public funds of the borough pursuant to the Haines Borough Code is authorized to transfer public funds of the borough to the corporation for placement in the Alaska Municipal League investment pool (“pool”) created through the agreement in order to acquire an interest in any series of it; provided, that such funds will be invested in accordance with the terms of the agreement and the investment policies as set forth in the agreement and its exhibits. All such transfers shall be made in accordance with the procedures previously adopted by the borough as may be amended from time to time.