Town of Hertford  Regular Session Meeting (In Person/Facebook) Monday, September 12, 2022 - 6:00 p.m. Horace Reid Community Center, 305 W Grubb Street  The Council of the Town of Hertford held a Regular Session Meeting at the Horace Reid Community Center (also on Facebook) on Monday, September 12, 2022, at 6:00 pm.  COUNCIL MEMBERS PRESENT Mayor Earnell Brown Jerry Mimlitsch Connie Brothers STAFF PRESENT Gina Durante, Town Clerk John Leidy, Attorney A quorum was present. CALL TO ORDER  Ashley Hodges, Mayor Pro Tem Sandra Anderson  Janice McKenzie Cole, Interim Town Manager  Mayor Brown called the meeting to order. INVOCATION AND PLEDGE OF ALLEGIANCE  The invocation was led by Councilwoman Anderson, followed by the Pledge of  Allegiance.  APPROVAL OF AGENDA  Mayor Brown asked for a motion to approve the agenda as presented. Councilman Mimlitsch made a motion to approve the agenda and Councilwoman Anderson seconded the motion. The motion to approve the agenda passed unanimously with the  following vote: Councilwoman Anderson aye Councilman Mimlitsch Councilwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown  aye aye  CONSENT AGENDA  Mayor Brown asked for a motion to approve the consent agenda accepting the minutes from 8/8/2022 Regular Session, the 8/22/2022 Work Session, 7/12/2021 Regular Session, 8/9/2021 Regular Session, approval of Hertford CERRI, and approval of the ordinances of street closures for 10/28 Trunk or Treat, 12/2 Grand Illumination and 12/3 Christmas Parade. Councilwoman Anderson made a motion to approve the consent  Septermber12,2022 Regular Session Minutes    agenda and Councilman Mimlitsch seconded the motion. The motion passed  unanimously with the following vote: Counciwoman Anderson aye Councilman Mimlitsch Councilwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown CITIZENS CONCERNS  aye aye  Jennifer Byrum spoke before Council representing her director and the administration staff of the Landings of Albemarle. They wanted to thank Council, Mayor, Hertford Fire Department, PC Sheriff's Department, EMS for the prompt service that is provided to the Landings and extra security when needed. They have spent time talking to the residents and that brightens their day as well as getting the team certified. Ms. Byrum invited Council, those attending, and those watching to the Landings on Wednesday, September 14th, toi the Western Party at 5-7PM for their residents. All are welcome. Karen VanOverbergh, a local business owner and Albemarle Plantation resident, began by commending Council and others for all the activities that have occurred this summer. Ms. VanOverbergh attended the PZBOA last month and is working the Manager Cole and members of the community to define the parking requirements and rules for apartments she is constructing in a downtown building, as well as for other owners of local apartments and Airbnbs. Where are the appropriate spots to be located and how many spots are required for a one-bedroom versus a two-bedroom unit? Council will Yvonne Brown thanked Council for the work at the roadside cemetery and the installation of "Children at Play" signs on Dobbs Street. Ms. Brown stated that speed bumps are still needed on Dobbs Street between the red light and the school. Drivers are not reading the signs and a speed bump would slow down the vehicles that drive on  reply within 30 days to Ms. VanOverbergh's questions.  Dobbs too fast.  CONTINUED BUSINESS  None  NEW BUSINESS New Events needed.  Mayor Brown asked Manager Cole to address New Business.  There will be a movie night in Central Park on October 8th. No street closures are  Septermber 12, 2022 Regular Session Minutes  2    On October 15, Open Door Pantry is hosting a parade/walk from the library to the S- Bridge and back to bring awareness to the food bank and the need for food in the town. Also on October 15th, is a Halloween Community Event on Dobbs Street from 7-11PM. This event will require a road closure, and Council members have the ordinance in their Mayor Brown asked for a motion to pass the ordinance for the street closures on October 15 for the Halloween Community Event. Mayor Pro Tem Hodges made the motion and Councilwoman Brothers seconded the motion to approve the street closure.  No street closures are needed as walkers will use the sidewalks.  packet.  The motion passed unanimously with the following vote:  Counciwoman Anderson aye Councilman Mimlitsch Counciwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown  aye aye  Transferring Funds to Capital Management  The town currently has money in FNB and in PNC. The bulk of the town's money is in PNC and earning no interest. Approximately $400,000 is at FNB in a money market with 1.75% interest. The banks do give us credits which offset the bank fees. Capital Management Trust is certified by the Local Government Commission. The interest on their money market currently is 2.23% and could be as high as 3% by the end of the month, based on the increase in interest rates anticipated by the Federal Reserve. We can get our money out the same day when we need it; there may be a wire fee charged by our banks for a same day wire transfer or no charge if we request it to be sent to us. Manager Cole is recommending leaving no more than $500,000 each in FNB and PNC and transfer the rest to Capital Management Trust. Three pages of information about Mayor Brown asked for discussion. Councilman Mimlitsch asked if, like mutual funds, could we lose money. Manager Cole said there are no guarantees, but it would be invested in government money markets, not mutual funds. She also said the money would not be FDIC insured like money is in a bank. She stated that there is security in the investments because the money is invested in US government securities and/or repurchase agreements that are fully collateralized. Councilman Mimlitsch expressed that he still has concerns, but also doesn't want the money not earning any interest. Manager Cole advised him that additional information is available online. Mayor Pro Tem Hodges stated that he had looked at this with manager Cole and this is the recommendation of the former interim finance director and the prior finance directors. The Capital Management Trust is set up by the state. Nothing is risk free, but this is the place where local and county governments put their long-term fund balances to gain interest. It is not stock based but rather low risk government funds, as Manager Cole stated. Each million would earn approximately $22,000 in interest each year, ata conservative rate, and we are currently getting no interest. Earning that interest is more advantageous to our citizens who could face tax rates and utility increases. Mayor Pro  Capital Management Trust are attached.  Septermber 12, 2022 Regular Session Minutes  3    Tem Hodges has researched this and supports Manager Cole's recommendation to transfer funds to Capital Management Trust and keep $500,000 in both FNB and PNC. Mayor Brown asked if there were constraints or limitations on how long the money needed to bei invested with Capital Management Trust before any funds could be withdrawn. Manager Cole answered no. Mayor Brown, like Councilman Mimlitsch, also expressed concern for losing money when the market takes a downward turn but agrees that the money should be transferred to a fund where it is earning interest. Councilman Mimlitsch asked if Council could be given quarterly performance reports on our investment. Manager Cole said yes. Mayor Brown asked if there is a tax liability on the dividends for the town since we are a government entity investing in government funds. Manager Cole stated that there is not a tax liability on the dividends that she is Mayor Brown asked for a motion and Mayor Pro Tem Hodges made the motion to move forward with transferring of funds to Capital Management Trust and keeping approximately $500,000 in PNC and FNB as recommended by Manager Cole. Councilwoman Brothers seconded the motion and it passed unanimously with the  aware of.  following vote: Councilwoman Anderson aye Councilman Mimlitsch Councilwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown  aye aye  Resolution Exempting NCAgr STRAP Grant from Mini-Brooks  Manager Cole explained that the Town is not required to issue an RFQ for engineering services for grants that are less the $50,000. The School of Government recommends that Council pass a resolution exempting us from the Mini-Brooks Act. Mayor Pro Tem Hodges stated that it is constructive to vocalize how we expect this to work and why this is a good choice. He said that we still make every attempt to get multiple bids as we are not restricted from doing sO by this exemption. Council will Mayor Brown asked for a motion to approve the resolution. Councilman Mimlitsch made the motion and Councilwoman Anderson seconded. The motion passed unanimously  approve contracts publicly and be transparent to the community.  with the following vote: Counciwoman Anderson aye Councilman Mimlitsch Counciwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown PFAS Cost Recovery Program  aye aye  Manager Cole gave Council a letter explaining why the NC Rural Water Association is recommending that we register our municipality to participate in the cost recovery action. The national organization has selected the law firm of Napoli Shkolnik PLLCto  Septermber 12, 2022 Regular Session Minutes  4    handle this matter. The firm has sent a proposed retainer agreement which our attorney, Council discussed PFAS (polyfluoroalkyl substances) in our water and that the EPA will require us to test for this. The law firm identified will cover the action of filing for recovery of costs we will incur. There are. zero upfront costs to register our utilities, but we must be registered prior to any settlement or judgement to benefit for cost recovery. We have a contract to enter into an agreement and the town attorney, Mr. John Leidy, has recommended a few minor changes. Manager Cole is asking Council for approval to allow Attorney Leidy to negotiate those changes with Napoli Shkolnik PLCC. Mayor Pro Tem Hodges asked if the agreement gives the law firm the power to approve a settlement on our behalf and Manager Cole explained that it does not, it only gives them the authority to sign a settlement that Council approves. Mayor Brown asked what the implications are if our water is tested, and we don't meet the acceptable EPA thresholds. Manager Cole answered that this agreement will help us have the money to bring our water levels to the EPA requirements. Mayor Pro Tem Hodges clarified that the costs recovered would only be for our utilities and if residents wanted to sue the source of the PFAS, the retainer agreement does not prohibit them. Attorney Leidy Mayor Brown asked for a motion and Councilman Mimlitsch made the motion for Attorney Leidy to move forward with negotiations on the contract to retain Napoli Shkolnik PLCC. Counciwoman Anderson seconded the motion and it passed 5-0 with  John Leidy, has reviewed and edited.  confirmed that.  the following vote: Councilwoman Anderson aye Councilman Mimlitsch Councilwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown Manager's Update  aye aye  There will be a Planning and Zoning Board of Adjustments Meeting 9/19. There will be a public hearing, sO notifications were put in the newspaper. There are many special use permits being considered for Airbnbs and apartments in the downtown area. There is also a text amendment that ifiti is approved by the planning board, it will be presented to There are several upcoming meetings for which Manager Cole has previously given Tuesday, September 13th, Manager Cole and others will be meeting about the historic Hometown Strong meeting will be September 20th at 4:00PM. This meeting consists of representatives from different state agencies to discuss issues. In the next few days, Manager Cole should know which state agencies will be represented to meet with us and what that format will be. Citizens of Hertford are welcome to participate in the  Council for final approval. Council the dates.  designation for West Hertford.  Harbor Town will be meeting on September 27th.  Hometown Strong event.  Septermber 12, 2022 Regular Session Minutes    At the foot of the S-Bridge at Church Street and Newby, there is the Quaker Monument that has been relocated to that site and secured. The Perquimans County Quaker community would like to have a rededication ceremony. This year is a significant anniversary of their establishment in Perquimans County, and they are the first Christian establishment in this county. October 2nd is national Quaker Day and that is the date they would like to have the rededication of the monument. No street closures should be needed. There are approximately 30 Quaker sites in Perquimans County and Manager Cole is working with the Quaker community to provide the TDA with information  regarding a driving tour of those sites. COUNCIL REPORTSICONCERNS  Councilwoman Brothers thanked Manager Cole for her hard work, efforts, and dedication as it is greatly appreciated and noticed throughout the town and county. She also thanked Public Works Department for their service. Counciwoman Brothers wanted to publicly thank the following for responding when she has reached out to them fora assistance to our town and volunteered their time: Mr. Reginald Cox, Mr. Jeremy Roser, Mr. Jamie Everett. On September 14th at 2PM The African American Experience from Northeast North Carolina will be back in session. Three new counties have joined the organization: Gates, Martin, and Washington. Councilwoman Brothers thanked the Mayor Pro Tem Hodges thanked all those who helped with the Indian Summer Festival: Public Works, Councilman Mimlitsch representing Council with the TDA, and all those who helped Stacey Layden, who oversaw the event. It was a spectacular event and one of the largest in downtown Hertford in many years. There were many booths, vendors, families, and overall great participation. Perquimans County Manager Heath sent Council an email expressing his thanks and conveying that he and folks in the county offices thought a lot of all the preparation the town did to host the event. Mayor Pro Tem Hodges recognized Manager Cole and her staff for coordinating with the county and we look forward to reciprocating. He expressed appreciation for all that the County did, including the Sheriffs Department, Emergency Management Services, and the Hertford Fire Department for coming out. Mayor Pro Tem Hodges has been working with Manager Cole and Sharon Smith on the narrative for EDA grant the town is pursuing for the next phase of the waterfront project. The deadline for the grant is September 30th but our target date for submission is September 23rd. Councilman Mimlitsch also thanked all those for helping with a successful Indian Summer Festival. Citizens were pitching in to set up tents and help with cleanup. The car show was amazing, and vendors were selling out of their goods. He noted that EMS arrived early during set up to be on hand for any situations that may arise and stayed until late at night until the roads were reopened. The street dance Friday night was a huge and well-attended success. This new town council is working well with the community to have events and take care of our town. The town manager is working hard for Council to make things happen, and we are seeing it constantly. The whole community seems to be coming together as a family. He did note that the Quakers do  citizens who attended tonight's meeting.  September12,; 2022 Regular Session Minutes    have a strong presence in our community and county and were recognized in an article Counciwoman Anderson thanked Manager Cole and Public Works for all their help with the SML Flea Market. The last flea market was held August 27th and went very well. Vendors have asked if there will be a Christmas market, but it looks unlikely that will happen in 2022. Itv will be considered next year. Counciwoman Anderson thanked Jennifer Byrum for coordinating the SML Flea Market from setup to cleanup at each of the six events. She also thanked HHI for use of their tents at the market, and thanked HHI President Lynne Raymond for her assistance. Counciwoman Anderson received very positive feedback about the Indian Summer Festival and requests for Native American elements being included next year. People were very happy to see the return of the Indian Summer Festival to Hertford. The Festival and the SML Flea Market Manager Cole interjected to state that the Indian Summer Festival was not a Town event but a county function. TDA is a county entity and the town worked closely and very well with TDA to host this event. Manager Cole wanted to be sure credit is given to Mayor Brown shared that a 16-year Hertford resident said the Indian Summer Festival this year was the best. She recognized Stacey Layden and her team for a successful event and commended Ms. Layden's leadership skill. The festival this weekend was a great display of the town and county working as a partnership. Mayor Brown even participated in the pie eating contest! Another example of partnership and unity in our community was the voter registration tent. The president of the local democratic party and the president of the local republican party worked together at the booth to register voters. Many people deserve a thank you for their participation in the success oft the Indian Summer Festival. Mayor Brown thanked the Town Manager and the Town Clerk for the outstanding job they are doing with our meeting minutes. Not only documenting our current minutes in a timely and professional manner, but also going back into 2021 and getting those minutes cleaned up for presentation as the documentation of our history. The Seeds of Success is making STEM ice on September 17th from 1-3PM. On September 26th there is an open house as the schools are closed that day. Seeds of Success is trying to be open on the days that school is closed throughout the school year. There is a Harvest Festival on October 29th, a Halloween party for the kids. There were days when only one child showed up at Seeds of Success, but the last three events have had an attendance of 19 kids. The program received a free library book box from a grant the Perquimans Library received and asked the Seeds of Success for input for placement of the other two library boxes. The box that has been received, containing adult and children's books, has been placed on Stokes Street next to the Mayor Brown read the Announcements before going in to Closed Session.  about a year or two ago.  brought people into downtown Hertford.  where it is due.  mailboxes.  Announcements  September 10th-1 16th (new dates) Tent Revival, Academy Green, King St.  septermber12,2022 Regular Session Minutes  7    September 17th - Toast the Perquimans, 6-10PM, Hertford Bay Marina September 22nd- Perquimans County Library Community Resource Fair September 24th- Neighbors Meeting Neighbors, Rec Center, 3 - 5PM September 24th- Jollification, House Tours and Dinner at Newbold House October 1st - Art on the Perquimans, Rec Center (incl. bake sale, BBQ October 8th- Community Movie Night (Black Panther), Central Park (Market & October 15th- Halloween Community Event, Dobbs St between Hyde Park & October 15th- Open Door of Perquimans County Walk for Hunger, starting October 21st. Seeds of Success Open 1-3PM Youth Program with 4-H, October 28th- Trunk or Treat, Church Street starting at 4:30PM October 29th- Seeds of Success Harvest Festival October 29th- 10th Annual Belvidere Day  September 26th- Seeds of Success Open 1-3PM  dinner plates, chili cook-off, outdoor dining, pumpkin decorating)  East & West Academy, 6:30PM  Edenton Rd St.  at the Library at 9AM walking to the S-Bridge & back  2-3PM discussing nutrition  Ar motion was made by Mayor Pro Tem Hodges for Council to go into closed session pursuant to NCGS5143-318.11 (6) and (3), citing attorney-client privilege and personnel matters. Counciwoman Brothers seconded the motion and it passed 5-0 with the  following vote: Councilwoman Anderson aye Councilman Mimlitsch Counciwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown  aye aye  Council went into closed session at 7:06PM Council came out of closed session at 8:01PM  Counciwoman Brothers made a motion to go back into closed session pursuant to NC6S9143-318.11 (1) and Councilman Mimlitsch seconded. It passed 5-0 with the  following vote: Counciwoman Anderson aye Councilman Mimlitsch Counciwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown  aye aye  Council went back into closed session at 8:02PM. Council came out of closed session at 8:06PM  Septermber 12, 2022 Regular Session Minutes  8    A motion was made by to adjourn the meeting by and seconded by Councilman Mimlitsch. The motion passed 5-0 with the following roll call vote:  Councilwoman Anderson aye Councilman Mimlitsch Councilwoman Brothers aye Mayor Pro Tem Hodges aye Mayor Brown The meeting adjourned at 8:07 PM.  aye aye  Septermber 12, 2022 Regular Session Minutes  9    The North Carolina Capital Management Trust Government Portfolio  Purpose and Benefits  Offered exclusively to the following entities of the State of North Carolina: Local governments Local ABC boards Public authorities Community colleges School administrative units Public hospitals Please note that the prospectus and statement of additional information are the only authorized sources of definitive information regarding investment in the Government Portfolio. Investors should read and retain them fort further reference.  The North Carolina Capital Management Trust Government Portfolio ("Government Portfolio")s seeks to provide preservation of capital and liquidity Provides an economic and convenient means to invest short-term available Offers a diversified portfolio of high-quality government money market  with a market rate ofr return. cash and bond proceeds. instruments. Authority  Seeks to achieve this objective byi investing onlyi in those money market instruments that are authorized fori investment by units of local governments pursuant to North Carolina General Statute 159-30 and in 20 North Carolina  Administrative Code 3.0703. Suitability  - Offers participants the benefits of current money market yields, convenient / Allows fori investments to be made in any amount for any period of time. - Withdrawals may be made at any time with no penalties or additional charges. Government Portfolio is a diversified fund of the North Carolina Capital Management Trust, an open-end management investment company. Government Portfolio is managed by Fidelity Management and  liquidity, and professional management.  Professional Management  Research Company. and servicing agent.  Capital Management of the Carolinas, LLC, is Government Portfolio's distributor  THE  NORTH CAROLINA Capital Management Trust    Trading  Investment Strategy Seeks to obtain as higha a level of current income as is consistent with the preservation of capital and liquidity, andi to maintain a constant net asset value of $1.00 per share. SEC registered money market mutual fund operating in accordance with Rule 2a-7 of the Investment Company Act of 1940. Normallyi invests at least 99.5% ofi its total assets in cash, U.S. Government Securities, and/or repurchase agreements that are collateralized fully (i.e., collateralized government securities) Ina addition, the Adviser normally invests at least 80% of the fund's assets in U.S. Government: securities and repurchase agreements for those securities. Fundi is rated AAAm by Standard & Poor's.*  Participants may purchase or redeem shares by bank wire, check, or ACH All same-day wirei investments may be placed by calling 800-222-3232 ACH transactions may be placed by calling 800-222-3232 between 8:30 a.m. and 4:00 p.m. ETf fors settlement the following business day. Government Portfolio's neti income is declared as a daily dividend. Declared dividends are accrued throughout the month, normally distributed tos shareholders on thei first business day of the month, and automatically  (Automated Clearing House). between 8:30a.m. and 12:00 p.m. ET.  Dividends  reinvested unless otherwise specified. Confirmations and Statements  Aconfirmation ofe each transaction will be sent by mail, indicating the date, amount, type oft transaction processed, and the resulting account balance. Monthly account statements listing all transactions, dividends paid, and the Government Portfolio's fiscal year-to-date dividends and any paid checks will  by cash or  be sent after the close of each month.  For more information on The North Carolina Capital Management Trust Government Portfolio, please call 800-222-3232.  Not FDIC Insured . May! Lose Value . No Bank Guarantee  Not NCUAorN NCUSIF insured. May! losey value. Nocredit uniong guarantee. Notad deposit ofab bank. assets. Ratings are noti intended asa a recommendation: and ares subjectb tochange. Diverslfication does not ensure aj profito org guarantee againsta al loss.  *1 Thel North Carolina Capital Management Trust Government Portfolio recelved an AAAm rating by Standard &F Poor's. Standard and Poor'sr money marketf fundr ratings ratet thei investment qualityo oft the fund'ss sharesa and range from Aaa/AAAm (Highest)t to B/Dm( (lowest. Independent ratinga agencyfundr ratingsi include, but are not limitedb to, ar regular analysis ofaf fund'sliquidity, diversification, operational policles, andi internal controls; its mangemerchandehais, andt thec credilworthiness ofits You could lose money by investing in the fund. Although the fund seeks to preserve the value ofy your investment at $1.00 pers share, it cannot guarantee it will do so. An investment in the fundi is noti insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund's sponsor, have no legal obligation to provide financial support to thet fund, and you should not expect that the sponsor will provide financial support to the fund at any time. The North Carolina Capital Management Trust Government Portfolio will noti impose at fee upon the sale ofy your shares, nor temporarily suspend your ability to sell shares ift the fund's weekly liquid assets fall below 30% ofi its total assets because of market conditions or Before investing, consider thet funds' investment objectives, risks, charges, and expenses. Contact Capital Management of the Carolinas LLC for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.  other factors. 660812.3.0  FIDELITY INVESTMENTS INSTITUTIONAL: SERVICES COMPANY, INC., 500SALEMS STREET, SMITHFIELD,RI 02917  1.969889. 102 0916    S&PGlobal Ratings Principal Stabililty Fund Portfolio Ratings Definitions AAAm Alundi raled About the Pool 'AAAm' demonskales Pool Rating extremelys strongo capacitylo mainlain principals slablity Pool Type andl lol limite exposurelo principall losses duél locredil risk, 'AAAm'isU lhet highest principals slability fundi (aling assigned bys S&P Global Ralings demonstrales verys slrong capaclty lon mainlain principal credit risk.! ltdiffers! from the Custodian highest-rated lunds only toa smallo degree. Am Afund raled' Am' demonskales strong capacily lomainlainp principals slabilily Rationale susceptible tothea adverse elfecis ofchangesi in conditions thanf fundsi in higher-r raledo calegories Overview 'BBBm' demonstrales adequalec capacllylo  POOL PROFILE  March 25, 2022  North Carolina Capital Management Trust- Government  AAAm Pool  Stable NAV Government Investment Company Management, Inc  Portfolio Composition as of! March 25, 2022  Investment, Adviser Fidelity Investments & Research  REPO. 13.7%  AAm Afundr raled' AAm' Portfolio Manager Andre! Messier & Maura Walsh top slabinly principail andl loli losses limile duelo exposure Pool Rated Since October 1998  TREAS 54.3%  GOV-AGCY 32,0%  Wells Fargo Bank N.A. Capital Management of the Carolinas L.L.C.  Distributor  TREAS- Treasury; GOV-AGCY -Agencya and Governmani; REPO- day to day responsibility for choosing investments for eachi fund. Capital Management oft the Carolinas L.L.C., Charlotte, N.C., acts as the distribution agent of shares for the North Carolina Management Trust- Government Portfolio. In addition to the North Carolina Government Portfolio, FMR currently manages three additional 'AAAm' rated money market funds. Portfolio Assets in order to meeti its investment objectives, the North Carolina Capital Management Trust- Government Portfolio will normally al least 99.5% oft total assets inc cash, U.S. government securities and/or repurchase agreements that are collateralized fuily with cash or government securities, as permitted by North Carolina General Statue 159-30 as amended and 201 North Carolina Administrative Code 3.0703  Repurchase Agreement  andioli limite exposure! lo S&P Global Ratings rates North Carolina Capital principail losses duet tocredit Management Trust- Government Portfolio' 'AAAm'. risk, butiss somevhalr more The rating signifies our forward-looking opinion about circumslances ande economic value (i.e., stable net asset value, or' 'NAV). BBBm Afundr raled open-end management investment company mainteinp andlo lol limile pincipal exposurel slablily lo Government Portfolio is a '40/ Act" fund andi is princlpallosses duel locredil. subject to SEC rule 2a-7. Shares are offered risk. However, adverse exclusively to the following entities of the State of economic conditionsor North Carolina: local governments and public morel changhnge likelyl circumslances lole leadk loa are authorities (as defined in! North Carolina General reduced capacity lon maintaln Statute 159-7); school administrative units; local BBm Afund rated' 'BBm' hospitals. Thei investment objective oft the demonslrales cheracteristics speculative andu uncerlain Government Portfolio is to obtain as high' al level of capacily! lomaintalnp principal current income asi is consistent with the slabilily. llisy yuinerablelo preservation of capital and liquidity and to maintain principall losses due! locredit a constant net asset value (NAV) of$1.00 per large uncerlainlies orr major The North Carolina Capitail Management Trust- Dm Afundi raled" Dm' has investments and handling it's business affairs.  Capital  a fixed-income fund's ability to maintain principal The North Carolina Capital Management Trusti is an organized as al Massachusetts business trust. The North Carolina Capital Management Trust-  principal slablily.  ABC boards (independent political subdivisions of the state); and community colleges or public  as amended.  risk. Whiles suchf fundsy wil share. likely haves someq qualily and prolectivec characleristics, lhese may: beo outweighed! by Management exposures toa adverse condilions. failed lor maintainp principal slablity resllingir ina arealized Fidelity or unrealized! losso of principal.  Government Portfolio! is managed by Fidelity Management & Research Co. (FMR). FMRI has overall responsibility for directing the fund's  Investments  Money Management, Inc. has  S&P Global Ratings Analyst: Marissa Zuccaro (303): 264-8819  www.spratings.com  Participants should consider the investment objectives, risks ando charges ande expenses of the pool before investing. Thei investment guidelines which can be obtained from) your broker-dealer, contain this and other information about the pool ands should be read carefully before  investing.  Plus (+) or Minus (-) Investment Prolessional use only. Not ford distribution unless proceeded ora accompanied! byap prospectus. Reprinted witht the permission of Standard Ther ralings mayb ber modified and Poor's Investment Services, a division oft the McGraw Hill Companies. Fidelily and Fidelity Investments are registered trademarks OfFMR Corp.  byl thea addiliono ofaplus(*)or minus ()sign! los show relalives slanding within! the ratingo calegories.