HomeMy WebLinkAboutCity of Tamarac Ordinance O-1985-010Introduced by:Mavor Ph' . B. Kravitz Temp. #1178
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CITY OF TAMARAC, FLORIDA
ORDINANCE NO. 0--85--ZO-
AN ORDINANCE CREATING SECTION 2-44 OF THE
TAMARAC CITY CODE ESTABLISHING AN INVESTMENT
ADVISORY COMMITTEE; PROVIDING FOR SEVERA-
BILITY OF INVALID PROVISIONS; PROVIDING FOR
CODIFICATION; AND PROVIDING AN EFFECTIVE
WHEREAS, the City Council desires to establish an
Investment Advisory Committee, define the scope of the Com-
mittee's duties and determine the number of members and terms
of office.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF TAMARAC, FLORIDA:
ECTION_1: That Section 2-44 of the Tamarac City Code
is hereby created to provide as follows:
"Sec. 2-44. Investment Advisory Committee.
a) The Committee shall be responsible to keep abreast
of current investment trends, receive the input of
administrative officers regarding investment con-
cepts for the City, and make recommendations there-
on to the City Manager (and his designees), and
file such reports with the Mayor and City Council.
The Committee shall have no administrative
authority, and shall not be directly involved in
the ongoing process of investment of city funds.
b) The Committee shall be composed of at least three
(3), but not more than five (5) members. The
Committee shall hold a regular meeting once each
month on an agreed date and time in City Hall. All
meetings shall be open to the public. The Mayor,
or his designee, and the Finance Director, or his
designee, shall serve as ex-officio members of the
Committee. No regular members of the Committee
shall be actively engaged as an employee, officer,
board member, consultant or representative of any
financial institution or investment brokerage firm.
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ALI
Temp. #1178
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All other procedures and rules of the Committee
shall conform to Sec. 2-60 of the Tamarac City Code
(Committee Procedures).
SECTION__2: Should any section or provision of this
Ordinance or any portion thereof, or any paragraph, sentence
or word be declared by a Court of competent jurisdiction to
be invalid, such decision shall not affect the validity of
the remainder hereof as whole or any part hereof, other than
the part declared to be invalid.
�ECTIO 3: Specific authority is hereby granted to
codify this Ordinance.
.EECTIQNy__4: This Ordinance shall become effective
immediately upon its final passage.
PASSED FIRST READING this9lday of ,
1985
PASSED SECOND READING thisZ—Oday of ,
1985.
ATTEST:
6g!±6 ��7 Z��2�
ASSISTANT CITY CLERK
I HEREBY CERTIFY that I have
approved the form and correct-
ness of this dRDINANCE.
V.,WT• c�i4
11560031885/t
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V AL
A OR
RECORD OF COUNCIL VOTE
MAYOR; A IT
DIST 4: M STEIN
DIST 3: ,QM Gg EWA_N/j,-ee
DIST 2: QM NI
DISC` 1: WM AMS ARO
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VC