HomeMy WebLinkAboutCity of Tamarac Resolution R-2009-085Temp Reso #11640
June 10, 2009
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2009- B,
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, REVISING THE INVESTMENT
POLICY OF THE CITY OF TAMARAC TO AUTHORIZE THE
UTILIZATION OF CERTAIN INVESTMENT INSTRUMENTS
AND; TO AUTHORIZE THE AMENDING OF THE
INVESTMENT PARAMETERS; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, an investment policy provides the formal structure that governs the
activities of investment official(s) and clarifies the City's investment objectives,
standards, and activities; and
WHEREAS, the City Commission of the City of Tamarac adopted an Investment
Policy by Resolution R-96-67 on March 27, 1996, and amended in 2000, 2001, 2002
2004 and 2008, is available in the City Clerk's office;
WHEREAS, the City Manager, the Director of Financial Services and the
Investment Advisory Committee recommend including the aforementioned change to
the City Investment Policy; and
WHEREAS, the Investment Advisory Committee wishes to expand the general
objectives of the Investment Policy, and add the criteria of transparency of the
investment portfolio and individual securities to the policy, and
WHEREAS, the Investment Advisory Committee wishes to make changes to the
investment parameters and types of instruments that the City may invest in, and
WHEREAS, the City Commission of the City of Tamarac, Florida, has deemed it
to be in the best interest of the citizens and residents of the City of Tamarac that the
Temp Reso #11640
June 10, 2009
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present Investment Policy be revised to include the aforementioned changes and
additions to allow the City to participate in certain investment products.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified
confirmed as being true and correct and are hereby made a specific part of this
Resolution.
SECTION 2: The City Commission authorizes the appropriate City
Officials to amend the City's Investment Policy to authorize the utilization of certain
investment instruments; and to authorize the amending of the investment parameters.
SECTION 3: The City Commission authorizes the appropriate City
Officials to amend the City's Investment Policy by amending Section IX. "Investment
Parameters", Table 1. "Investment Parameters," of said Investment Policy in order to
authorize utilization of and diversification in certain investment instruments as
authorized by Section 218.415 (16), Florida Statutes.
SECTION 4: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
SECTION 5: If any clause, section, other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid,
in part or application, it shall not affect the validity of the remaining portions or
applications of this Resolution.
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Temp Reso #11640
June 10, 2009
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SECTION 6: This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this o�
2009.
ATTEST:
k• • t'�CITY CLERK
I HEREBY CERTIFY that
I have approved this
RESOLUTION as to form.
EL S. GOREN
'ATTORNEY
day of 9�4�
BETH *. •
u_ •:
RECORD OF COMMISSION VOTE:
MAYOR FLANSBAUM-TALABISCO
DIST 1: COMM BUSHNELL�J
DIST 2: VM ATKINS-GRAD,._
DIST 3: COMM. GLASSER
DIST 4: COMM. DRESSLER