HomeMy WebLinkAboutCity of Tamarac Resolution R-94-167Temp. Reso. # 6811
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-94- 167
A RESOLUTION AUTHORIZING THE INVESTMENT OF CITY
FUNDS BY THE CITY MANAGER OR HIS DESIGNATED
REPRESENTATIVE IN A MANNER CONSISTENT WITH THE
FLORIDA STATUTES AND THE CODE OF THE CITY OF TAMARAC,
FLORIDA; PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City Charter, Section 7.02 provides for any City funds on deposit
not currently needed for public purposes are to be invested in instruments or institutions
as authorized by Florida Statutes but does not clearly set forth a procedure for the
investment of City funds; and
WHEREAS, Section 166.261, Florida Statutes, states that investments by local
governments are to be by resolution of the governing body unless otherwise set forth by
ordinance; and
WHEREAS, the City Code, Section 6-27, provides that the investment of City funds
shall be the responsibility of the City Council which shall establish by resolution
procedures for investment transactions; and
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Temp. Reso. # 6811
SECTION 1: That the foregoing whereas clauses are hereby ratified and
confirmed as being true and correct and are hereby made a specific part of this resolution
upon adoption hereof.
SECTION 2: All funds of the City or funds held by the City which are
suitable for investment may be invested on behalf of the City by the City Manager or his
designated representative.
SECTION 3: All investments shall be consistent with requirements set forth
within the Florida Statutes and provisions of the Code of the City of Tamarac.
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hereby repealed to the extent of such conflict.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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SECTION 6:
passage and adoption.
This Resolution shall become effective immediately upon its
Passed this day of ar� , 1994.
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NORMAN ABRAMOWITZ
MAYOR
ATTEST: _
RECORD OF
MAYOR
ABRAMOWITZ��
DIST. 1'
V / M KATZ
Carol A. Evans DIST. 2:
C / M MISHKIN
City Clerk DIST. 3:
C / rat SCHREISE:R
DIST. 4:
is / W MAGHEK
I HEREBY CERTIFY that I have approved
the Resolution as to form.
City Attorn
investment
VOTE -� m