HomeMy WebLinkAboutCity of Tamarac Resolution R-87-057Introduced by: Temp. Temp. Reso. #4490
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-87- �S7
A RESOLUTION AUTHORIZING AND APPROVING
THE INVESTMENT OF SURPLUS FUNDS PURSUANT
TO SECTION 7.08(c) OF THE CITY CHARTER AS
APPROVED BY THE ELECTORATE ON NOVEMBER 4,
1986; APPROVING THE INVESTMENT OF SURPLUS
FUNDS PURSUANT TO STATE STATUTES; PROVID-
ING AN EFFECTIVE DATE.
WHEREAS, the City of Tamarac, on occasion, has surplus
funds not required for public purposes; and
WHEREAS, pursuant to Section 7.08(c) of the City Charter
as amended by the Electorate on November 4, 1986, the City of
Tamarac is authorized to invest surplus funds pursuant to the
laws of Florida; and
WHEREAS, the City Council is desirous and finds it to be
in the public interest to invest in programs established by
Florida Statutes; and
WHEREAS, it is in the public interest that funds be
invested to return the highest yield consistent with proper
safeguards.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF TAMARAC, FLORIDA:
SECTION 1: That the Finance Director is hereby
authorized to transmit such surplus funds to the State Board
of Administration to be invested according to applicable laws
of the State of Florida consistent with the needs of the City
of Tamarac. Such authorization includes authority to with-
draw the funds from the State Board of Administration by
giving timely notice and confirmation by letter.
SECTION 2: That this authorization shall be continuing
in nature until revoked by the City Council of the City of
Tamarac.
SECTION 3: That the Finance Director shall comply with
all State laws and regulations.
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SECTION 4: This Resolution shall become effective
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immediately upon its passage.
PASSED, ADOPTED AND APPROVED, this / day of 1987.
ATTEST:
z X�3�_
CAROL E. BARBUTO
CITY CLERK
I HEREBY CERTIFY that I have
approved the form and correct-
ness of this RESOLUTION.
01/2-4/87/rms
B NARD ffARtff MAYOR
MAYOR: HART ��----
DIST. 1: C/W MASSARO
DIST. 2: V/M STELZER �...—
DIST. 3: C/M GOTTESMAN_
DIST, 4: C/M STEIN
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