O-485-85 ORDINANCE NO. 4g5-gr
AN ORDINANCE AMENDING PARAGRAPH (2) OF SECTION 17-21,
AND SECTION 17-23 OF THE CODE OF ORDINANCES OF MIAMI SHORES
VILLAGE, FLORIDA; AUTHORIZING MULTIPLE TRUSTEES AND TRUST
AGREEMENTS; PROVIDING EFFECTIVE DATE.
BE IT ORDAINED BY MAIMI SHORES VILLAGE, FLORIDA:
Section 1. Paragraph (2) of Section 17-21 of the Code of
Ordinances of Miami Shores Village, Florida reads as follows:
(2) Recommend the appointment of a corporate trustee
for the management, investment and safekeeping
of the fund herein created.
Section 2. Paragraph (2) of Section 17-21 of the Code of
Ordinances of Miami Shores Village, Florida is hereby amended to
read as follows:
(2) Recommend the appointment of a corporate trustee
or trustees for the management, investment and
safekeeping of the fund herein created.
Section 3. Section 17-23 of the Code of Ordinances of
Miami Shores TIllage, Florida shall stand amended to include
Paragraph (d) which shall read as follows.:
(d) The Board is authorized, subject to the approval by
the Village Council, to select more than one trustee,
in which event each trustee shall operate under a
separate trust indenture and each trustee shall keep
only the cash, securities and other assets acquired
under theplan in accordance with the terms thereof.
Section 4. This ordinance shall become effective upon
adoption.
PASSED ON FIRST READING this 6th day of August 1985.
PASSED AND ADOPTED on second reading on the 2oth day of August
1985.
L.R. Forney, Jr. Karen Kirb/)
Village Clerk Mayor
ATTEST:
BY:-X�z- Clerk
bnty,X� Nutter-Deputy Village Clerk
APPROVE AS TO FORM:
2Z�
I - I - / Villag6(Attorney