R-0744-82 RESOLUTION NO. 744-82
A RESOLUTION AUTHORIZING THE FINANCE
DIRECTOR TO INVEST AND WITHDRAW FUNDS
IN THE LOCAL GOVERNMENT SURPLUS FUNDS
TRUST FUND.
WHEREAS, Chapter 218, Part IV, Florida Statutes (1979) , constitutes
the Investment of Local Government Surplus Funds Act, and
WHEREAS, the State Board of Administration administers the Local
Government Surplus Funds Trust Fund, and
WHEREAS, the Miami Shores Village from time to time has funds on
hand in excess of current needs, and
WHEREAS, it is in the best interest of the Miami Shores Village
and its citizens that funds be invested to return the highest yield
consistent with proper safeguards, and
WHEREAS, Section 218.407 (2) Florida Statutes (1979) , provides
that utilization of the trust fund shall not impair the power of the Village
to hold funds in its deposit accounts with banking institutions or to invest
funds as otherwise authorized by law, and
WHEREAS, the Finance Director and the Village Manager have recommended
that the Finance Director have available this additional investment possibility
when surplus funds become available.
NOW, THEREFORE, BE IT RESOLVED
Section 1: That the Finance Director is hereby authorized to invest
surplus Village funds in the Local Government Surplus Funds Trust Fund.
Such authorization includes the authority to transmit such funds to the
State Board of Administration who is responsible for administration of the
Fund and authorization to withdraw funds from the Fund in a manner prescribed
by the State Board of Administration.
Section 2: That this authorization shall be deemed to be a continuing
authorization until such time as revoked by Resolution of the Village Council
of Miami Shores Village.
PASSED and ADOPTED this 21st day of September, 1982.
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ATTEST: Rob rt J. Lo
Mayor
Village Clerk /