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"Trust Agreement" means the Agreement and Declaration of <br />Trust, dated as of November 1, 1991, creating and establishing the <br />SECTION 2. FINDINGS. It is hereby ascertained, determined <br />and declared that.. <br />(A) It furthers the public interest for the County to invest <br />any monies not immediately required to be disbursed and to maximize <br />the net earnings on such funds. <br />(B) Section 125.31, Florida Statutes, provides certain <br />limitations and regulations applicable to the investment of surplus <br />public funds where not otherwise authorized by law or ordinance. <br />(C) It is the intent and desire of the Boara to aurnori.ze <br />additional investments for surplus public funds in order to seek <br />a higher rate of return without compromising the safety of such <br />funds and to provide by this Ordinance authorization for investment <br />opportunities in addition to those set forth in Section <br />125.31(1)(a) through (f), Florida Statutes. <br />(D) The FLIT, the trustees of which are appointed by the <br />Florida Association of Counties, Inc. and the Florida Association <br />of Court Clerks and County Comptrollers, has been created for the <br />purpose of establishing Investment Funds for pooling the surplus <br />funds of participating public entities for joint investment in <br />order to seek a higher rate of return without compromising the <br />safety of such funds. <br />SECTION 3. AUTHORIZATION OF INVESTMENT. Surplus public <br />funds managed or held by the Clerk on behalf of any officer, board, <br />