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associations which are under state supervision, or in federal <br />savings and loan associations located in this state and organized <br />under federal law and federal supervision, provided that any such <br />deposits are secured by collateral as may be prescribed by law; <br />or <br />d) obligations of the federal farm credit banks, <br />federal home loan mortgage corporation, or federal home loan bank <br />or its district banks, including federal home loan mortgage cor- <br />poration participation certificates, or obligations guaranteed by <br />the government national mortgage association. <br />3. All securities purchased pursuant to this resolution <br />shall be properly.eaxmarked and immediately placed for safekeeping <br />in a safety deposit box in some bank or institution carrying <br />adequate safety deposit box insurance within Indian River County, <br />and.no withdrawal of such securities in whole or in part shall be <br />made from such safety deposit box except upon the authority of the <br />Director, OMB with the concurrence of the County Administrator <br />pursuant to this resolution. <br />4. The Clerk with the concurrence of the Director, OMB <br />and the County Administrator is also hereby authorized to receive <br />bank trust receipts.in return for investment of surplus funds and <br />securities. Any trust receipt received must enumerate the various <br />securities held together with the specific number of each security <br />held. The actual securities on which the trust receipts are <br />issued may be held by any bank depository chartered by the United <br />States Government or the State of Florida or their designated <br />agents. <br />5. When the money invested in such securities is needed <br />in whole or in part for the purposes originally intended, the <br />Director, OMB with the concurrence of the County Administrator is <br />authorized to sell such security or securities at the then <br />prevailing market price and to pay the proceeds of such sale into <br />the proper account or fund of the County. <br />6. This resolution shall not be construed to alter the <br />constitutional responsibilities of the Clerk to the Board of <br />County Commissioners. <br />11 � <br />AUG 3 <br />19$3: ,��►� Fz pA�� <br />