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r— AUG 10 1993 aooK 90 F,F 170 allowable while deposited in prudent and safe investments, securities, and instituti6ffs, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: 1. For the purposes of this resolution the term "surplus funds" is defined as funds in any general or special account or fund of Indian River County held or controlled by the County Commissioners or the Clerk to the Board of County Commissioners which, in reasonable contemplation, will not be needed for the purposes intended within a reasonable time from the date of such investment. Surplus funds shall not include any funds subject to any contract or agreement on the date of enactment of this resolution; such funds shall not be invested contract to such contract or agreement. 2. The Board of County Commissioners of Indian River County hereby authorizes the investment of surplus funds in the control or possession of the Clerk to the Board of County Commissioners in those investments authorized by Section 125.31, Florida Statutes, as may be amended from time to time, and in the shares of the Florida Counties Investment Trust (FCIT) of which Indian River County is a member, and in any specific additional investments authorized by a subsequent Board of County Commissioners resolution. 3. This authorization shall be continuing in nature until revoked by the Indian River County Board of County Commissioners. 4. This resolution replaces any conflicting prior resolutions adopted by the Indian River Board of County Commissioners and specifically repeals Resolution No. 89-76. The resolution was moved for adoption by Commissioner Emmert , and the motion was seconded by Commissioner Tippin, and, upon being put to a vote, the vote was as follows: Chairman Richard N. Bird Aye Vice Chairman John W. Tippin Aye Commissioner Carolyn K. Eggert Aye Commissioner Fran B. Adams Aye Commissioner Kenneth R. Macht Aye 22