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1993-136
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1993-136
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7/29/2020 2:45:46 PM
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7/29/2020 12:55:13 PM
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Resolutions
Resolution Number
193-136
Approved Date
08/10/1993
Entity Name
Florida Counties Investment Trust
Subject
Authorizing investment of surplus funds in the Florida Counties Investment Trust
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permitted by law. No such indebtedness shall have a maturity later <br />than that necessary to avoid the unscheduled disposition of <br />portfolio investments. <br />SECTION 4.08. DEPOSITS. The Trustees shall have full and <br />complete power to deposit, in accordance with the law, any monies <br />or funds included in the Trust Property and intended to be used for <br />the payment of expenses of the Trust, with one or more entities in <br />the State which are eligible under the laws of the State to be a <br />depository for public funds, whether or not such deposits will draw <br />interest. Such deposits are to be subject to withdrawal in such <br />manner as the Trustees may determine, and the Trustees shall have <br />no responsibility for any loss which may occur by reason of the <br />failure thereof. With respect'to such deposit, each such entity <br />shall comply with all applicable requirements of law. <br />SECTION 4.09. VALUATION. The Trustees shall have full and <br />complete power to determine conclusively, in good faith, the value <br />of any Trust Property and to revalue the Trust Property as more <br />specifically set forth in Article IX herein. <br />SECTION 4.10. FISCAL YEAR AND CRART OF ACCOUNTS. The <br />Trustees shall have full and complete power to determine the fiscal <br />year of the Trust and the method or form in which its accounts <br />shall be kept, and from time to time to change the fiscal year or <br />method or form of accounts. Unless otherwise determined by the <br />Trustees, the fiscal year of the Trust shall commence on October 1 <br />of each year and terminate on September 30 of the following <br />calendar year. <br />SECTION 4.11. CONCERNING THE TRUST AND AFFILIATES.. The Trust <br />shall not enter into separate transactions with or make investments <br />in any Affiliate of the Trust or of any Trustee, Investment Advisor <br />(except as otherwise permitted by written agreement), <br />Administrator, officer, employee or agent of the Trust; provided <br />that the Trust may purchase and sell Permitted Investments from and <br />to the Custodian or and Affiliate of the Custodian. <br />SECTION 4.12. INVESTMENT POLICY. The Trustees shall use <br />their best efforts to obtain, through the Investment Advisor or <br />other qualified persons, a continuing and suitable general <br />investment policy for each Investment Fund, consistent with the <br />investment objectives of the Trust set forth herein. The Trustees <br />shall be responsible for reviewing and approving or rejecting all <br />investment policies presented by the Investment Advisor or such <br />other persons. <br />SECTION 4.13. AGENTS AND EMPLOYEES. The Trustees shall have <br />full and complete power to appoint, employ, retain or contract with <br />any person of suitable qualification (including any corporation, <br />partnership, trust or other entity) as the Trustees may deem <br />necessary or desirable for the transaction of the affairs of the <br />19 <br />
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