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1993-136
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1993-136
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Last modified
7/29/2020 2:45:46 PM
Creation date
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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SECTION 7.06. KINIKUK XNVSSTKENT. Initially, and until <br />changed by action of the Trustees, there shall be a five thousand <br />dollar ($5,000.00) minimum total investment for each Participant. <br />•If the Trustees create a minimum total investment in an amount <br />greater than the investment of any Participant at the time that <br />such change becomes effective, the investment of such Participant <br />shall not be redeemed without such Participant's consent. <br />SECTION 7.07. MINIMUM REDEMPTION. There shall be a minimum <br />of one share which may be redeemed at any one time at the option <br />of a Participant. <br />SECTION 7.08. DEFECTIVE REDEMPTION REQUESTS. If a <br />Participant submits a request* for the redemption of a greater <br />number of Shares than are then allocated to such Participant, such <br />requests shall not be honored. Each Participant, by its adoption <br />of this Agreement, agrees that the Trustees shall have full and <br />complete power to redeeu an amount of the Shares allocated to such <br />Participant at a redemption price determined in accordance with <br />Section 7.04 hereof sufficient to reimburse the Trust for any fees, <br />expenses, costs or penalties actually incurred by the Trust as a <br />result of such defective redemption request. <br />28 <br />
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