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BOOK 95 F, ,f 98 J <br />adoption. by Commissioner Eggert , and the motion <br />was seconded by Commissioner Bird •, and, <br />upon being put to a vote, the vote was as follows: <br />Chairman Kenneth R. Macht Absent <br />Vice Chairman Fran B. Adams Aye <br />Commissioner Richard N. Bird Aye <br />Commissioner Carolyn K. Eggert A y e <br />Commissioner John Tippin Aye <br />The Chairman thereupon declared the resolution duly passed <br />and adopted this 5 day of September <br />, 1995. <br />BOARD OF COUNTY COMMISSIONERS <br />INDIAN RIVER COUNTY, FLORIDA <br />Attest: <br />00 <br />J r y K. Ba on, ClerkED <br />n <br />i Cts6- au�- � <br />Fran B. Adams, Vice -Chairman <br />ADOPTION OF HWESTMENT POLICY <br />The Board reviewed a Memorandum of August 29, 1995: <br />TO: BOARD OF COUNTY COMMISSIONERS DATE: AUGUST 29, 1995 <br />SUBJECT: INVESTMENT POLICY <br />FROM: JEFFREY K. BARTON, CLERK OF THE CIRCUIT COURT <br />During the 1995 Florida Legislative session, PCS/HB 1795 was passed by the Legislature.'This act <br />created Section 218.415, Florida Statutes, and requires all local governments to adopt written <br />investment plans on or before October 1, 1995. The written investment policy must address fourteen <br />(14) different areas as follows: <br />1) Scope of the policy, <br />2) Investment objectives, <br />3) Performance measurement, <br />4) Prudence and ethical standards, <br />5) Authorized investments, <br />6) Maturity and liquidity requirements, <br />7) Portfolio composition, <br />8) Risk and diversification, <br />9) Authorized investment institutions and dealers, <br />10) Third party custodial agreements, <br />11) Master repurchase agreement, <br />12) Bid requirement, <br />13) Internal controls, and <br />14) Reporting <br />To assist in the development of an investment policy, I created an Investment Advisory Committee. <br />The inaugural meeting of the Investment Advisory Committee was held on Wednesday, July 19, <br />1995. At this meeting, a preliminary draft of an investment policy was reviewed and recommended <br />SEPTEMBER 5, 1995 17 <br />