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7/25/89(LEGAL)Resot(Vk)EF <br />RESOLUTION NO, 89- 76 <br />A RESOLUTION OF THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, <br />FLORIDA, AUTHORIZING THE INVESTMENT OF <br />SURPLUS FUNDS, AS PROVIDED BY FLORIDA <br />STATUTES 4125.31. <br />WHEREAS, Indian River County from time to time has <br />funds on hand in excess of current needs; and <br />WHEREAS, it is in the best Interest of the citizens of <br />Indian River County that funds be Invested in such a manner <br />as to yield the highest return possible consistent with <br />proper safeguards for the handling of government funds; and <br />WHEREAS, It Is necessary for the Board of County <br />Commissioners to authorize the Investment of surplus County <br />funds to achieve the maximum public benefit by ensuring that <br />said funds earn the highest interest allowable while <br />deposited in prudent and safe Investments, securities, and <br />Institutions, <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that: <br />1. For the purposes of this resolution the term <br />"surplus funds" Is defined as funds in any general or <br />special account or fund of Indian River County held or <br />controlled by the County Commissioners or the Clerk to the <br />Board of County Commissioners which, In reasonable <br />contemplation, will not be needed for the purposes intended <br />within a reasonable time from the date of such investment. <br />Surplus funds shall not Include any funds subject to any <br />contract or agreement on the date of enactment of this <br />resolution; such funds shall not be Invested contrary to <br />such contract or agreement. <br />2. The Board of County Commissioners of Indian River <br />County hereby authorizes the investment of surplus funds In <br />the control or possession of the Clerk to the Board of <br />County Commissioners In those Investments authorized by <br />Florida Statues 4125.31, as may be amended from time to <br />time. <br />U <br />