HomeMy WebLinkAbout1993-135RESOLUTION NO. 93- 135
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA;
AUTHORISING AND DIRECTING EXECUTION AND
DELIVERY OF A JOINDER TO THE AGREEMENT AND
DECLARATION OF TRUST CREATING AND ESTABLISHING
TM FLORIDA COUNTIES INVESTMENT TRUST; AND
PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN
RIVER COUNTY, FLORIDA:
SECTION 1. DEFINITIONS. Unless the context of use clearly
indicates another meaning or intent, the following words and terms
as used in this Resolution shall have the following meanings.
"Boards' means the Board of County Commissioners of the County.
HCbairmanit shall mean the Chairman or Vice Chairman of the
Board, and such other person as may be duly authorized to act on
his or her behalf.
INClerkil shall mean the Clerk of the Circuit Court for the
County, ex -officio Clerk of the Board, or such other person as may
be duly authorized to act on his or her behalf.
"County's means Indian River County, a political subdivision
of the State of Florida.
11FCIT11 means the Florida Counties Investment Trust.
HXnveatment Fund's means a trust fund established pursuant to
the FLIT Agreement to enable public entities to pool their surplus
funds for joint investment.
"Joinder Agreement" means the Joinder to Agreement and
Declaration of Trust between the County and FCIT, in substantially
the form appended hereto as Exhibit A.
"Resolution" means this Resolution, as the same may from time
to time be amended, modified or supplemented.
"FCIT Agreswent'l means the Agreement and Declaration of Trust,
dated as of December 1, 1991, creating and establishing the FCIT,
a copy of which is attached to the Joinder Agreement as Appendix
A thereto.
SECTION 2. FINDINGS. It is hereby ascertained, determined
and declared that:
(A) It furthers the public interest for the County to invest
any monies not immediately required to be disbursed and to maximize
the net earnings on such funds.
(B) The Florida Counties Investment Trust has been
established pursuant to the FCIT Agreement for the purpose of
establishing one or more Investment Funds for pooling surplus funds
of public entities for joint investment.
(C) The County desires to have the Investment Funds available
should they be determined, at any time, to be an advantageous
investment for the County's surplus funds.
(D) The County is required to become a party to the FCIT
Agreement as a condition precedent to participation in any
Investment Fund.
SECTION 3. AUTHORISATION OF aCIT AGREMONT. The County
hereby authorizes and directs the Chairman to execute the Joinder
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Agreement and the Clerk to attest the same under the seal of the
County for the purpose of becoming a party to the FCIT Agreement
and evidencing the County's agreement to become bound by the terms
thereof. The Clerk is further directed to deliver the Joinder
Agreement to FCIT for execution by its appropriate officers. Upon
execution and delivery of the Joinder Agreement by the County and
FCIT, all of the terms and provisions of the Joinder Agreement and
the FCIT Agreement shall be deemed to be a part of this Resolution
as fully and to the same extent as if incorporated verbatim herein.
The Joinder Agreement shall be in substantially the form attached
hereto as Exhibit A, with such changes, amendments, modifications,
omissions and additions as may be approved by the Chairman.
Execution of the Joinder Agreement by the Chairman shall be deemed
to be conclusive evidence of approval of such changes.
SECTION 4. EFFECTIVE DATE. This Resolution shall take
effect immediately upon its adoption.
DULY ADOPTED this 10th day of Auiust , 1993.
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
(SEAL)
By:
Chairman Richard N. Bird
Board of County Commissioners
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