HomeMy WebLinkAbout1989-0767/25/89(LEGAL)Resot(Vk)EF
RESOLUTION NO, 89- 76
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY,
FLORIDA, AUTHORIZING THE INVESTMENT OF
SURPLUS FUNDS, AS PROVIDED BY FLORIDA
STATUTES 4125.31.
WHEREAS, Indian River County from time to time has
funds on hand in excess of current needs; and
WHEREAS, it is in the best Interest of the citizens of
Indian River County that funds be Invested in such a manner
as to yield the highest return possible consistent with
proper safeguards for the handling of government funds; and
WHEREAS, It Is necessary for the Board of County
Commissioners to authorize the Investment of surplus County
funds to achieve the maximum public benefit by ensuring that
said funds earn the highest interest allowable while
deposited in prudent and safe Investments, securities, and
Institutions,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that:
1. For the purposes of this resolution the term
"surplus funds" Is defined as funds in any general or
special account or fund of Indian River County held or
controlled by the County Commissioners or the Clerk to the
Board of County Commissioners which, In reasonable
contemplation, will not be needed for the purposes intended
within a reasonable time from the date of such investment.
Surplus funds shall not Include any funds subject to any
contract or agreement on the date of enactment of this
resolution; such funds shall not be Invested contrary to
such contract or agreement.
2. The Board of County Commissioners of Indian River
County hereby authorizes the investment of surplus funds In
the control or possession of the Clerk to the Board of
County Commissioners In those Investments authorized by
Florida Statues 4125.31, as may be amended from time to
time.
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