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1993-22 Authorizing Excess City Funds to State Board of AdministrationRESOLUTION NO. 93 - 22 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PARKLAND, FLORIDA AUTHORIZING IDLE FUNDS TO BE TRANSMITTED TO THE STATE BOARD OF ADMINISTRATION TO BE INVESTED ACCORDING TO APPLICABLE LAWS OF THE STATE OF FLORIDA. WHEREAS, the City of Parkland from time to time has funds on hand exceeding current needs; and WHEREAS, it is in the best interest of the City of Parkland and its inhabitants that funds be invested to return highest yield consistent with proper safeguards. NOW, THEREFORE, be it resolved by the City Commission of the City of Parkland, Florida, that; Section 1. Section 2. Section 3. That the City Manager or his/her designee, be and he/she is hereby authorized to transmit such funds to the State Board of Administration to be invested according to applicable laws of the State of Florida consistent with the needs of the City of Parkland. Such authorization includes authority to withdraw funds from the State Board of Administration by giving timely notice and appropriate confirmation. That this authorization shall be continuing in nature until revoked by the City of Parkland, Florida. That this Resolution shall be in full force and effect immediately upon its passage and adoption. PASSED AND ADOPTED THIS 21 DAY OF JULY 1993.