HomeMy WebLinkAbout1993-22 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.