HomeMy WebLinkAboutR-85-30RESOLUTION
A RESOLUTION AUTHORIZING THE FINANCE DIRECTOR
TO INVEST SURPLUS FUNDS WiTH THE FLORIDA
STATE BOARD OF ADMINISTRATION
WHEREAS, th~ City of Sabastian from time to time has
funds on hand in exces~ of current needs, and
WHEREAS, tC is in the best interest of the City of
Sebastian and its inhabitants that funds be invested to return
the highest yield consistent with proper safeguards,
NOW, THEREFORE, BE iT RESOLVED AS FOLLOWS~
1. That the Finance Director be, and he/she is h~rebg
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 Sebastian. Such authorization
includes authority to withdraw funds from State Board of Administration
by giving timely notice and confirmation by letter.
2. That this authorization shall be continuing in nature
until revoked by the City Council of the City of Sebastian.
THIS RESOLUTION INTRODUCED AND ADOPTED bg the City Council
of the City of Sebastian at its regular meeting on Wednesday,
CITY OF SEBASTIAN, FLORIDA
Attest:
Deborah C. Krages
CitW Clerk