91-R-20RESOLUTION NO. 91-R-20
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF EDGEWATER, FLORIDA, AUTHORIZING TRANSMITTAL
OF FUNDS TO STATE BOARD OF ADMINISTRATION TO
RETURN HIGHEST YIELD; REPEALING ALL
RESOLUTIONS IN CONFLICT HEREWITH AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the City of Edgewater, Florida, from time to time has
funds on hand in excess of current needs; and
WHEREAS, it is in the best interest of the City of Edgewater,
Florida, and its inhabitants that funds be invested to return the
highest yield consistent with proper safeguards.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EDGEWATER, FLORIDA:
SECTION 1: 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
Edgewater, Florida. Such authorization includes authority to
withdraw funds from the State Board of Administration by giving
timely notice and appropriate confirmation.
SECTION 2: That this authorization shall be continuing in
nature until revoked by the City Council of the City of Edgewater,
Florida.
SECTION 3: That all resolutions or parts of resolutions in
conflict herewith be and the same are hereby repealed.
SECTION 4: That this resolution shall take effect immediately
upon its adoption by the City Council of the City of Edgewater,
Florida, at a Regular meeting of said Council held on the
6 day of May ,1991 , and approved as provided by law.
This resolution was introduced and sponsored by conncilperson
Gillespie and was read
and passed
by a
vote of the
City Council
of the City of Edgewater,
Florida,
at a
Regular
meeting
of said Council held on
the 6 day
of
May
199 1 ,
and authenticated as provided by law.
ROLL CALL VOTE ON RESOLUTION NO. 91-R-20 AS FOLLOWS:
CITY CLE
Approved this 6 day of
Mav 199 1
YOH
Approved for form:
MA V
ZONE ONE j,✓n
CUKCILPERSON - ZONE TWO
COUNYLPERSON - ZONE THREE
COUNCILMAN - ZONq FOUR
9
Res. No. 91-R-20