Item 6AAGENDA ITEM # 6A
APRIL 26, 2010
RESOLUTION NO.10-03
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,
FLORIDA, AMENDING THE INVESTMENT POLICY FOR CITY
FUNDS, AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, Florida Statute 218.415 requires the City of Atlantic Beach to adopt a written
investment plan relating to the investment of municipal funds, and
WHEREAS, Sec 2-73 of the Atlantic Beach Code, as amended by Ordinance no. 35-95-9,
effective September 25, 1995, authorizes the City Commission to adopt its written investment plan
by resolution, and
WHEREAS, the Director of Finance has proposed amending the current investment policy upon
recommendations of the Investment Policy Ad Hoc Committee appointed by the Mayor for the
purpose of making improvements to the policy, and
WHEREAS, it is the desire of the City Commission to adopt the revised Investment Policy,
provided it does not abrogate or conflict with any provision or covenant contained in any bond
resolution or ordinance of the City.
NOW THEREFORE, be it resolved by the City Commission of the City of Atlantic Beach,
Florida as follows:
Section 1. The City of Atlantic Beach hereby revised Investment Policy attached hereto, is
hereby adopted pursuant to sec 218.415, Florida Statutes, and Section 2-73, Atlantic Beach Code.
Sec ' ~ Nothing in this resolution or the attached investment policy shall be interpreted or
construed to abrogate or conflict with any specific provision or covenant contained in any bond
resolution or ordinance of the City relating to the investment of bond proceeds available in specific
funds or accounts.
Section 3. This Resolution shall take effect immediately upon its final passage and adoption.
PASSED by the City Commission this day of April, 2010.
ATTEST:
Donna L. Bartte, CMC
City Clerk
Louis "Mike" Borao, 3r.
Mayor, Presiding Officer
Approved as to form and Correctness:
Alan G Jensen, Esquire
City Attorney