HomeMy WebLinkAboutResolution 2009-14 Temporary Investment PolicyRESOLUTION NO. 2009-14
A RESOLUTION OF THE CITY COMMISSION OF
WINTER SPRINGS, FLORIDA, AMENDING RESOLUTION
2008-56 REGARDING THE CITY'S TEMPORARY
INVESTMENT POLICY TO AUTHORIZE ONE
ADDITIONAL INVESTMENT IN THE CDARS PROGRAM;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City is granted the authority, under Section 2(b), Article VIII, of the
State Constitution, to exercise any power for municipal purposes, except when expressly
prohibited by law; and
WHEREAS, the City Commission has retained a new investment adviser pursuant to
Resolution 2008-51; and
WHEREAS, the investment adviser is preparing amendments to the City's investment
policies; and
WHEREAS, pending the proposed amendments to the City's investment policy, the
investment adviser has recommended that the City roll-over surplus funds currently invested in
CDARS back into the CDARS program for one additional 28 day period so the final revisions to
the amended investment policy can be finalized and presented to the City Commission for
approval; and
WHEREAS, the City Commission of Winter Springs also finds that this Resolution is in
the best interests of the public health, safety, and welfare of the citizens of Winter Springs.
NOW THEREFORE, THE CITY COMMISSION OF THE CITY OF WINTER
SPRINGS HEREBY RESOLVES, AS FOLLOWS:
Section 1. Recitals. The foregoing recitals are hereby fully incorporated herein by this
reference as legislative findings and the intent and purpose of the City Commission of the City of
Winter Springs.
Section 2. Additional Investment in CDARS. Section 1 (c) of Resolution 2008-56 is
hereby amended to authorize the City Manager to reinvest surplus funds one additional time in
CDARS pending the revisions to the City's Investment Policy.
Section 3. Effective Date. This Resolution shall become effective immediately upon
adoption by the City Commission.
City of Winter Springs
Resolution 2009-14
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ADOPTED by the City Commission of the City of Winter Springs, Florida, in a regular meeting
assembled on the 9`h day of February 2009.
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JO N F. BU~II, NF~or
ATTEST:
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An r Lorenezo-Luaces, City Clerk
Approved as to legal form and sufficiency for
The City of Winter Springs only:
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Anthony A. Garganese, City Attorney
City of Winter Springs
Resolution 2009-14
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