HomeMy Public PortalAbout1999-72 Directing the manager to open an investment account with Florida Municipal Investment Trust (FMIT)RESOLUTION NO. 99-72
A RESOLUTION OF THE VILLAGE COUNCIL OF THE
VILLAGE OF KEY BISCAYNE, FLORIDA; DIRECTING
THE MANAGER TO OPEN AN INVESTMENT ACCOUNT
WITH FLORIDA MUNICIPAL INVESTMENT TRUST
(FMIT); PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, on July 30, 1999, the Village of Key Biscayne closed on the Civic Center $10
Million Bond Issue; and
WHEREAS, the $10 Million Proceeds will not be needed in the immediate period and can
be invested until needed; and
WHEREAS, the Village Council desires to invest the funds.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF KEY BISCAYNE, FLORIDA, AS FOLLOWS:
Section 1. That the Village Manager has selected an investment vehicle for safety and best
return for these funds.
Section 2. That FMIT, administered by the Florida League of Cities, Inc., P.O. Box 1757,
Tallahassee, Florida, is hereby selected to invest funds for the Village of Key Biscayne.
PASSED AND ADOPTED this 31st day of August, 1999
%i7/1w646,
CO ' A H. ALVAREZ, CMC, VILLAGE CLERK
APPROVED AS TO FORM AND LEGAL SUFFICIENCY
t Li -N 1
RICHARD JAY WEISS, VILLAGE ATTORNEY
MAYOR JOE I. RASCO