HomeMy WebLinkAboutRes 1978-11 Authorizing Participation in the Local Government Trust Fund1
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RESOLUTION NO. 11-78
A RESOLUTION OF THE VILLAGE COUNCIL OF NORTH PALM BEACH,
FLORIDA, AUTHORIZING THE PARTICIPATION IN THE LOCAL GOVERNMENT
TRUST FUND.
WHEREAS, the Village of North Palm Beach from time to
time has funds on hand in excess of current needs, and
WHEREAS, it is in the best interest of the Village of
North Palm Beach and its inhabitants that funds be invested to
return the highest yield consistent with proper safeguards,
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL
OF NORTH PALM BEACH, FLORIDA:
Section 1. That the Village Manager or his designee 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 Village of North
Palm Beach. Such authorization includes authority to withdraw
funds from State Board of Administration by giving timely notice
and confirmation by letter.
Section 2. That this authorization shall be continuing
in nature until revoked by the Village Council.
Section 3. This Resolution shall take effect immediately
upon passage.
PASSED AND ADOPTED THIS 9TH DAY OF MARCH, 1978.
ATTEST:
/s/ Dolores R. Walker
Village Clerk
/s/ M. C. Love, Jr.
MAYOR