1995-31 Allowable Investment Activity
ORDINANCE NO. 31-95
AN ORDINANCE OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM
BEACH, FLORIDA, ESTABLISHING AND SETTING FORTH ALLOWABLE INVESTMENT
ACTIVITY FOR VILLAGE FUNDS; PROVIDING FOR THE REPEAL OF ALL
ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; RND,
PROVIDING FOR AN EFFECTIVE DATE.
BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH,
FLORIDA:
Section 1. The Village Council of the Village of North
' Palm Beach, Florida, does hereby set forth the allowable
instruments in which the Village may invest its funds:
1. The Local Government Surplus Funds Trust
Fund, or any intergovernmental investment
pool authorized pursuant to the Florida
Interlocal Cooperation Act, as provided in
Section 163.01 of the Florida Statutes.
2. Securities and Exchange Commission
registered money market funds with the
highest credit quality rating from a
nationally recognized rating agency.
3. Savings accounts in state-certified
qualified public depositories, as defined
in Section 280.02 of the Florida Statues.
4. Certificates of deposit in state-certified
qualified public depositories, as defined
in Section 280.02 of the Florida Statues.
5. Direct obligations of the U.S. Treasury.
6. Federal agencies and instrumentalities.
' The securities listed in paragraphs 3, 4, 5 and 6 shall
be invested to match investment maturities with known cash needs
and anticipated cash-flow requirements.
Section 2. All Ordinances or parts of Ordinances in
conflict herewith are hereby repealed.
Section 3. This Ordinance shall take effect immediately
upon passage.
PLACED ON FIRST READING THIS 12th DAY OF October 1995.
' PLACED ON SECOND, FINAL READING AND PASSED THIS 26th DAY OF
(lr+nhar , 1995.
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MAYOR
(VILLAGE SEAL)
ATTEST:
' VILLAGE CLERK
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