§ 2-187. Findings.

It is hereby ascertained, determined and declared that:

(1)

It furthers the public interest for the county to invest any monies not immediately required to be disbursed and to maximize the net earnings on such funds.

(2)

F.S. § 125.31, provides certain limitations and regulations applicable to the investment of surplus public funds where not otherwise authorized by law or ordinance.

(3)

It is the intent and desire of the board to authorize additional investments for surplus public funds in order to seek a higher rate of return without compromising the safety of such funds and to provide by this division authorization for investment opportunities in addition to those set forth in F.S. § 125.31(1)(a) through (f).

(4)

The FCIT, the trustees of which are appointed by the Florida Association of Counties, Inc., and the Florida Association of Court Clerks and County Comptrollers, has been created for the purpose of establishing investment funds for pooling the surplus funds of participating public entities for joint investment in order to seek a higher rate of return without compromising the safety of such funds.

(Ord. No. 93-20, § 2, 11-2-93)