Res 20-93 RESOLUTION NO. 20-93
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE TRANSMITTAL
OF FUNDS TO THE STATE BOARD OF ADMINISTRATION FOR
I NVE S TME N T.
WHEREAS, the City of Delray Beach, Florida, from time
to time has funds on hand in excess of current needs; and,
WHEREAS, it is in the best interest of the City of
Delray Beach, Florida, and its inhabitants that funds be invested
to return the highest yield consistent with proper safeguards.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the Director of Finance, or his/her
designee, be, and he/she 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 City of Delray Beach, Florida. Such
authorization includes authority to withdraw funds from the State
Board of Administration by giving timely notice and appropriate
confirmation.
Section 2. That this authorization shall be continuing
in nature until revoked by the City Commission of the City of
Delray Beach, Florida.
PASSED AND ADOPTED in regular session on this the 10th
day of March, 1993.
ATTEST:
~City C]~rk '
MEMORANDUM
TO: MAYOR AND CITY COMMISSIONERS
FROM: CITY MANAGER ~'~/!
SUBJECT: AGENDA ITEM # ~ - MEETING OF MARCH
RESOLUTIQN NO, 20-93
DATE: March 5, 1993
This is a resolution authorizing the transmittal of funds to the State
Board of Administration for investment.
The State Board is made up of a conglomerate of cities which send
their idle funds to be invested on a short-term basis. A resolution
is required in order to become a member of the Board. It appears, at
this time, the State is getting better results than can be achieved
at the local level with regard to interest earnings.
Recommend approval of Resolution No. 20-93.
Agenda Item No.:
AGENDA REQUEST
Date: 02-25-93
Request to be placed on:,
X Regular Agenda Special Agenda Workshop Agenda
When: 03-10-93
Description of agenda item (who, what, where, how much):
KesOlution authorizin~ the Director of Finance to transmit funds to the State
Board of Administration for investment.
ORDINANCE/ RESOLUTION REQUIRED: QNO Draft Attached: ~NO
Recommendation: Approval of Resolution.
Department Head Signature:~ . .~~
// ----
Determination of Consistency w~th ~6mprehensive Plan:
City Attorney Review/ Recommendation (if applicable):
Budget Director Review (required on all items involving expenditure
of funds):
Funding available: YES/ NO
Funding alternatives: (if applicable)
Account No. & Description:
Account Balance:
City Manager Review:
Approved for agenda: ~/ NO f~
Hold Until:
Agenda Coordinator Review:
Received:
Action: Approved/Dzsapproved
RESOLUTION NO. 20-93
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
DELRAY BEACH, FLORIDA, AUTHORIZING THE TRANSMITTAL
OF FUNDS TO THE STATE BOARD OF ADMINISTRATION FOR
INVESTMENT.
WHEREAS, the City of Delray Beach, Florida, from time
to time has funds on hand in excess of current needs; and,
WHEREAS, it is in the best interest of the City of
Delray Beach, Florida, and its inhabitants that funds be invested
to return the highest yield consistent with proper safeguards.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF DELRAY BEACH, FLORIDA, AS FOLLOWS:
Section 1. That the Director of Finance, or his/her
designee, be, and he/she 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 City of Delray Beach, Florida. Such
authorization includes authority to withdraw funds from the State
Board of Administration by giving timely notice and appropriate
confirmation.
Section 2. That this authorization shall be continuing
in nature until revoked by the City Commission of the City of
Delray Beach, Florida.
PASSED AND ADOPTED in regular session on this the 10th
day of March, 1993.
MAYOR
ATTEST:
City Clerk
INVESTMENT POOL SYSTEMS INPUT DOCUMENTATION
{one form must be filled out for each agency account}
~AGENCY ACCOUNT #
~OMPLETE ACCOUNT TITLE AND ADDRESS:
CITY OF DELRAY BEACH GENERAL FUND (001)
100 N. W. First Avenue
Delray Beach, Florida 33444
AREA CODE/TELEPHONE NUMBER (407) 243-7120 AGENCY FAX NUMBER (407) 243-3774
_ PLEASE CONTACT YOUR BANi(AND REQUEST THE FOLLOWING INFORMATION
BANK'S ABA ROUTING# 067-008582
NAME AND ADDRESS OF ROUTING BANK (Complete this section if your bank is not on-line with the Federal
Reserve and utilizes a correspondent bank or its main office for wires):
NAME AND ADDRESS OF YOUR BANK TO WHICH FUNDS SHOULD BE WIRED:
Barnett Bank of Palm Beach County
1001 East Atlantic Avenue
Delray Beach, Florida 33483
(Phone t~: 407-243-1916)
BANKACCOUNTNUMBER 1451029661
~INAME/TITLE OF PERSONS AUTHORIZED TO TRANSMIT OR WITHDRAW FUNDS:
! Joseph M. Sa£ford ......................................... Director of Finance
! Rebecca S. O'Connor ......................................... ITreasurer .
,Linda Harrover ......................................... Budget Administrator
~NAMEFI1TLE/SIGNATURE OF PERSONS AUTHORIZED TO NOTIFY US OF CHANGES IN ACCOUNT INFORMATION: ***All Change-. to Agency Information Must be Submitted Through the U~e of the Input Documentation Form'*"
"'This Local Government Agency requires I X 2 signatures for changes in account information (please check one)
i NA ME TITLE I SlGNA~E
' Robert A. Barcinski Asst. City Manager
~ Joseph M. Safford Director of Finance
. Milena L. Walinski Asst. Director of Finance
STATE OF FLORIDA [ ~LL CHANGES MUST ~E SIGNED SY
COUNTY OF Palm Beach [ INDIVIDUALS INCLUDED ON THE
[ MOST CURRENT PREVIOUSLY SUBMITTED
The foregoing instrument wes acknowledged before me tltis ~ INPUT DOCUMENTATION
-- day of , 19.___, by
who is personally known to me or who has produced
as identification and who did/did not i Authorized Signature #1
take an oath. (clr=l~ one}
(S~AL) '
Notary Public Authorized Signature #2 (if required)
State of FIodda
My commission expires: Title
FOR STATE BOARD OF ADMINISTRATION USE ONLY
CO0 Approval Date.
AGENCY ACCOUNT#
CO0 Approval Date.
Systems Input Date