Fort Walton Beach Ordinance — 1875 amend investment policy — reading text

i READING DATE 1st 2nd ORDINANCE 1875 DISPOSITION AN ORDINANCE OF THE CITY OF FORT WALTON BEACH, FLORIDA, PROVIDING FOR THE INVESTMENT POLICY OF SURPLUS FUNDS; AND PROVIDING AN EFFECTIVE DATE NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA AS FOLLOWS: SECTION 1. AUTHORITY & INTENT The authority for enactment of this ordinance is pursuant to Section 218. 415( 16)( h) of the Florida Statutes. SECTION 2. PURPOSE The purpose of the City' s Investment Policy is to set forth the investment objectives and parameters for the management of the funds of the City of Fort Walton Beach. The Investment Policy is designed to ensure the prudent management of public funds, the availability of operating and capital funds when needed, and an investment return competitive with comparable benchmarks and financial market indices. SECTION 3. APPLICABILITY The Investment Policy applies to all funds controlled by the City in excess of those required to meet current expenses, with the exception of pension funds, funds related to the issuance of debt where there are other existing policies or indentures in effect for such funds, and Beal Memorial Cemetery Perpetual Care funds. Additionally, any future revenues that have statutory investment requirements conflicting with the Investment Policy and funds held by state agencies are not subject to the provisions of the Investment Policy. SECTION 4. REPEAL This Ordinance repeals Resolution 04 -20 adopting the City' s previous Investment Policy. SECTION 5. EFFECTIVE DATE This Ordinance shall take effect immediately upon appr val by the City Council. Mike nderson, Mayor Attes Approved for form, legal su fi Helen Spencer, qty Clerk Ha war ykes, Jr., C' Atto Additions are underlined; deletions are stfieken.  f+ 9M 9eS2t CITY OF FORT WALTON BEACH, FLORIDA W UNvw FLORIDA NOTICE OF PUBLIC HEARING NOTICE OF PUBLIC HEARING i A PUBLIC HEARING will be held on the following proposed ordinance at 6: 00 p.m. c ^ N; i; bened nme I oG o Tuesday, January 8, 2013, in the Council Chamber at Fort Walton Beach City Hall, l0 k*ina Proposed ordi_ F Tu nance t 6:00 p.m. on Miracle Strip Parkway, SW, at which time the City Council will consider its adoptiSj" 201 ir, arwry g i ON into law. The ordinance in its entirety may be inspected at the Office of the City Clei1 on ' during regular working hours. All interested parties may appear at the meeting and tL ton heard with respect to this proposed ordinance. for ORDINANCE 1875 of Wlllk `&. fide AN ORDINANCE OF THE CITY OF FORT WALTON BEACH, FLORIDA` PROVIDING FOR THE INVESTMENT POLICY OF SURPLUS FUNDS; AN] may Ar Parties ay appear at the PROVIDING AN EFFECTIVE DATE. meeting and be heard with respect to idis pro- posed ordinance. DIANGE 16M.- Any person who decides to appeal any decision made with respect to any matte INNE \'- F considered at such hearing will need a record of the proceedings, and for such purpos 7y ,_ may need to ensure that a verbatim record of the proceedings is made, which recor VZ ` F EiIDA, BEACH, PROVIDING includes the testimony and evidence upon which the appeal is to be based ( FS286. 0105) . F MENT THE POLICY INVEST OF AND The City of Fort Walton Beach adheres to the Americans with Disabilities Act and wi E c QTE. make reasonable modifications for access to this meeting upon request. Please call tl persdn who ' de- do- City Clerk, Helen Spencer at 850- 833 -9509 to make a request. For Hearing Impaired di. to appealiwiin de_ any, m r City Hall TDD 850- 833 -9925 or 1- 800 -955 -8771 ( TDD) or 1 - 800- 955 -8770 ( VOICE cto onde ' A rep- Requests must be received at least 48 hours in advance of the meeting in order to allo -h"ord"'", the proceedings, the City time to provide requested service. anti % r mom' . Stlah purpose to ensure ttlat a vetetatim record of the proceedings is made which record n- Gtidae teffitimony Helen Spencer and evide tce upon City Clerk be . ease P105)' 833 -9509 Thi! ,, i I..Fort Walton. Beach' s Hsres to the Amert lfn kh, Diaabil- dies Act and will make 64o0abte mqdiNca- tfons for access to this meeting upon request. Please call the City Clerk, Helen Spencer at 8504 ' 9509 to i UU or 1. 86 H my in order to allow`;the CKy thine to provide W quested service. Helen Spencer Lk 2!Lk