HomeMy WebLinkAbout16-207A[ael U 4 If i • —Ai _
RESOLUTION NO. 16-207A
A RESOLUTION OF TIME Board of County Commissioners [GOVERNING BODY] OF THE
St. Lude County, Florida [UNIT OF LOCAL GOVERNMENT] APPROVING THE
ENTRANCE iNTG AN INTERLOCAL AGREEMENT WITH OTHER GOVERNMENTAL
PARTICIPANTS FOR THE PURPOSE OF EXERCISING INVESTMENT POUTER 30INTLY
TO INVEST FUNDS IN CONCERT WITH OTHER PARTICIPANTS; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the St. Lucre County, Florida [Unit of Local Government] is permitted and has
the power pursuant to the provisions of the Florida Statutes, including but not limited to
Section 218.415 of the Florida Statutes, and its own local laws to invest certain of Its funds in
statutorily permitted investments, including but not limited to any intergovernmental investment pool
authorized pursuant to Section 163.01, Florida Statutes, as amended (the "Florida Irsterlocal
Cooperation Act"); and
WHEREAS, Sec. 163.01, Fla. Stat., authorizes a political sohdivicion, agency, or officer of the
State of Florida, including but not limited to stage government, county, r.lty, school district, single and
multipurpose special district, single and multi-purpose public authority, metropolitan or consolidated
government, a seriaratP legal entity or administrative entity created under subsection (7) of Section
163,01, Fla, Stat., or an independently elected county officer (each of the foregoing a "Local
Government Entity" or "Entity"), to exercise jointly with any other Entity any power, privilege, or
authority which such Entities share in common arid which each might exercise separately;
WHEREAS, the Florida Interlocal Cooperation Act authorizes the S4 Lucre County, noride [Unit
of Local Government], together with other local governmental entities, to exercise jointly any power,
privilege or authority which the local governmental entities share in common and which each might
exercise separately pursuant to a written Interlocal agreement; and
WHEREAS, Palm Beach County, Pinellas County, and Orange County 'Tax Collector, as initial
Participants (as such term is defined in the Interlocal Agreement described below), entered into that
certain Interlocal Agreement, a copy of which is attached hereto as Exhibit A (the "Interlaral
Agreement"), the purpose of which is to provide the St. LuGeCounty, Florida [Unit of [Local
Government] and each Participant which has executed or otherwise joined the Interlocal Agreement, a
substantial benefit by establishing the intergovernmental investment pool to be known as the Florida
Cooperative Liquid Assets Securities System ("FLCLASS"), which is an intergovernmental investment
pool as describer] in 5ectinn 218.415, Florida Statutes, as amended, in order to exercise such
investment power jointly and invest such funds in concert with the other Participants pursuant to the
Interlocal Agreement as authorized by the Florida Interlocal Cooperation Act in order to take advantage
of economies of warp and perform governmental functions more efficiently; and
WHEREAS, the SL Lucie county, Florida [Unit of Local Government] desires to join the
IntPriocal Agreement as a Participant, in order to exercise investment power jointly and invest funds in
concert with the other Participants pursuant to the Interlocal Agreement in order to take advantage of
economies of scale and perform governmental functions more efficiently; and
201 E. Pine Street, Suite 450 T 844-220-7600 clientservices@flclass.com
Orlando, FL 32801 F 844-220,7900 www,flclass.com
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WHERFAS, the policy of the Tntt-rinral Agreement ,hall be to place the highest priority on the
safety of principal and liquidity of funds, and the optimization of investment returns shall be secondary
to the requirements for safety and liquidity;
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners
the St. Lucie County, Florida [unit of Local Government] as follows:
[Governing Body] of
SECTION 1. The Interlocal agreement executed or otherwise joined by the Participants thereto,
a copy of which is attached to this Resolution as Exhibit AA and incorporated herein by reference.
SECTION 2. Pursuant to Section 2.4 of the Interlocal Agreement, the St Lucie county, Florida
[knit of Local Government] hereby joins the Interlocal Agreement as a Participant and agrees to be
bound by all of the terms and provisions thereof. The St. Line county, Florida [Unit of Local
Government] further agrees to file an executed copy of this Resole tion with the Clerk of C otirt of
St. Lurie Cnlmty_ Florida.
SECTION! 3, This Resol,itinn shall take effect immediately upon its filing with the Clerk of Court
of St, Lucie County, Florida.
PASSED AND ADOPTED IN PUBLIC SESSION of the Beam ac«,mrcomm""wwn of the
St. Lucie County, Florida this 15th day of November
Attest:
[Assistant] Secretary
2016,
Name: Kim Johnson
Its: 1
201 E. Pine Streei. Suitr? 4511 T 844-220-7600 c;ientservices@flclass.com
Orlando, Fl. 32801 F 844-220-7900 www.ficlass.com