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<br />RESOLUTION NO. 2006-~S <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AMENDING <br />RESOLUTION NO. 2005-861 TO APPROVE A REVISED <br />INVESTMENT POLICY OF THE CITY OF SUNNY ISLES <br />BEACH; PROVIDING THE CITY MANAGER WITH THE <br />AUTHORITY TO DO ALL THINGS NECESSARY TO <br />EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, Section 166.21, Florida Statutes provides the City with the authority to <br />invest surplus funds in certain securities; and <br /> <br />WHEREAS, The City Commission has the desire to invest surplus funds in accordance <br />with state law; and <br /> <br />WHEREAS, by adopting an investment policy the City will be able to earn higher <br />returns on its investments; and <br /> <br />WHEREAS, the City Commission wishes to revise the investment policy to include <br />ceIiain provisions. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Approval of a Revised Investment Policy. The City Commission hereby approves <br />the Revised Investment Policy attached hereto as Exhibit "A". <br /> <br />Section 2. Authorization of City Manager. The City Manager is hereby authorized to do all <br />things necessary to effectuate this Resolution. <br /> <br />Section 4. <br /> <br />Effective Date. This Resolution will be become effective upon adoption. <br /> <br />PASSED and ADOPTED this IB~ay of ~fW ,2006. <br /> <br />rywJ / <br /> <br /> <br />ATTEST: <br /> <br />~~~~ <br />Jane A. ines, MC, CIty Clerk <br />