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<br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />RE: <br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue, Suite 250 <br />Sunny Isles Beach, Florida 33 160 <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />(305) 947-2150 Building Department <br />(305) 947-5107 Fax <br /> <br />City Commission <br />Norman S. Edelcup, Mayor <br />Roslyn Brezin. Vice Mayor <br />Gerry Goodman, Commissioner <br />Lewis Thaler, CommissIOner <br />Danny Iglesias. Coml1l1ssioner <br /> <br />A. John Szerlag, Cily Manager <br />Hans Ottinol. City AI/orney <br />Jane A. Hines, CMC, City Clerk <br /> <br />MEMORANDUM <br /> <br />The Honorable City commis~~ <br /> <br />Hans Ottinot, City Attorne\; 1 - <br />May 18, 2006 <br /> <br />Revised Investment Policy <br /> <br />Recommendation: <br /> <br />It is recommended that the attached Resolution be approved. <br /> <br />Reasons: <br /> <br />As you may recall, the City adopted its first Investment Policy recently. The initial policy did <br />not contain provisions relating to internal controls, continuing education, reporting, and a master <br />re-purchase agreement. These provisions are basic statutory requirements, which create a system <br />of checks and balances relating to the investment of surplus funds. Please note that the new <br />provisions are underlined. <br /> <br />HO/pr <br /> <br />/Attachment <br /> <br />Agenda Item <br /> <br />Date <br />