Resolution 97-9141�����,a�,
AGENDA MEMORANDUM
TO: DON'ORARLE MAYOR AND CITY COMMISSION
FROM: W. SHELTON SMITH, CITY ADMINISTRATOR
DATE: AUGUST 18, 1997
SUBJECT: RESOLUTION 97-914
RECOMMENDATION'
Adopt Resolution 97-914, authNi=g the City Wjoim older local govemmenlal mRN az a participant
m the Florida Municipal Invdanent Ttast for We ptuposeofpmchz g.IIR—ofb—Se ial interest
m the Trust.
Nat¢ Allofthe other forms necessary forJoluirtg III,T—are i-Ndedm the Cons.,, Agenda far
the Mayor's sigrtaiure.
BXPLANATI dp,,l KG—tT
The Flotide Mmdcipxl Inveshnemt'Lrustwas neared by We Florida League of Cltiesjus[ ovu a year
ago, and IT, proven to be a sound inva I —I valvola.
ERQQRAMjMLAQL
Adoption ,f this resolution would enable the City to join cithu ouc of their funds (Short- or
Intermediate -term Bond Portfolios) m such time zs Aifik— it prudent.
FISCAL IMPACT
The hishm v,,l,,bi, wild this invesnncnt pool should inoreasc our interest—,,gA but rho
amount ofthc nueasedependsontheamountinveated-
PREPARED BY cr"H Fr �-f-i- DJD
Monica D. Mitchell, Dlirw[or ofAdmmis km Servioes
SUBMITTED BY —7-="' daa
W. Shelton 8mi[I+, Crty Admiuislmtar