Resolution 112-1993
Clerk of Courts
RESOLUTION NO. 112-1993
A 'ltESOLUTION AUTHORIZING MONROE COUNTY "PUBLIC AGENCY"
TO JOIN WITH OTHER PUBLIC AGENCIES AS A PARTICIPANT OF
THE FLORIDA ARBITRAGE AND INVESTMENT MANAGEMENT TRUST
BY EXECUTION AND DELIVERY OF A DECLARATION OF TRUST;
AUTHORIZING THE PUBLIC AGENCY TO INVEST IN SHARES OF
THE TRUST AND IN INDIVIDUAL PORTFOLIOS; PROVIDING
CERTAIN DETAILS; AND PROVIDING AN EFFECTIVE DATE.
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legislative or other governing bodies, two or mor~~~l~, g
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agencies by agreement may jointly exercise any power ~lIDII.8i\ ~ c
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WHEREAS,
Section 163.01 (4), Florida Statutes
local Cooperation Act") provides that,
the contracting parties; and
WHEREAS, Section 163.01(3)(b) of the Interlocal Cooperation
Act defines "public agency" to include any political subdivision
or agency of the State of Florida, including, but not limited to,
a county, school board, city, or special district of this state;
and
WHEREAS, Public Agency is a "public agency," as that term is
defined in the Interlocal Cooperation Act; and
WHEREAS, public agencies are authorized to invest surplus
public funds belonging to, or in the custody of, the public
agency in certain specified investments; and
WHEREAS, the Florida Arbitrage and Investment Management
Trust (the "Trust") was established as a separate legal entity,
pursuant to and in accordance with the Interlocal Cooperation
Act, by a Declaration of Trust, made as of April 10, 1992, (the
"Declaration of Trust") by The School Board of Escambia County,
Florida; the City of Lakeland, Florida; and the City of Fort
Lauderdale, Florida, as the initial participants of the Trust
(the "Initial Participants"), as a cotmDon law trust instituting a
separate legal entity by which public agencies may jointly
exercise their cotmDon power to invest bond proceeds, and to
secure related record keeping, custodial and Federal arbitrage
rebate calculation services; and
WHEREAS, pursuant to and in accordance with the Interloca1
Cooperation Act, the Public Agency desires to join with the other
public agencies, which are or will be Participants of the Trust
by adopting the Declaration of Trust, in the form which has been
presented to this meeting, by authorizing the approving the
execution of the Joinder of Participant Amendment to Declaration
of Trust (the "Joinder"), in the form which has been presented to
this meeting; and
WHEREAS, there has been present to this meeting an
Information Statement describing the Trust and the individual
portfolios to be managed by the investment advisor to the Trust
(the "Information Statementl1); and
WHEREAS, it is in the best of Monroe County (the "Public
Agency") to participate in the Trust and accomplish the purposes
set forth in the Declaration of Trust;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMI SS lONERS OF MONROE COUNTY, FLORIDA, the Pub 1 ic Agency, as
follows:
Section 1. The Public Agency is hereby authorized to
join with other public agencies to and in accordance with the
Interlocal Cooperation Act to execute the Joinder and thereby
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become a Participant in the Trust, which Joinder and Declaration
of Trust are hereby approved and adopted. A copy of the Joinder
and Declaration of Trust shall be filed with the minutes of this
meeting. The Mayor/Chairman is hereby authorized to execute, and
the Clerk is hereby authorized to attest and deliver the Joinder,
in substantially the form presented at this meeting.
Section 2. The Public Agency is hereby authorized to
purchase shares in the Trust from time to time with available
bond proceeds of the Public Agency, and to redeem some or all of
those shares from time to time as such proceeds are needed for
the purposes for which such bonds were issued.
Section 3. The Public Agency is hereby authorized to
invest available bond proceeds of the Public Agency from time to
time in one or more individual portfolios managed by the
investment adviser to the Trust and described in the Information
Statement.
Section 4. The appropriate officers, agents and
employees of the Public Agency are hereby authorized and directed
in the name and on behalf of the Public Agency to take all
actions and to make and execute any and all certificates,
requisitions, agreements, notices, consents, warrants and other
documents, which they, or any of them, might deem necessary or
appropriate in order to carry out the provisions of the
Declaration of Trust and to otherwise accomplish the purposes of
this Resolution.
Section 5. This Resolution shall take effect at the
earliest date permitted by law.
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PASSED AND ADOPTED by the Board of County Commissioners of
Monroe County, Florida, at a regular meeting of the Board held on
J..jj;h
day of
-maAA..h
, A.D. 1993.
the
Mayor London YP~
Mayor Pro Tem Cheal Yes
Commissioner Harvey Yes
Commissioner Freeman Yes
Commissioner Reich Yes
,l'
(SEAL)
ATTEST: DANNY L. KOLHAGE, CLERK
BYiJoaWC,~~
Clerk'
COUNTY COMMISSIONERS
OUNTY, FLORIDA
By
vifaimt
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JOINDER OF PARTICIPANT AMENDMENT TO DECLARATION OF TRUST
WHEREAS, Monroe County, Florida, (the "Public Agency")
wishes to become a Participant under that certain Declaration of
Trust (the "Declaration of Trust") established by The School
Board of Escambia County, Florida; the City of Lake1and, Florida;
and the City of Fort Lauderdale, Florida, as initial participants
dated as of April 10, 1992, as amended from time to time pursuant
to its terms;
NOW, THEREFORE, the unders igned Jack London and Danny L...
Kolhage, as Mayor/Chairman and Clerk, respectively, Of~, Monro~ -r\
County, Florida, do hereby declare for the Public AgeRy cJ:h~ r-
fo 110wing : ~ ~ ::D rt1
1'1~::z ::a 0
1. The Public Agency has adopted the Declaration a!n~s~ 6
by Resolution and a copy of Declaration of Trust has be~ ~1Jed ;0
with the minutes of the meeting where such Resoluti~n:a ~as~ ~
adopted. :" ~ x ....1 g
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2. The Public Agency is a public agency as def!iedrninc.n 0
Section 163.01(3)(b), Florida Statutes. 6 ~
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3. The Public Agency has authorized and approved the
execution of this Joinder of Participant Amendment to Declaration
of Trust (the "Amendment") by the Mayor/Chairman and Clerk of the
Public Agency.
4. By execution hereof by the Mayor/Chairman and Clerk of
the Public Agency, the Publi.c Agency agrees to observe and
perform all of its obligations under the Declaration of Trust.
5. The Public Agency acknowledges that execution hereof by
the Mayor/Chairman and Clerk of the Public Agency will constitute
execution of the Declaration of Trust as of the date hereof and
that the Public Agency will be bound by the terms of the
Declaration of Trust, as amended from time to time pursuant to
its terms, from the date this Amendment is filed with the clerk
of the circuit court of each county where a party to the
Declaration of Trust is located until the earlier of (i)
termination of the Declaration of Trust by its terms or by law or
(ii) proper adoption and execution of a Severance of Participant
Amendment by the Public Agency.
IN WITNESS WHEREOF, the undersigned have executed this
Amendment this J.!::hh day of '-fY)~ ,1993.
(SEAL)
ATTEST: DANNY L. KOLHAGE, CLERK
By~UC.~.D.C.
Cler -
COUNTY COMMISSIONERS
COUNTY, FLORIDA
~
a~rman
A
500 Whitehead Street
Key West, Florida 33040
STATE OF FLORIDA
COUNTY OF MONROE
The foregoing instrument has sworn to and acknowledged
before me this 18 day of MARCH ,1993, by Jack
London, Mayor/Cha1.rman of the Board of County Commissioners of
Monroe County, Florida, on behalf of Monroe County, Florida. He
is personally known to me or has produced
as identification and did take an oath.
My commission expires:
bu~
Print Name:
@ HL: rl ANN JANTZEN
Notcry 5T A TE OF FLORDA
Public My Conm Exp f21YJ/~
BONDED
RUTH ANN JANTZEN
Address:
500 WHITEHEAD STREET
KEY WEST, FL. 33040
(NOTARY SEAL)
~fjFORM
AND~ ~
BY 1
Attome($ Office
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