City of Gainesville - File #: 991447

• File #: 991447
• Version: 0
• Name: Investment of Funds in Florida Municipal Investment Trust (B)
• Type: Resolution
• Status: Passed
• File created: 5/22/2000
• In control: City Attorney
• Final action: 5/22/2000
• Title: INVESTMENT OF FUNDS IN FLORIDA MUNICIPAL INVESTMENT TRUST (B) A resolution of the City Commission of the City of Gainesville, Florida, authorizing the City of Gainesville to join with other local governmental units as a participant in the Florida Municipal Investment Trust for the purpose of purchasing shares of beneficial interest in the trust; providing a repealing clause; and providing an immediate effective date.

Date	Ver.	Action By	Action	Result
5/22/2000	0	City Commission	Adopted (Resolution)	Pass

title

INVESTMENT OF FUNDS IN FLORIDA MUNICIPAL INVESTMENT TRUST (B)

A resolution of the City Commission of the City of Gainesville, Florida, authorizing the City of Gainesville to join with other local governmental units as a participant in the Florida Municipal Investment Trust for the purpose of purchasing shares of beneficial interest in the trust; providing a repealing clause; and providing an immediate effective date.

recommendation

The City Commission adopt the proposed resolution.

explanation

A few months ago, the City Commission authorized investment of City funds in, among other things, investment trusts.  The attached resolution specifically authorizes the City to invest surplus funds in the Florida Municipal Investment Trust.  The Finance Director is authorized to execute the participation agreement and any other documents needed to facilitate the City's participation in the Florida Municipal Investment Trust.