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RESOLUTION NO. 2024 - nD 11 <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, <br />FLORIDA, APPROVING A REVISED INVESTMENT POLICY OF THE CITY OF SUNNY <br />ISLES BEACH, ATTACHED HERETO AS EXHIBIT "A"; AUTHORIZING THE CITY <br />MANAGER TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; <br />PROVIDING FOR AN EFFECTIVE DATE. <br />WHEREAS, Section 218.415, F.S., provides municipalities with the authority to invest <br />surplus funds; and <br />WHEREAS, the City Commission of the City of Sunny Isles Beach desired to invest surplus <br />funds in accordance with State law by adopting an investment policy to earn higher returns on <br />its investments; and <br />WHEREAS, on November 17, 2005 via Resolution No. 2005-861, the City Commission <br />adopted an Investment Policy, and subsequently revised via Resolution Nos. 2006-925 and <br />2009-1500; and <br />WHEREAS, the City Commission wishes revise the Investment Policy to incorporate <br />language regarding "pecuniary factors", including its definition. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES $EACH, FLORIDA, AS FOLLOWS: <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 />Section 2. Authorization of City Manager. The City Manager is hereby authorized to do all <br />things necessary to effectuate this Resolution. <br />Section 3. Effective Date. This Resolution will be become effective upon adoption. <br />PASSED AND ADOPTED upon this 18th d4 of Janu�ry, 2024. <br />` Lisa Svechin, M yor <br />ATTEST:; ` APPROVED AS TO FORM <br />AND LEGAL SUFFICIENCY: <br />Mauricio E6tanc6r, CM , City Clerk Alain E. Boileau, for Nabors, Giblin & <br />Nickerson, P.A., City Attorney <br />@BCL@ACOAE15E.doc Page 1 of 2 39 <br />