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BOCC AGENDA ITEM
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| Item Title: | Public Hearing re: Investment Policy | | Date: | 9/25/2023 | | Department: | County Manager |
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| | | | | | | | | Background: | In May 1989, the Board of County Commissioners adopted Section 1-15 of the Nassau County Code of Ordinances regulating the investment of surplus public funds, pursuant to Florida Statutes Section 125.31. Since the initial adoption, Florida Statutes Section 125.31 has been rescinded and replaced with Section 218.415, which regulates local government investment policies.
Due to the statutory changes, updates and amendments to the County's investment policies and procedures are required. | | Request: | | Consider an Ordinance of the Board of County Commissioners of Nassau County, Florida, Amending Chapter 1-Administration. At Article I.-In General. to revise Section 1-15. Investment of Surplus Public Funds to conform with Section 218.418, Florida Statutes, Local Government Investment Policies; Providing for adoption of an Investment Policy by Resolution and in Conformance with Section 218.415, Florida Statutes; Further providing for codification; Conflicting Provisions; Providing for Severability Clause and an Effective Date. | | Financial/Economic Impact to Future Years Budgeting Process or Effect on Citizens: | | The policy provides for the preservation of capital invested, while providing for certain restricted liquidity and yield. | | Action Requested and Recommendation: | | Consider an Ordinance of the Board of County Commissioners of Nassau County, Florida, Amending Chapter 1-Administration. At Article I.-In General. to revise Section 1-15. Investment of Surplus Public Funds to conform with Section 218.418, Florida Statutes, Local Government Investment Policies; Providing for adoption of an Investment Policy by Resolution and in Conformance with Section 218.415, Florida Statutes; Further providing for codification; Conflicting Provisions; Providing for Severability Clause and an Effective Date. | | Is this action consistent with the Nassau County Comprehensive Land Use Plan? | | NA | | Funding Source: | | N/A |
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| Additional Information Needed for Contracts/Agreements (If Applicable) | | | Contract Number assigned by Contracts Management: | | N/A | | For non-governmental agencies, has the document been sent to the vendor for signature? | | N/A | | Does the document need to be recorded? If so, who will pay the recordation fee? | | N/A | | Are there any special mailing instructions? (Include contact name, address, deadline for submittal, how to mail such as express mail, FedEx, etc): | | N/A | | How many originals are needed? | | Email executed documents to OMB and the County Manager's Office. |
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| ATTACHMENTS: | | Description | Upload Date | Type | | Ordinance | 9/19/2023 | Cover Memo | | Resolution | 9/21/2023 | Cover Memo |
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