SUBJECT/RECOMMENDATION:
Title
Adopt resolution 22-01 Adopting the City of Clearwater’s Investment Policy per Florida Statute requirements.
Body
SUMMARY:
In accordance with Chapter 218.415, Florida Statutes, “Investment activity by any unit of local government must be consistent with a written investment plan adopted by the governing body.”
The Downtown Development Board, DDB, adopts the city of Clearwater’s investment policy yearly because the DDB does not maintain its own bank accounts, and its funds are held within the city of Clearwater’s accounts.
The city’s investment policy was adopted on September 9, 2010. If the city were to adopt a new investment policy during the year, the DDB would adopt the new policy by resolution at that time.