Skip to Navigation | Skip to Main Content | Skip to Site Map

MyFloridaHouse.gov | Mobile Site

Senate Tracker: Sign Up | Login

The Florida Senate

Tracker has been temporarily disabled due to technical difficulties. We apologize for the inconvenience, however, the information on this website is accurate and complete.

2010 Florida Statutes

SECTION 405
Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.
F.S. 218.405
218.405

Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.

(1)

There is hereby created a Local Government Surplus Funds Trust Fund to be administered by the board and to be composed of local government surplus funds deposited therein by units of local government under the procedures established in this part. The board may contract with a professional money management firm to manage the trust fund.

(2)

The primary objectives, in priority order, of investment activities shall be safety, liquidity, and competitive returns with minimization of risks.

(3)

The trustees shall annually certify to the Joint Legislative Auditing Committee that the trust fund is in compliance with the requirements of this part and that the trustees have conducted a review of the trust fund and determined that the management of the trust fund is in accord with best investment practices.

(4)

The board may adopt rules to administer the provisions of this section.

History.

s. 1, ch. 77-394; s. 3, ch. 98-124; s. 3, ch. 2008-59.