Resolution No. 817-23 Florida Safe Investment Pool

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RESOLUTION NO. 817-23 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ZEPHYRHILLS, FLORIDA, AUTHOMZING AND DIRECTING EXECUTION AND DELIVERY OF AN INDENTURE OF TRUST AND ESTABLISHING THE FLOMDA SURPLUS ASSET FUND; AND PROVIDING AN EFFECTIVE DATE. SECTION 1. DEFINITIONS. Unless the context of use clearly indicates another meaning or intent, the following words and tenns as used in this Resolution shall have the following meanings. "City" shall mean the City of Zephyrhills, a municipal corporation organized under the laws of the State of Florida. "Clerk" shall mean the City Clerk or such other person as may be duly authorized to act on his or her behalf. "Council" shall mean the City Council of the City ofZephyrhills. "FLSAFE or Trust" shall mean the Florida Surplus Asset Fund Trust. "Investment Fund" or "Investment Funds" shall mean one or more tmst funds established pursuant to the Indenture of Tmst to enable public entities to pool their surplus funds for joint investment. "Instrument of Adoption" shall mean the Instrument of Adoption between the City and the Florida SAFE, in substantially the form appended hereto as Exhibit A. "M:ayor" shall mean the Mayor of the City ofZephyrhills, or such other person as may be duly authorized to act on his or her behalf. "Resolution" shall mean this Resolution, as the same may from time to time be amended, modified or supplemented. "Indenture of Trust" shall mean the Indenture of Tmst, dated as of December 11, 2007, creating and establishing the Florida Surplus Asset Fund Tmst, as amended and restated as of July 13, 2012. SECTION 2. FINDINGS. It is hereby determined that: (A) It furthers the public interest for the City to invest any monies not immediately required to be disbursed and to maximize the net earnings on such funds. (B) The Florida Surplus Asset Fund Tmst has been established pursuant to the Indenture of Trust for the purpose of establishing one or more Investment Funds for pooling surplus funds of public entities for joint investment. (C) The City desires to have the Investment Funds available if they become an advantageous investment for the City's surplus funds; the Investment Policy adopted pursuant to Section 218.415, Florida Statutes, pennits investment in the Investment Funds established by the Florida Surplus Asset Fund Tmst. (D) The City is required to become a party to the Indenture of Tmst as a condition precedent to participation in any Investment Fund. SECTION 3. AUTHORIZATION OF INDENTURE OF TRUST. The Council hereby authorizes and directs the Council President to execute, and the City Clerk to attest under the seal of the City, the Instrument of Adoption for the purpose of becoming a party to the Indenture of Tmst and evidencing the City's agreement to become bound by the terms thereof. Upon execution and delivery of the Instmment of Adoption by the City and the Florida Surplus Asset Fund Tmst, all of the terms and provisions of the Instmment of Adoption shall be deemed to be a part of this Resolution as fully and to the same extent as if incorporated verbatim herein. The Instmment of 1 Page 430 of 483