Broward County Commission Regular Meeting

MOTION TO CONSIDER adoption of a Resolution No. 2017-352 Amending the Administrative Code, the title of which is as follows:

A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF BROWARD COUNTY, FLORIDA,  PERTAINING TO SECURITIES ELIGIBLE FOR COUNTY INVESTMENT; AMENDING SECTION 22.84 OF THE BROWARD COUNTY ADMINISTRATIVE CODE ("ADMINISTRATIVE CODE") TO ALLOW INVESTMENT IN DEBT BACKED BY THE FULL FAITH AND CREDIT OF THE GOVERNMENT OF ISRAEL; AND PROVIDING FOR SEVERABILITY, INCLUSION IN THE ADMINISTRATIVE CODE, AND AN EFFECTIVE DATE.

 

(Sponsored by Commissioners Steve Geller, Nan H. Rich, Michael Udine, Chip LaMarca, and Dale V.C. Holness, and Mayor Barbara Sharief)
 

ACTION:  (T-10:55 AM)  Approved. (Vice Mayor Furr requested being added as a co-sponsor to this item.)   (Through Mayor Sharief, Commissioner Bogen requested being added as a co-sponsor to this item.)   (Refer to minutes for full discussion.)
 
VOTE: 9-0.

A Resolution directing the County Administrator to publish notice of public hearing to consider adoption of the Resolution Amending the Administrative Code was adopted by the Board of County Commissioners at its meeting of May 9, 2017.

Amends Section 22.84 of the Broward County Administrative Code.

Section 22.84 of the Broward County Administrative Code ("Administrative Code") currently lists the types of securities in which Broward County may invest.  In an effort to allow for an additional option, the proposed amendment would allow for investment in rated or unrated bonds, notes, or instruments backed by the full faith and credit of the government of Israel.