Broward County Commission Regular Meeting

MOTION TO CONSIDER enactment of an Ordinance, the title of which is as follows:

AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF BROWARD COUNTY, FLORIDA, PERTAINING TO SECURITIES ELIGIBLE FOR COUNTY INVESTMENT; AMENDING SECTION 1-10 OF THE BROWARD COUNTY CODE OF ORDINANCES ("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 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-10:49 AM)  Filed proof of publication and enacted the Ordinance to become effective as provided by law.   (Commissioner Bogen and Vice Mayor Furr requested being added as co-sponsors 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 enactment of the Ordinance was adopted by the Board of County Commissioners at its meeting of May 23, 2017.

Amends Section 1-10 of the Broward County Code of Ordinances.

Section 1-10 of the Broward County Code of Ordinances ("Code") specifies the types of securities in which Broward County may invest.  The proposed Code amendment, if enacted, would allow for Broward County investments consistent with Section 218.415, Florida Statutes, including investments in rated or unrated bonds, notes, or instruments backed by the full faith and credit of the government of Israel.

James D. Rowlee, Senior Assistant County Attorney, 954-357-7600