Florida Statutes Part IV - Investment Of Local Government Surplus Funds (Ss. 218.40-218.422)

• 218.40 - Short Title.
  This part shall be known, and may be cited, as the “Investment of Local Government Surplus Funds Act.”History.—s. 1, ch. 77-394.
• 218.401 - Purpose.
  It is the intent of this part to promote, through state assistance, the maximization of net interest earnings on invested surplus funds of local units...
• 218.403 - Definitions.
  The following words or terms, when used in this part, shall have the following meanings:(1) “Board” means the State Board of Administration.(2) “Chief Financial Officer” means the...
• 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...
• 218.407 - Local Government Investment Authority.
  (1) Prior to any determination by the governing body that it is in the interest of the unit of local government to deposit surplus funds in...
• 218.409 - Administration Of The Trust Fund; Creation Of Advisory Council.
  (1) Upon receipt of the items specified in s. 218.407 from the local governing body, the board or a professional money management firm shall accept all...
• 218.411 - Authorization For State Technical And Advisory Assistance.
  (1) The board is authorized, upon request, to assist local governments in investing funds that are temporarily in excess of operating needs by:(a) Explaining investment opportunities to...
• 218.412 - Rulemaking Authority.
  The board may adopt rules as it deems necessary to carry out the provisions of this part for the administration of the trust fund.History.—s. 12,...
• 218.415 - Local Government Investment Policies.
  Investment activity by a unit of local government must be consistent with a written investment plan adopted by the governing body, or in the absence...
• 218.417 - Fund B Surplus Funds Trust Fund.
  (1) There is created the Fund B Surplus Funds Trust Fund within the State Board of Administration. Funds credited to the trust fund shall consist of...
• 218.418 - Definitions.
  As used in ss. 218.421 and 218.422, the term:(1) “Board” means the State Board of Administration.(2) “Surplus funds” means any funds in any general or special account...
• 218.421 - Fund B Surplus Funds Trust Fund; Purpose; Rulemaking; Administration; Reporting.
  (1)(a) The purpose of the Fund B Surplus Funds Trust Fund is to maximize the payout of principal on invested surplus funds of units of local...
• 218.422 - Fund B Surplus Funds Trust Fund; Review.
  Unless the Fund B Surplus Funds Trust Fund has been terminated by law or through self-liquidation, prior to the 2013 Regular Session of the Legislature,...

Last modified: September 23, 2016