§ 218.405, Fla. Stat. · Part IV. INVESTMENT OF LOCAL GOVERNMENTSURPLUS FUNDS
Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.
Text — 2026 Florida Statutes
(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.
Notes and commentary — not statutory text
History
s. 1, ch. 77-394; s. 3, ch. 98-124; s. 3, ch. 2008-59.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0218/0218.html
- Text hash
- sha256 198256dbdd044713aa48dbb03985296ee8f7efb41d76f33d8919cf6eacd349ad
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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Cited by 2 provisions
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