O61-39ORDINANCE No. 61-39
AN ORDINANCE OF THE CITY OF BOYNTON BEACH,
FLORIDA, AMENDING ORDINANCE NO. 61-18 OF SAID
CITY RELATIVE INVESTMENT OF SURPLUS MUNICIPAL
FUNDS BY REDEFINING TERM "SURPLUS FUNDS".
PREAMBLE
This ordinance is deemed to be an emergency ordinance enacted
for the immediate preservation of the public peace, property, health and
safety of the inhabitants of said city and for the daily operation of the municipal
finance department of the CITY OF BOYNTON BEACH, FLORIDA, to avoid
loss of certain interest income relative surplus municipal funds.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
BOYNTON BEACH, FLORIDA:
SECTION 1. Section 3 of Ordinance No.
BOYNTON BEACH, FLORIDA, enacted July 17, 1961,
read:
61-18 of the CITY OF
is hereby amended to
"Section 3. For the purpose of this ordinance, the term
'Surplus Funds' is ~e~ired as funds in any general or special
account or fund of the CITY OF BOYNTON BEACH, FLORIDA,
held or controlled by the City Council of said municipality
which in reasonable expectation will not be needed for the
purpose intended within a period of thirty days from the
date of investment thereof, and which do not constitute
special funds which the investment thereof, in the manner
hereinabove prescribed, would be encompassed by any
contractural, statutory or other legal prohibition relative
thereto."
SECTION 2: Separability. Each of the provisions of this
ordinance are separable,
inclBding word, clause, phrase or sentence, and if
any provision hereof shall be declare invalid by a court of competent juris-
diction, the remaining provisions shall not be affected but shall remain in full
force and effect.
SECTION 3:
Re pealing Provisions.
Ail ordinances or parts of
ordinances in conflict herewith are hereby repealed.
SECTION 4: Effective Date. This ordinance is deemed to be
an emergency ordinance and shall take effect immediately upon passage.
Dated this ~ day of November, A. D. 1961.
(CORPORA TE SEAL)
CITY 0
BY
Mayor
Vice M .yor
/~ Councilman
City Clerk J-' '~ ~ ~)/~/~->-~'~'~~Councilman
Councilman
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