80-TRESOLUTION NO. 80
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF BOYNTON BEACH, FLORIDA, APPROVING
THE INVESTMENT ADVISORY SERVICE AGREEMENT
BETWEEN FIRST BANK AND TRUST OF PALM BEACH
COUNTY AND THE BOARD OF TRUSTEES OF THE
EMPLOYEES' PENSION PLAN OF THE CITY OF
BOYNTON BEACh, FLORIDA.
BE IT RESOLVED BY THE CITY COUNCIL OF TH~ CITY OF
A-
BOYNTON BEACH, FLORID .
Section 1:
68.10 of uhe city of Boynton Beach,
Board of Trustees (the "R a d"
~o r ), of
Pursuant to Section 7.11 of Ordinance
Florida, as amended, the
of the city of Boynton Beach,
directed to cause the pension
placed with First
the Employees'
Florida (the "Plan"),
funds held for the Plan
Bank and Trust of Palm Beach County
Pensmon Plan
is hereby
to be
to be
invested and reinvested by said bank in its discretion, said
bank to have sole responsibility for making said investments
within the guidelines provided by Section 20 of the Boynton
Beach Code, and the Board is authorized and directed to enter
into a contract with said bank to effect the foregoing including
ratification and approval of the prior Agency Agreemen~ dated
June 4, 1974, the acts thereunder, and including a provision
that the contract shall continue in effect notwithstanding any
change in membership of the Board or the city Council until the
bank has received formal notice of termination of said contract.
PASSED AAiD ADOPTED this
day of ~ , 1980.
CITY OF BOYNTON BEACH, FLORIDA
By:
Mayor
Vice Mayor
ATTEST:
(Corp. Seal)