| 1 | Representative K. Roberson offered the following: |
| 2 |
|
| 3 | Amendment to Amendment (945997) (with directory and title |
| 4 | amendments) |
| 5 | Remove line(s) 8-93 and insert: |
| 6 | (7) In addition to the deposits authorized under this |
| 7 | section and notwithstanding any other provisions of law, funds |
| 8 | that are not needed to meet the disbursement needs of the state |
| 9 | may be deposited by the Chief Financial Officer in accordance |
| 10 | with the following conditions: |
| 11 | (a) The funds are initially deposited in a qualified |
| 12 | public depository, as defined in s. 280.02, selected by the |
| 13 | Chief Financial Officer. |
| 14 | (b) The selected depository arranges for depositing the |
| 15 | deposit of the funds in financial deposit instruments insured by |
| 16 | the Federal Deposit Insurance Corporation certificates of |
| 17 | deposit in one or more federally insured banks or savings and |
| 18 | loan associations, wherever located, for the account of the |
| 19 | state. |
| 20 | (c) The full amount of the principal and accrued interest |
| 21 | of each financial deposit instrument such certificate of deposit |
| 22 | is insured by the Federal Deposit Insurance Corporation. |
| 23 | (d) The selected depository acts as custodian for the |
| 24 | state with respect to each financial deposit instrument such |
| 25 | certificates of deposit issued for its account. |
| 26 | (e) At the same time the state's funds are deposited and |
| 27 | the certificates of deposit are issued, the selected depository |
| 28 | receives an amount of deposits from customers of other federally |
| 29 | insured financial institutions, wherever located, equal to or |
| 30 | greater than the amount of the funds initially invested by the |
| 31 | Chief Financial Officer through the selected depository. |
| 32 |
|
| 33 |
|
| 34 |
|
| 35 | ----------------------------------------------------- |
| 36 | D I R E C T O R Y A M E N D M E N T |
| 37 | Remove line(s) 5-6 and insert: |
| 38 | Section 1. Subsection (7) of section 17.57, Florida |
| 39 | Statutes, is amended to read: |
| 40 |
|
| 41 |
|
| 42 |
|
| 43 |
|
| 44 |
|
| 45 | ----------------------------------------------------- |
| 46 | T I T L E A M E N D M E N T |
| 47 | Remove line(s) 159-176 and insert: |
| 48 | F.S.; deleting a provision relating to concurrent deposits by a |
| 49 | unit of local government and customers of other federally |
| 50 | insured financial institutions; requiring that the Chief |
| 51 | Financial Officer and local governments deposit surplus funds in |
| 52 | financial deposit instruments insured by the Federal Deposit |
| 53 | Insurance Corporation rather than in certificates of deposit; |
| 54 | amending s. 218.415, F.S.; requiring that |
| 55 |
|