Broward County Commission Regular Meeting
Director's Name: Andrew J. Meyers
Department: County Attorney
Information
Requested Action
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MOTION TO ADOPT Resolution Amending the Broward County Administrative Code, the title of which is as follows:
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF BROWARD COUNTY, FLORIDA, AMENDING CHAPTER 22, PART XIII, OF THE BROWARD COUNTY (“ADMINISTRATIVE CODE”); PROHIBITING INVESTMENT OF COUNTY FUNDS IN SECURITIES OF COMPANIES ON THE SCRUTINIZED COMPANIES THAT BOYCOTT ISRAEL LIST; AND PROVIDING FOR SEVERABILITY, INCLUSION IN THE ADMINISTRATIVE CODE, AND AN EFFECTIVE DATE.
(Sponsored by Senator Steve Geller)
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Why Action is Necessary
A Resolution directing the County Administrator to publish notice of public hearing to consider adoption of the Resolution Amending the Broward County Administrative Code was adopted by the Board of County Commissioners at its meeting of May 24, 2022.
What Action Accomplishes
Allows for the Board's consideration of the Resolution Amending the Broward County Administrative Code.
Is this Action Goal Related
No
Previous Action Taken
Summary Explanation/Background
Section 22.84 of the Broward County Administrative Code sets forth the types of securities that the County may purchase using County funds for the County’s investment portfolio. This amendment would, except in limited circumstances, prohibit the County from investing directly in companies that are listed on the Scrutinized Companies that Boycott Israel List, as published quarterly by the State Board of Administration of Florida pursuant to Section 215.4725, Florida Statutes.
Source of Additional Information
Jacqueline Garcia-Arteaga, Esq., Chief of Staff, 954-357-7005
Fiscal Impact
Fiscal Impact/Cost Summary
There is no fiscal impact.