Resolution 2007-257
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RESOLUTION NO. 2007 .257
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, PROVIDING RECOGNITION OF
SECTION 28.33, FLORIDA STATUTES AND CLARIFYING
RESOLUTION 2002 - 227 RELATING TO INTEREST ACCRUING
FROM MONEYS DEPOSITED WITH THE CLERK OF THE CIRCUIT
COURT
WHEREAS, Section 28,33, Florida Statutes, as existing as of May, 2002
provides as follows:
The clerk of the circuit court in each county shall invest county funds in
excess of those required to meet expenses as provided in s. 218.415, No
clerk investing such funds shall be liable for the loss of any interest when
circumstances require the withdrawal of funds placed in a time deposit and
needed for immediate payment of county obligations. Except for interest
earned on moneys deposited In the registry of the court, all interest accruing
from moneys deposited shall be deemed income of the office of the clerk of
the circuit court investing such moneys and shall be deposited in the same
account as are other fees and commissions of the clerk's office. The clerk may
invest moneys deposited in the registry of the court and shall retain as
income of the office of the clerk and as a reasonable investment management
fee 10 percent of the interest accruing on those funds with the balance of
such interest being allocated in accordance with the interest of the depositors,
WHEREAS, when Resolution 2002 - 227 was approved by the Board of County
Commissioners on the 14th of May, 2002, it was the Board's intent that all interest
earned on County funds invested by the Clerk of Courts of Collier County would be
returned to the Board in its entirety, except for the necessary costs associated with the
investment of the funds; and
WHEREAS, the past and present intention of the Board of County
Commissioners is that all interest earned by the Clerk of Courts on County money is to
be remitted to the Board on a monthly basis; and
WHEREAS, the Clerk of Courts has claimed entitlement to the interest earned on
County funds in his 2007- 2008 Annual Budget.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA that:
1. The Clerk of Courts of Collier County is authorized to invest County funds
pursuant to Florida Statutes, Section 28.33.
2. The Clerk of Courts of Collier County is not and has not been authorized to retain
the interest Income earned on Board funds,
3, All interest income earned by the Clerk of Courts of Collier County on Board
funds is to be returned to Board of County Commissioners on a monthly basis.
4, The interest earned by the Clerk on Board funds shall not be treated as fee
Income by the Clerk of Courts of Collier County,
5, The interest on public moneys collected by the Clerk of Courts of Collier County
on behalf of the County for subsequent distribution thereto and invested prior to
distribution must be credited to the County, along with the principaL
PASSED AND DULY ADOPTED by the Board of County Commissioners of
Collier County, Florida, this 1ih day of September 2007,
ATTEST:' ,<)!,,"I> '
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DWIGHT E. BROCK, CLERK
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FL RIDA
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c st 1$' to' ',' ftlty Clerk
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By:
JAMES COLETTA, CHAIRMAN
07-I056,CNI953
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