Florida § 218.405 - Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.
Full text of Florida Florida Statutes § 218.405 — Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking., with citation guidance and answers to common questions.
§ 218.405. Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.
(1) There is hereby created a Local Government Surplus Funds Trust Fund to be administered by the board and to be composed of local government surplus funds deposited therein by units of local government under the procedures established in this part. The board may contract with a professional money management firm to manage the trust fund. (2) The primary objectives, in priority order, of investment activities shall be safety, liquidity, and competitive returns with minimization of risks. (3) The trustees shall annually certify to the Joint Legislative Auditing Committee that the trust fund is in compliance with the requirements of this part and that the trustees have conducted a review of the trust fund and determined that the management of the trust fund is in accord with best investment practices. (4) The board may adopt rules to administer the provisions of this section.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 218.405
What does Florida Statutes § 218.405 cover?
Section 218.405 ("Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 218.405?
A common citation format is "Florida Statutes § 218.405" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 218.405 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.