2000-11-08 General Fund MeetingCity of Okeechobee/Okeechobee Utility Authority Employee Pension Plan
Trustee Meeting
November 8, 2000
MINUTES
Meeting at City Hall called to order by Landon C. Fortner Jr. at 7:05 PM.
Trustees Present: Roger Jones
Lydia Jean Williams
Jerry O'Bannon
Landon C. Fortner, Jr.
Others Present: Scott Christiansen, Christiansen & Dehner, PA
Ernie Mahler, Smith - Barney
Tom Horkan, Invesco
John Flagel, Invesco
Jim Paul, OUA
Trustees of Firemen Board
Trustees of Police Board
Meeting was called to order at 7:05 P.M. in the Council Chambers at City Hall By Mr. Landon
C. Fortner Jr.
Tom Horkan of Invesco reviewed the investment report for period ending September 30, 2000.
John Flagel of Invesco reviewed the results from investing in stocks.
Ernie Mahler of Smith -Barney reviewed the reports and the rate of returns for the invested funds.
Equities were down slightly.
The Trustee boards agreed to set the following dates for joint meetings in 2001:
February 14, 2001
May 9, 2001
August 8, 2001
November 14, 2001
The proposed Investment Policy Statement was reviewed which includes changes requirred by
State Law. Ernie Mahler and Scott Chritiansen explained these changes. Motion by Roger
Jones to approve the proposed Investment Policy Statement with changes mandated by
14r State Law. Second by Jerry O'Bannon. Vote unanimous, motion carried.
It was noted that the next agenda should include discussion of changes to the Summary Plan
Description.
All trustees were reminded that Financial Disclosure forms must be filed by July I" of each year.
New Trustees, effective January 1, 2001, must file a form within 30 days of appointment/election.
Any trustee leaving the Board must file a form within 60 days of termination.
Scott Christiansen requested the board approve an increase in fees from $180.00 to $210.00 per
hour. Motion by Jerry O'Bannon to approve the increase in fees to Christiansen Dehner
from $180.00 to $210.00 per hour. Second by Roger Jones. Vote unanimous, motion
carried.
Motion by Jerry O'Bannon to approve minutes of meeting held on August 9, 2000. Second
by Roger Jones. Vote unanimous, motion carried.
Motion by Jerry o'Bannon to approve expenses, New Employees, Retired Employees and
Terminated Employees. Second by Roger Jones. Vote unanimous, motion carried.
With no other business the meeting was adjourned at 9:00 PM.
Respectfully Submitted,
Landon C. Fortner, Jr.
Chairman/Acting Secretary