1999-11-10 General Fund MeetingEm
CITY OF OKEECHOBEE / OKEECHOBEE UTILITY AUTHORITY
GENERAL EMPLOYEE PENSION PLAN
Trustee Meeting
November 10, 1999
Official Minutes
Meeting called to order by L. C. Fortner at 7:05 PM.
Trustees Present: Roger Jones
Jerry O'Bannon
L. C. Fortner
Others Present: Doug Wyatt
Scott Christiansen
Tom Horkan
Ernie Mahler
Jim Paul
Trustees of Police Plan
Trustees of Firemen Plan
�. Attorney Scott Christiansen discussed possible changes to Police and Fire Pension Plans.
Trustees were to obtain more information and send this to the attorney. Mr. Christiansen was not
feeling well and left the meeting at 7:25 PM.
Tom Horkan of Invesco discussed the current status of the stock and bond market and reviewed
the quarterly report. He also answered questions from those present.
Ernie Mahler of Smith -Barney reviewed his quarterly report and informed the Trustees that the
investment returns were good.
Tom Horkan and Ernie Mahler left the meeting after reviewing their reports.
Chairman Fortner called for a motion to approve the minutes of the August 11, 1999 meeting.
Motion by Jerry O'Bannon, second by Roger Jones to approve the minutes as presented.
Motion carried.
Motion by Roger Jones, second by Jerry O'Bannon to approve the new members, tenninated
members, payments to retired members and expenses for period ending November 5, 1999.
Motion carried.
The Trustees agreed on the following dates for meetings in 2000:
February 9, 2000
May loth, 2000
August 9, 2000
November 8, 2000
New OUA Trustee Doug Wyatt was introduced to everyone with his term beginning December
1, 1999. Lydia Jean Williams was elected as City Trustee. Roger Jones was also appointed for
2 years by the City and L. C. Fortner was appointed by OUA for 2 years. The four Trustees
must meet to select a fifth Trustee.
Jerry O'Bannon discussed the investment styles by Invesco and whether the Pension Plan
receives the best possible returns on the investments.
With no other business the meeting adjourned at 8:25 PM..
Respectfully Submitted
Landon C. Fortner, Jr.,