1998-11-09 General Fund MeetingCITY OF OFEECHOBEE/OKEECHOBEE UTILITY AUTHORITY
GENERAL EMPLOYEE PENSION PLAN
TRUSTEE MEETING MINUTES
November 9 1998
Meeting called to order at 7:10 PM. by Mr. L.C. Fortner, Jr.
Trustees Present: L.C. Fortner, Jr, Ricky Bonnell, Roger Jones,
Jerry O'Bannon and Paul Overton
Others Present: Ernie Mahler of Smith Barney, Performance Monitor
Juan "J. C." Carlos Campuzano, of Invesco and Scott Christiansen of
Christiansen. Dehner, P,A „
Ernie Mahler opened the meeting by giving a brief summary of the
last quarter. He stated that even with market as unstable as it has
been the report look's good because the number's are above the
benchmark,and he was very pleased overall. He also reported that
Wachovia & Smith Barney would produce a new report with corrected
numbers.
"J. C" reported that even though the quarter ended with a loss they
still beat the benchmark.He also stated that the bond's out
performed the stack's.
Scott Christiansen had no report's for the board but would be
avalible for question's.
L.C. Fortner ask the board to approve the minutes from the previous
meeting, approve expenses, new employees, retired employees and
terminated employees.
Motion by Jerry O.' annon, second by Roger Jones to approve minutes
and expenses as riported. Motion carried unanimously.
L.C, Fortner asked the board to review and approve The Summary Plan
Description.
Motion by Rorger'Jones, Second by Ricky Bonnell to approve the
summary description as printed. Motion carried unanimously.
Roger Jones, wanted to thank Jim Paul of the O.U.A for preparing
the finacial statements. He also wanted the board to consider
changing the split on stocks & bonds. No action taken.
The meeting dates for the coming year where set as follow's
Febuary 10,1999 @ 7:00pm
MaV 12,1999 @ 7:00pm.
Augest 11,1999 @ 7:00pm.
November 10,1999 @ 7:00pm,
No other bsiness. Meeting ajourned at 8:05pm.