1997-03-19 General Fund MeetingCITY OF OKEECHOBEE
v""" GENERAL EMPLOYEE PENSION PLAN
TRUSTEE MEETING MINUTES
March 19, 1997
Meeting called to order at 7:15 pm. by Mr. Larry Coonfare.
Trustees Present: L. C. Fortner, Ricky Bonnell, Jerry O'Bannon, Roger
Jones, Lyn Lowe.
Motion was made by Ricky to approve minutes of Nov. 20, 1996 meeting.
Second by Roger. Vote was unanimous and motion carried.
Motion was made by Lyn to approve expenses as outlined in agenda packet.
Second by Jerry. Vote was unanimous and motion carried.
Bruce Bridges of Invesco gave report on quarterly returns. Overall
returns were good in spite of the fact that the market showed a down
side. Interest rates were down so performance is also down.
Ernie Mahler of Smith Barney gave quarterly overview of investments. He
showed that the performance had been good despite some negative turns on
the market. In all, a fair quarter.
Meeting dates were set for the year as follows:
Wed. Feb. 26, 1997
Wed. May. 28, 1997
Wed. Aug. 27, 1997
Mon. Nov. 17, 1997
Scott Christians explained that we are limited as to what types of stocks
we can invest in. The City may decide we no longer need to invest in only
quality bonds. This action would provide for more versatility and would
also allow for foreign investment
Meeting adjourned 8:45 pm.
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L. C. Fortner, Chairm
Lo , Secretary