1996-08-28 General Fund MeetingCITY OF OKEECHOBEE
GENERAL EMPLOYEE PENSION PLAN
TRUSTEE MEETING MINUTES
August 28, 1996
Meeting called to order at 7:15 pm. by Mr. L.C. Fortner, Jr.
Trustees Present: L. C. Fortner, Ricky Bonnell, Jerry O'Bannon, Roger
Jones, Lyn Lowe.
Others Present: Ernie Mahler of Smith Barney, Performance Monitor
Juan "J. C." Carlos Campuzano, Invesco,
Scott Christiansen of Christiansen, Dehner, P.A.
Motion was made by Jerry to approve minutes of May 22nd.meeting. Second
by Ricky. vote was unanimous and motion carried.
Motion was made by Jerry to approve expenses as outlined in agenda
packet. Second by Ricky. vote was unanimous and motion carried.
J. C. Campuzano gave report on quarterly returns. Overall they were good
in spite of the fact that the market showed a down side.
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.
Discussion ensued as to proposed dates for the Joint Pension Board
meetings for November 1996. It was decided that November 20th was the
day we would be looking at.
Scott Christiansen discussed the new Summary Plan Description and
explained that the board needed to approve this document before it went
to the employees.
Motion made by Lyn to approve the Summary Plan Description as drawn up
and presented in agenda packet. Second by Jerry. Vote was unanimous and
motion carried.
Meeting adjourned at 8:35 p.m.
L. C. Fortner, Chairm
L n Low , Secretary