1994-12-12 Police Fund MeetingCITY OF OKEECHOBEE
POLICE PENSION FUND MEETING
DECEMBER 12, 1994
TRUSTEES' PRESENT: LARRY MOBLEY, LARRY COONFARE
STEVE PADGETT & JULIAN STINNETT
OTHERS PRESENT: SCOTT CHRISTIANSEN OF CHRISTIANSEN DEHNER,
P.A., AS PLANS LEGAL COUNCIL
MEETING IS COMBINED WITH POLICE, FIRE & GENERAL EMPLOYEES
BOARDS PRESENT.
MEETING CALLED TO ORDER AT 7:02 P.M.
MOTION BY STEVE PADGETT TO APPROVE THE MINUTES OF THE
JULY 18, 1994 MEETING. SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
MOTION BY JULIAN STINNETT TO APPROVE THE FOLLOWING
EXPENDITURES: $722.00 TO CHRISTIANSEN DEHNER, ATTORNEY -
$5,157.88 TO INVESCO, MONEY MANAGERS - $149.00 TO
DiBARTOLOMEO, McBEE & SLOAN, FOR AUDITING SERVICES
RENDERED - $730.00 TO SMITH, BARNEY SHEARSON, PERFORMANCE
MONITORS - $663.32 TO KRUSE, O'CONNER & LING, ACTUARIES.
SECONDED BY STEVE PADGETT.
MOTION WAS UNANIMOUSLY CARRIED.
MOTION BY STEVE PADGETT TO APPROVE NATHAN STEWART AS A NEW
PLAN MEMBER. SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
MOTION BY LARRY COONFARE TO ALLOW ANY TRUSTEE WANTING TO
ATTEND THE SIXTEENTH ANNUAL POLICE OFFICERS TRUSTEES'
SCHOOL IN TALLAHASSEE ON MARCH 14 & 15, 1995 TO ATTEND AT
THE EXPENSE OF THE PLAN. SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
SCOTT CHRISTIANSEN REVIEWS THE INVESTMENT MANAGEMENT
AGREEMENT WITH ALL BOARDS. SCOTT ADVISES THAT THE
INVESTMENT MANAGER, (INVESCO), AGREES TO THE TERMS OF THE
AGREEMENT AND SCOTT FURTHER FEELS THAT THE FIRM,
(INVESCO), IS PERFORMING WELL ON ITS' INVESTMENTS.
MOTION BY JULIAN STINNETT TO ACCEPT THE INVESTMENT
MANAGEMENT AGREEMENT AS WRITTEN. SECONDED BY STEVE
PADGETT. MOTION WAS UNANIMOUSLY CARRIED.
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CITY OF OKEECHOBEE
POLICE PENSION FUND MEETING
DECEMBER 12, 1994
SCOTT CHRISTIANSEN REVIEWS THE INVESTMENT POLICY
STATEMENT.
MOTION BY STEVE PADGETT TO ACCEPT THE INVESTMENT POLICY
STATEMENT AS WRITTEN. SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
SCOTT CHRISTIANSEN REVIEWS THE CUSTODY SERVICE AGREEMENT.
BOARDS DISCUSS TERMS AND CONDITIONS Q. INSURANCE . IT IS
SUGGESTED THAT FIDELITY BOND SHOULD BE SET AT $10 MILLION.
MOTION BY STEVE PADGETT TO SET FIDELITY BOND FOR THE PLAN
AND TRUST IN THE AMOUNT OF $10 MILLION DOLLARS TO BE
STATED IN CUSTODY SERVICE AGREEMENT TERMS AND CONDITIONS
Q. INSURANCE. . SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
MOTION BY LARRY COONFARE TO ACCEPT THE CUSTODY SERVICE
AGREEMENT AS WRITTEN. SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
MOTION BY LARRY COONFARE TO ADJOURN THE MEETING. SECONDED
BY STEVE PADGETT. MOTION WAS UNANIMOUSLY CARRIED.
MEETING ADJOURNED AT 8:25 P.M..
POLICE FUND CHAIRMAN
POLICE FUND SECRETARY .
LARRY COONFARE