1993-02-10 Police Fund MeetingCITY OF OKEECHOBEE
POLICE PENSION FUND MEETING
FEBRUARY 10, 1993
TRUSTEE'S PRESENT: LARRY MOBLEY, LARRY COONFARE, CATHY KOZOL,
JULIAN STINNETT & STEVE NELSON.
MEETING IS COMBINED WITH POLICE, FIRE & GENERAL EMPLOYEE'S BOARDS
PRESENT.
OTHERS PRESENT: SCOTT CHRISTIANSON AS LEGAL COUNCIL.
MEETING CALLED TO ORDER AT 6:40 P.M..
MOTION BY CATHY KOZOL TO ACCEPT THE MINUTES OF THE DECEMBER 10, 1992
MEETING. SECONDED BY JULIAN STINNETT. MOTION WAS UNANIMOUSLY CARRIED.
MOTION BY LARRY COONFARE TO UNTABLE THE READING AND APPROVAL OF THE
FINANCIAL EXPENDITURES. SECONDED BY KATHY KOZOL. MOTION WAS
UNANIMOUSLY CARRIED.
MOTION BY LARRY COONFARE TO APPROVE THE FOLLOWING EXPENDITURES:
$640.00 TO CHRISTIANSON, DEHNER & WATTS, ATTORNEY - $4185.86 TO
INVESCO, MONEY MANAGERS - $919.67 TO DiBARTOLOMEO, McBEE & SLOAN -
$1808.67 TO KRUSE,O'CONNER & LING. SECONDED BY CATHY KOZOL. MOTION WAS
UNANIMOUSLY CARRIED.
MOTION BY CATHY KOZOL TO APPROVE $6501.59 AS A REFUND TO TIMOTHY
MILLER AS A TERMINATED EMPLOYEE. SECONDED BY LARRY COONFARE. MOTION
WAS UNANIMOUSLY CARRIED.
MOTION BY CATHY KOZOL TO APPROVE JOHN T.RAULERSON AS A NEW EMPLOYEE TO
PARTICIPATE IN THE RETIREMENT PLAN. SECONDED BY JULIAN STINNETT.
MOTION WAS UNANIMOUSLY CARRIED.
SCOTT CHRISTIANSON INFORMS THE BOARDS OF APPLICABLE CHANGES IN THE
PROPOSED PLAN DRAFT. SCOTT FIELDS ANY QUESTIONS FROM THE BOARDS.
DISCUSSION IS HAD CONCERNING THE FIVE AND ONE -QUARTER (5-1/4%) PER
ANNUM INTEREST RATE EARNED ON EMPLOYEES CONTRIBUTIONS-, SCOTT FEELS
THAT THIS IS AN EXCESSIVE RATE AND IT IS SUGGESTED THAT THE BOARDS
PERHAPS LOWER THIS RATE. DISCUSSION IS HAD CONCERNING A POSSIBLE
REDUCTION IN THE PER ANNUM INTEREST RATE.
MOTION BY STEVE NELSON TO REDUCE THE PER ANNUM INTEREST RATE TO FOUR
PERCENT (4%). SECONDED BY CATHY KOZOL. MOTION FAILS TO CARRY.
MOTION BY STEVE NELSON TO REDUCE THE PER ANNUM INTEREST RATE TO FOUR
AND ONE -QUARTER PERCENT (4-1/4%). SECONDED BY LARRY COONFARE. MOTION
CARRIED WITH LARRY MOBLEY AND CATHY KOZOL CASTING A NO VOTE.
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CITY OF OKEECHOBEE
POLICE PENSION FUND MEETING
FEBRUARY 10, 1993
MOTION BY CATHY KOZOL TO ADJOURN THE MEETING. SECONDED BY JULIAN
STINNETT. MOTION WAS UNANIMOUSLY CARRIED.
MEETING ADJOURNED AT 8:15 P.M..
POLICE FUND CHAIRMAN
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POLICE FUND SECRETARY
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