1991-08-14 Police Fund MeetingCity of Okeechobee
Police Pension Board Meeting
August 14, 1991
Trustee's present: Larry Mobley, Larry Coonfare and Steve Nelson
Meeting called to order at 6:35 p.m..
Meeting is combined with Police, Fire and General Employee's Boards present.
Janna Woods and Rock Tate of Shearson Lehman Hutton, the Boards performance
monitor, are present. They review Invesco's performance with the Plan funds.
Their review is favorable towards Invesco, it indicates that Invesco is
performing well with the investments.
Mike Matus of Invesco is present, he reviews his investment strategies with
the Boards.
Scott Christiansen, as legal council for the Boards, is present. He reviews the
proposed Plan Drafts for each individual Board. He indicates that each Plan is
nearing finalization, with some changes being needed as applicable by law. Drafts
of each Plan are to be sent to the City Administrator for review.
Police Pension Board then entertains the following motions.
Motion by Steve Nelson to accept the minutes of the April 01,1991 meeting.
Seconded by Larry Coonfare. Motion was unanimously carried.
Motion by Steve Nelson to accept bids for an actuarial firm so actuarial costs can
be evaluated. Seconded by Larry Coonfare. Motion was unanimously carried.
Motion by Steve Nelson to approve the following expenses, : $1537.25 to Christiansen,
Dehner & Watts, Attorney, : $3733.00 to Kruse, O'Conner & Ling, Actuarial, : $784.66
to Hill, Barth & King, Auditor, : $859.50 in misc. expenses. Seconded by Larry
Coonfare. Motion was unanimously carried.
Motion by Steve Nelson to pay Christiansen, Dehner & Watts, Attorney, $163.88
for professional services rendered. Seconded by Larry Coonfare. Motion was
unanimously carried.
Meeting of August 14, 1991 continued.
Motion by Steve Nelson to pay one/third of $7195.00 to Shearson Lehman Hutton for
*4000, the past two years of their professional services. Seconded by Larry Coonfare.
Motion was unanimously carried.
Motion by Larry Coonfare to adjourn the meeting. Seconded by Steve Nelson.
Motion was unanimously carried.
Meeting adjourned at 8:49 p.m..
Police Fund Chairma
Police Fund Secretary
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