1990-01-29 General MeetingCITY OF OKEECHOBEE
PENSION BOARD MEETING MINUTES
January 29, 1990
Item # 1 - Meeting called to order at 7:10 PM
Trustees present:
Fire - Ricky Holt, Keith Tomey, Clayton Williams and Bill Douglas
General Employees - L.C. Fortner, Charles Elders, Charles Jordon,
Roger Jones and Jim Kirk
Police - Larry Mobley, Larry Coonfare, Jerry O'Bannon and L.C.
Fortner
Others present - Bernice Elders, Janna Wood and Harry Strunk
representing Shearson Lehman, Marie Camp representing C&S Trust Co.
and Bruce Bridges representing Invesco.
Item # 2 - Minutes of the trustee meeting of November 13, 1989,
were reviewed by the trustees.
Fire - Motion by Clayton Williams and second by Keith Tomey to
approve the minutes, motion carried
General Employees - Motion by Charles Jordon and second by Charles
Elders to approve the minutes, motion carried
Police - Motion by Larry Coonfare and second by Jerry O'Bannon to
approve the minutes, motion carried
Item # 3 - Agreement between the city pension plans and C&S Trust
was reviewed and discussed by the trustees. The agreement between
the city pension plans and Invesco Capital Management was also
reviewed and discussed by the trustees:
Fire - Motion by Clayton Williams and second by Keith Tomey to
approve the agreement with C&S Trust Co., motion carried.
Fire - Motion by Keith Tomey and second by Clayton Williams to
approve the agreement with Invesco Management, motion carried.
Police - Motion by Larry Coonfare and second by Jerry O'Bannon to
approve the agreement with C&S Trust Co. and Invesco Management,
motion carried.
General Employees - Motion by Charles Elders second by Charles
Jordon to approve the agreement with C&S Trust Co. and Invesco
Management, motion carried.
.r Item # 4 - The Trustees discussed the approval of the new
employees, terminations and expenses for period from October 1,
1989 through December 31, 1989.
The trustees discussed the amount of the expenses and the
requirement for the additional impact statements. The trustees also
discussed the amount of the general consultation bills from Kruse,
O'Conner & Ling.
The trustees requested the chairman of each pension board, appear
before the City Council and discuss these expenditures with the
City Council. The chairmen were to stress to the City Council that
any expenditures from the pension funds must be approved by the
trustees of the pension plan. Any expenses charged to the pension
plan not approved by the trustees will not be paid from the pension
plan funds. The trustees were also to request reimbursement from
the City Council for the additional impact statements completed by
Kruse, O'Conner and Ling.
Fire - Motion by Keith Tomey and second by Bill Douglas to approve
the new employees, terminate employees and expenses for the period
from Oct. 1, 1989 through Dec. 31, 1989, motion carried.
Police - Motion by Jerry O'Bannon and seconded by L.C. Fortner to
approve the terminated employees and expenses for the period from
Oct. 1, 1989 through Dec. 31, 1989, 3 voting yes 1 voting no,
motion carried.
General Employees - Motion by Charles Jordon second by Charles
Elders to approve the new employees, terminated employees and
expenses for the period from Oct. 1, 1989 through Dec. 31, 1989,
motion carried.
The trustees agreed that a letter should be delivered to the City
Council prior to the'chairmen appearing before the City Council in
a meeting. This letter would help explain the situation to the City
Council and give the Council opportunity to ask questions if they
need additional information prior to the City Council Meeting.
Item ## 5 - The Trustees discussed a trustee training school that
will be held in Tallahassee, March 20, 21, 1990.
Police - Motion by J. O'Bannon second by L.C. Fortner to send L.
Mobley and L. Coonfare to the 2 day schooling and cover their
expenses, motion carried.
Fire - Motion by K. Tomey and second by B. Douglas to send B.
Douglas and C. Williams to the 2 day schooling and cover their
expenses, motion carried.
Their being no further business, the meeting adjourned at 9:30 PM.
These Minutes Approved and Adopted:
General Fund Chairman-G
L.C. Fortner, r.
General Fund Secretary
Charles Jbrdon
Police Fund
La'r,rf Mobley"
Police Fund Secretary
L . Fj6 r t n e r :/i if .
Fire Fund Chairman
Fire Fund Secretar