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1989-11-13 General MeetingMinutes of Pension Board Meeting November 13, 1989 Those Present: General Employees - L.C. Fortner, Jr., Charles Elders, Rick Jordon, Roger Jones Police - Larry Coonfare, Jerry O'Bannon, L.C. Fortner, Jr., Steve Nelson Fire - Rick Holt, Keith Tomey, Clayton Williams, Bill Douglas Others present - Bernice Elders, Janna Woods, Rock Tate The meeting was called to order at 6:45 PM. The Board of Trustees met to discuss the hiring of a Money Manager and heard presentations from the following firms: 1. Wall Patterson 2. Investment Council 3. Davis Hamilton 4. Investco After discussion with each firm represented, the board of trustees heard from the representatives of Shearson Lehman concerning the past performance of each firm and their investments. After further discussion, a straw vote was taken to rank the firms as ##1 and ##2 based on majority of trustees present. The majority of the trustees selected Davis Hamilton and Investco. After further discussion the following motions were made: Firemen - Motion made by Rick Holt and seconded by Keith Tomey to hire Investco as the pension boards money manager. Motion carried. Police - Motion made by Larry Coonfare seconded by Steve Nelson to hire Investco as the pension boards money manager. Motion carried. General Employees --Motion made by Rick Jordon seconded by Charles Elders to hire Davis Hamilton as the pension boards money manager but was 2 yes and 2 no, motion did not pass. General Employees - Motion made by Rick Jordon seconded by Roger Jones to hire investco as the money manager. Motion carried. The trustees discussed the requirements for a custodian of the pension funds. Motion by Rick Holt seconded by Keith Tomey to designate C&S Bank as custodian. Motion carried. Motion by Larry Coonfare seconded by Steve Nelson to designate C&S Bank as custodian. Motion carried. Motion by Rick Jordon seconded by Charles Elders to designate C&S Bank as custodian. Motion carried. Meeting adjourned at 11:15 PM. These Minutes Approved and Adopted General Fund Chairman_(---�)'C L.C. Fortner, J . General Fund Secretary Charles Jo. fXbn Police Fund Chairman. !� Larry ley '✓ Police Fund SecretaryN�-^- r .C. or ' , Jr Fire Fund Chairman Rick H It c Fire Fund Secretary William Douglas �-