1989-06-19 General MeetingPENSION BOARD MEETING MINUTES
June 19, 1989
Those Present:
General Employees: L.C. Fortner, Jr., Charles Elders, Roger Jones,
Jim Kirk
Fire: Billy Douglas, Clayton Williams, Steve Weeks, Rick Holt,
Keith Tomey
Police: Larry Mobley, Larry Coonfare, Steve Nelson, L.C. Fortner,
Jr., Jerry O'Bannon
Others present: Rock Tate, Janna Woods, Harry Strunk of Shearson
Lehman Hutton, Reporter from Okeechobee News
Meeting Called to order at 7:15 PM
Shearson Lehman Hutton, provided copies of the performance
evaluation of the City's Pension Plans as required by State Laws.
Shearson Lehman Hutton discussed the rate of returns and how the
risk factors were calculated.
Shearson passed out to each trustee a suggested Request for
Proposal for Investment Advisory Services and a list of Money
Managers.
Shearson passed out to each trustee a summary of the Investment
Management Policies and Guidelines.
Shearson presented three contracts for their services to prepare
the Performance Evaluation and assist in the selection of
investment managers if requested by the trustees.
After discussion between the trustees and the representatives of
Shearson, the trustees of each pension plan ask several questions
concerning the process to select a investment manager.
Firemen Trustees: Keith Tomey made a motion to join with the
General Fund Trustees and Police Trustees to send out Request for
Proposals to the list of investment managers submitted by Shearson,
second by Clayton Williams. Motion carried.
Police Trustees: Larry Coonfare made a motion to join with the Fire
and General Fund Trustees and Firemen Trustees to send out Request
for Proposals to the list of investment managers submitted by
Shearson, second by Jerry O'Bannon. Motion carried.
General Employee Trustees: Roger Jones made a motion to join with
the Police and Fire Trustees to send out Request for proposals to
the list of Investment Managers submitted by Shearson second by Jim
Kirk. Motion carried.
The next meeting will be set early in August, 1989, to review the
Request for Proposals supplied by the investment managers.
These minutes approved and adopted
General Fund Chairman r C -
L.C. Fortner, Jr.
General Fund Secretary
hn Bennett
Police Fund Chairman
L Mobley
Police Fund Secretary
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L. . F e ,
Fire Fund Chairman
Rick Holt
Fire Fund Secretary�c��
William Douglas