1989-04-20 General MeetingMinutes of Trustee Meeting
General, Police & Fire Employees
April 20, 1989
Those present:
General Employee Trustees: Chairman - L.C. Fortner, Jr., John
Bennett, Chuck Elders, Jim Kirk and Roger Jones.
Firemen Trustees: Chairman - Rick Holt, Bill Douglas, Steve Weeks,
and Clayton Williams
Police Trustees: Chairman - Larry Mobley, Larry Coonfare, L.C.
Fortner, Jr., Jerry O,Bannon, and Steve Nelson
The meeting was called to order by L.C. Fortner at 8:10 AM.
Prior to this meeting a packet of proposals were hand delivered to
each trustee for their review. The following proposals were
received after the City of Okeechobee sent a request concerning
performance monitoring as required by State Law:
1. The Monitor Group
2. Cozad "Guidance Financial Corp.
3. Merrill Lynch
4. Shearson, Lehman, Hutton
5. Morgan Keegan & Co.
6. Prudential - Bache Securities
7. Smith Barney, Harris
8. Kidder Peabody & Co.
Fee
$ 2,450.00
$ No Specific Fee
$ 2,500.00
$ 4,000.00
$ 2,500.00
$ No Specific Fee
$ 3,000.00
$ 3,800.00
After a lengthy discussion, the following motions were made and
passed unanimously.
Police Trustees - Motion by Steve Nelson and seconded by Larry
Coonfare, to set May 4, 1989, 8:00 AM, as the next meeting date for
the trustees. Motion carried
Fire Trustees - Motion by Bill Douglas and seconded by Steve Weeks,
to set May 4, 1989, 8:00 AM as the next meeting date for the
trustees. Motion carried
'*MW
General Employee Trustees - Motion by Jim Kirk and seconded by John
Bennett to set the May 4, 1989, 8:00 AM as the next meeting date
for the trustees. Motion carried
After further discussion, the following motions were made by each
group of trustees:
Police Trustees - Motion by Steve Nelson and seconded by Larry
Coonfare to contact Merrill Lynch, Shearson Lehman Hutton and Smith
Barney Harris and request each firm appear at the next scheduled
meeting of the trustees, to present their proposal and answer any
questions of the trustees. The presentations to be twenty minutes
or less. Motion carried
Firemen Trustees - Motion by Clayton Williams and seconded by Bill
Douglas to contact Merrill Lynch, Shearson Lehman Hutton and Smith
Barney Harris and request their presence at the next meeting with
a twenty minute or less presentation concerning their proposal.
Motion carried
General Employees Trustees - Motion by Jim Kirk and seconded by
Chuck Elders to contact Merrill Lynch, Shearson Lehman Hutton and
Smith Barney Harris and request their appearance at the next
meeting with a presentation of 20 minutes or less. Motion carried
Larry Mobley, chairman of the Police Trustees, requested that each
trustee be provided a copy of the State Law and a copy of the City
Ordinances concerning the plan they represented.
Chuck Elders requested clarification on the status of previous
request of the Trustees concerning an amendment to the ordinance
which establish rules and regulations that if an employee dies the
Citys share contributed to the employee would go to the
beneficiary. It was stated that two request had been sent through
the administrators office and to the city attorney, requesting
these changes be put into ordinance form and presented to the City
Council. The suggested change to the ordinance had not been
received from the city attorneys office at this date. Mr. Jim Kirk
was asked to follow up on this item and find out if the amendment
to the ordinance is being worked on.
on