1994-12-12 General Fund MeetingCITY OF OKEECHOBEE
GENERAL EMPLOYEES PENSION BOARD
DECEMBER 12, 1994
The meeting of the City of Okeechobee General Employees Penkr.on
Board was called to order by L.C.Fortner, Jr., Chai ;rta,l, at 7:00
P.M.
Trustees present were L.C. Fortner, Jr., Jim Threewits, Jerry
O'Bannon and David Sorensen. Trustee Roger Jones was absent.
Also in attendance were two members and pension board attorney,
Christiansen & Dehner.
APPROVAL OF MINUTES: The May, June, July, a-ja October meeting
minutes were brought up for approval. Amotion was made by J.r_m
Threewits and seconded by Jerry O'Bannon to approve the minutes as
written. The motion was voted on and carried unanimously.
APPROVAL OF EXPENSES, NEW EMPLOYEES, RETIRED MI-LOYFFS & TERMTNATED
EMPLOYEES: A motion was made to approve '1e oxpe se , new
employees, retired employees, & terminated �-mployc:e,�, fr.o July 1,
1994, thru December, 1994, by David Sorensen. motion was
seconded by Jerry O'Bannon. It was voted on and gassed
unanimously.
APPROVAL OF INVESTMENT MANAGEMENT CONTRACTS W " H ' `*iESCO CAPITAL
MANAGEMENT: A motion was made to approve the investment management
contracts with Invesco Capital Management by Jerry O'Bannon. The
motion was seconded by Jim Threewits. The motion was voted on amAl
carried unanimously.
APPROVAL OF INVESTMENT POLICY STATEMENTS: A motion was j�:tade by Jim
Threewits to approve the Investment Policy Statements with Smith
Barney Shearson. The motion was seconded by David Sorensen, voted
on, and carried unanimously.
APPROVAL OF CUSTODY SERVICE AGREEMENTS WITH NATIONS BANK: A motion
was made by Jim Threewits and seconded by Jerry O'Bannon to approve
the custody service agreements with Nations Bank. The motion was
voted and carried unanimously.
TRUSTEES REPORTS AND REQUESTS: Jim Threewits reported that the
proposal to the City Council which was discussed at the special
meeting and discussed further at the October 20, 1994, b siness
meeting would be put on the agenda for the nFxt City Council
meeting to be held.
L.C. Fortner, Jr. , Chairman, informed the attorney Ghat the ,utility
authority was being formed and the what was going to ha-ppri with
the pension plan in the future was uncertain.
There was no further business for discussion. It was motioned by
Jim Threewits and seconded by David Sorensen to adjourn the
meeting.
Meeting adjourned at 8:10 P.M.
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L.C.Fornter, Jr.
Chairman
David Sorensen
Secretary