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04/28/1977 ~jf:;~; ,'{!":!;\!?;:~:~';."'J, ',:\:'i"7':" ti 'c"Y ,", I..' . ' ~ . ~).>t~ ; , , . i' :"1 \ ~ '. -t, ...~;.'. " ~::',.\~! . ,:.'1, ',,'j " l ~. >~' ~. . ~'. .'~ . . .:. ,~.::. "',' >.:i;.~ ;.j"~;t" . :.>;,.,,:..\~ :.::i, .:. ,\~C;~fn'(~:~?~!-1~" ':' .; ~:.:.:;;::,' : . ',I, :1, " I ,;~: ','"?[/( 'l::.~~':;( ., . :.'. '.'~.: . ,. . , , , '1 ;. '; ..:I~ i.:..f .~'. . . . '. ",:' \ , . " .. ~. .. ,. . . .'. . ~I :.:' /;:'.'~"'+~, ~ '.. i t" I'" " I / , .' " '" -: " > ~ ., .' .:. ~ I '. ";' F r:. ";~"",,, I .,fT . ..; . .\" ',': . i . '. <,: ":,' :"; .,,: ..; ", :. ~ " :?l' " '. ,',. '. . i~~mn..!;' ~'" ,.~ft.:~'.:~: ~-r./'.j.~ .......~ I <>,.,' . ~ ., ) . , . .. ~ .~. ....-l..:~ ......" ....... "",".,,~~ '>i. ,.,. . . ......,.,'. .' '~'I' . t .r." ..~ ", . :".t.~,) '"". .!-:..~~...l > < ..~"..}..'..h>\ T. ..> 1'.W-:'~\..1.f1.i"l.~~~,~ ,\ t,', t" ~ . '.l.' 'j " .; .l ... 'J:,' POLICE '11.' \' . SUPPLEMENTARY ",j . 'J ,PENSION . Minutes ." DA,TE Apr"/ &1 1/1'11 .' .~.';/ ,', o 1'7~ .,",.' , i "., .Cl,. ".\' ., .' . ,I, ",' '. "(;. >'."':';"':.:1 . " " , "',',' '.':;;' ,', ',:.t, ::'.:.':;i;:::':':, ,', ~>,':;,":.~,.",.:..".~:.:::.;,'.'.',:;: :'.'(".._~::.r,i',.~.':.q.":.::~,:<"...',. \:,: ;',>;,.":,.~:;.::':,.' ~,"'>.'::'~,'.';".:' \' "',,<.'<,..,.',:.:.':"..\,~:,':.\.'..~"<;.:~,':.".:, :.":~":",.'.:::: ..::.,.'l:,.,.:'.~'.';. ~2':.'.:"'."', . . ,.:'>.1<:.,;;,:' ~; ,'::<,:.~,'. .~.. :;. .....,..:..;:,:::: ,':<' . .:' ". .." .'. ., ,,' '., " '. :. ,I '. ' . ,--,; .' -", " ., , ~J' . .'., 'IZ:." '.. '..,'.'\.:..',:';.;::...,',.','.....:.\...,),;..~.'.'~.::."f":.';,.,:h,,,'.':.:':'.'..".":','::::"':',,>,'.!:'.:.!,~.~.\..',.:".:' ,< , . ' ,,;"'.' ':. .'.~': .,,':,1':.':;:';';: l,<- ,.':. .,.:,';; ','l>:~', ;>'. ,:,'-: ': \::::,.,. ....::..<,"..:;.: < ,:>'.,".:: ~".:" ,,' -. '-, . ' : .~.' . . .' " .... /;':~,:<\i . ~ ~} ::.t:-{i ).(,;T~'~''''C)'~ ~ J ~ ~ .:t.''',: ;,,"t:.hr' h;'"-( ~n__ ;',,'~ ~.. I~, I ~ . ':~ ~ ~..( ,...:., . I '. 1o' ~ . . !~t1.....,..:f+yr""~')~'~.'Ht; '~"'r J~."(f I""~ ". hcJ~'I:,1'~ ....r--:;...)1l......... "T"t\" ... ".C c'; tl~\O~":;~S;::}T';~';',:'::,"""!:':'t;",:x;>" ';, , > '; ~, . \. \' '" . , . ,.1+:< c, .; "...' :' ': ".::'~':!. ! '.: '/~.':!:tt';ri::;'.;/~ :;l\i:'(;:::"10~F?!;:~~~~~ ~ ~ . ~.~I:\~.~' }l:.:~....~ ~ ':r':I~;" ,: T. ,","., t ~~r">,'r:)'. ,', ,'," , <I ;.ta \ ~ . '.. . '.: " : .j.' .;.! I. 'X/,~~,'~.,': "," I, ',',J. ., ,~; " : .,' , ..' :;',.' ,~.: <::.~/) ,;)' ,.. ", t.;"I,};",;;' ;<:' , .." . '.' ,,' ";';;;:',',',;~ i,<:t:\'/:",.. . . ~J',A.ll.uf.r,'1},~,'(<h,f.tr,t-'i\tlt)..l:<"'''''~' . ' . , " ' fJMlf:J!J~~: ~ J{}. .~iJr~r;'fitd) J,.1.jl:~\."'.7;;,\ "'?~:~~~~5~~i,!;tt/~ft~~"~"""nTW . qit.,:: :". ' ,," ,'... ".. '.' ~'/::, ~;;~i:':' r;: c' ~i~::O' . j.~(; > ,'t"".,' .: ~,>I' t.rc:> ,. , , ". ,: .~ ;'.J ;7 ~~~~~'t: '. i .' t~"~ ~;: . I." ( ; , :.J " '.", . I ~, '. ,,< "," ,. ~I. . ': I, ::<;~ " , " . ,+ :1, , " ~ :.' .,'; ~.'c.!.;tr :~,:' ':,:': ~:'~~ j - ~ ""...: . , <1.1' ; .:.';: , . .' '. ' ~ '. ':l~"c "l' .,' j 0: . .' .' ;, . :, ~ . . ,J I .,cc' H, ' ('~; ., .. ~ " " .,1' .' . ,,', , \ ", .f .. ~ .. .,," . . " . I . . '. . , . . ~~..~ I v-,~:} ~H""'" 1,,1.,'. >!':.1~~!.",:::"\j.-'"~, :}.;'f"'J\~t1'r~ ~t:'"cr:'" ~~ ,,.~~.......:...,, ~.. ,.... "\._ c . ~ ': .\<J.{ . .:....;'H' ~~:'ill!.\'fJI~!r ". " '..i l~': : , '. ~ ~, . >>,,', f~:F'.;':''. ~.: ,~..:. ~', 't, . ~,~ . ;~ .1. , AGE~A, l.. :',- \~ ..' 1'.l '" " ' H.,' :~t: '. . ~ . ~} "j, ,,j:' ,I ~", > '. '1, : ?I:..~ : ':. . Clearwater polic e Supplemeni:7ary pens'ion Fund' .~,.: \ ~'~ :f;'::: '.:,. '}:'}{<':,>:. t'l': ' " '.,: ' . '~~:,:,;" "." M:ee:ting : Thursday, April.28, 1977 .3: 00 'P ;.M. Polrce Department Conference Room i, 'J , , .1 '. L , . ~.j > ' W/, '" ,~1 . I , ~." ~y(. ~' , i ! ., ' ,. Item 1., Approval of Minutes of Meeting held March 1, 1977 " ::':, . ,)"t ~:~:t: :.~' I, ~;: ; . . item' 2. I. Report. and (Certificates Review of Investments of :D~posit) " ..J , " \l~! ;,'~ I , I "':.0', " " . I, ~~~ " ,. .. I NK DANIELS, Secretary earwater Police Supplernen~ary Pension Fund " . ,: ..:. ,. .~, :, " " '., .,' " >, " ";. ", \;) >.' to' ;,\ '.\.' '. ." : > " " . . . ':::~5:\:~':::'~';":":~:'};;\";."';"';'i'".":'~':I:!'';' :';"'1..;.,.;:. ::n'" "~"",,, '.. , 'i . $ I I 'i t r-~ \ .1 ! ' . . > ' /.; , ;" ~ . .. ~- CLEARWATER POLICE SUPPLEMENTARY PENSION FUND MINUTES OF MEETING HELD APRIL 28, 1977 IN POLICE CONFERENCE ROOM '.1 A meeting of the Clearwater ~olice Supplementary Pension Fund was held on April 28, 1977 in the Conference Room of the Police Department, 644 Pierce Street, Clearwater, Florida. ." .\. ~ , The following Board members were present: "\'- ~" . . .1 ~ GABRIEL CAZARES, Chairman FRANK DANIELS, Secretary DONALD HIBBARD RAY KAMINSKAS. WILLIAM SEDRICK ,~. ., . !.. ~ I..i.... ~ /{~; ;:":',:- ...'to ~:~. ~ ~ , . Also present were Marybeth Lavallee, Assistant City Attorney, 'and Betty Ward, Chief Daniels' ,Secretary. :' "/ Mr. Hibbard was not present due to the fact that the First National Bank of Clearwater, in honor of Mr. Hibbard's reti~ement, had scheduled a surprise retirement party for him at 3:00 P.M. this date. .: ;,n, . .:.'\ " ~.' Mayor Cazares, Chairman, called the meeting to order at 3:00 P.M. and :"A\ ':":called for approval of the minutes of the last meeting. Officer Sedrick '-.' made a motion that the minutes of. the meeting held March 1, 1977 be approved. Motion seconded by Officer Kaminskas. Motion carried unanimously. :t.. . ':.;: ~~. ~':~ :.:. ",-;,', . 'I ~" < I' ." '.' .~ . . ~ : . , Chief Daniels distributed copies of a report prepared by Mrs. Ward outlining the transactions involving the Certificate of Deposit investments. In reviewing the report the Board noted a difference of several dollars in the interest figures of Security Federal and First Federal. Mayor Cazares suggested that Mrs. Ward ask Mr. Hibbard to explain the reason for the difference in these figures. Chief Daniels suggested that the Board invest a portion of the monies in the Barnett Bank savings account as the report shows a balance in that account of $59,704.12. Ther~ was a discussion as to whether to restrict the investments to pinellas County, and a discussion as to what period of time, and yield::the Board wished to pursue. . .," ..'. . .. . .~. ". l.,o'.i '.:::,~.;.i:::: '~~"';": :; ~.: : :.~. . '.<I~,~:: ~, " ~. t:~'J':I;jc '.,.'". .' .', :..:.:~/,'..~" ',~:>/,:.> , .( ." (:..:,~ . , v Officer Sedrick made a motion that the board purchase one $40,000.00 Certificate of Deposit at a local facility if possible, or elsewhere within the State of Florida, and for a period of no more than thirty months, with not less than 6 3/4% interest. Motion seconded by Officer Kaminskas. Motion carried unanimously. Miss Lavallee advised the Board that the.purchase of the Certificate of Deposit would have to be ratified by. the Board at its next meeting. Officer Sedrick then amended his motion to include this fact, motion seconded by Officer Kaminskas. Motion carried unanimous1y~ ~~:~ :', ':i1:< ,.,.... .'t < . '". ~ : < ~ ',' ".\ :' <"r'.<<'. :'l: . -.' i. .- :'........1:.. ....... :','::';"'\"';:":',:::'>., ..::...:.:/:'...., .' i, '1 :,.'::..'i:'.:.>:<~~:'~;,::::;<.~.\\~;:;~::::,:>:~,:;;.'~::, . "', ,., l' ." '''''', '.{i.:"::'<'\::;,:,;:, .,."'" ,,{;,/:,,~,;;::,,::;'::!.:;:/;:';;{;';\".i'~};:::?:'i ?+.'!;:;;t: :,:.; :;>\i;;>;Wft;...\;;r.*: ,,~;:!.,:)"";;:.":ji,..'H";,; ..,.."......,'........,'...'.. ",.,..,', ..', #..1'..."'..".,.......'.,. ",,' .J. ...'... I.."...,,, ". ..\.., .., ," , , :'~:,:....'...c.,;. ./>:.; ".,::::~: >~,,~'>(' .' 1'./" The Board then went back to Item #2. Chief Daniels read correspondence from phil Dunn, Pension Division, provident Insurance Company, regarding IRS news release concerning the requirement that governmental units file an annual return with the Internal Revenue Service. . Chief Daniels advised the Board that Marybeth Lavallee, Assistant City Attorney, was working on this, and that she had previously recommended that the Board hire a Certified Public ~ccountant to prepare these forms. Officer Kaminskas ~ade a motion that the secretary be authorized to do all things necessary to prepare and fi.le the IRS report and the report with the Department of Labor if necessary, and with a review by the City Attorney and t~ appropriate recommendations to this pension fund prior to filing the reports. Officer Sedrick seconded the motion. Motion carried unanimously. Meeting adjourne& 1:30 P.M. () -.. ~~~) :'.'..' .,' .:, j ,,~ ..~ . ~'; :. / . .' ~ " ....J; '. . ~ '..:'" ~">, c:.',:.:' ,<;"...t,/".'~ ':'>~~ ~",~~. :>:' ':.~, t, .:.~:~: _;'+"' :"~'/h,,..tJ:~"~1~ ....,.~...cJ:: ;~.4.1:;~~ . CLEARWATER POLICE SUPPLEMENTARY PENSION FUND Minutes of Meeting held June 23, 1977. Present were Mayor Gabriel Cazares, Chairman, Frank Daniels, Police Chief, Secre.tary, and Donald Hibbard, Officer Ray Karninskas, Officer William Sedrick. Also present was Betty Ward, Chief Daniels' secretary. Marybeth Lavallee, Assistant City Attorney, was absent. Meeting was called to order at 1:00 P.M. Item number one on the agenda was the approval of the minutes of the meeting helo April 28, 1977. 'Donald Hibbard made a motion that the minutes be approved. Motion seconded by Ray Kaminskas. Motion carried unanimously. Chief Daniels suggested that the Board take up Item #3 on the agenda in the event Miss Lavallee would arrive at the, meeting in time to discuss Item Number 2 relating to the IRS Forms. Item number 3 was correspondence from Shelby Kaplan of,Provident Insurance Company, Chattanooga, dated Jun~ 17, 1977, regarding methods which could be used to reduce life insurance increases. The Board discussed the correspondence and no action was taken. Chief Daniels advised the Board that Mr. Kaplan had indicated that if it would be desirable to have someone meet with the entire Board of Trustees and explain the details of the various ways of funding retirement benefits, they would be happy to send a representative fran their Home Office. '.. Item *4 was the formal approval of the purchase of One Certificate of Deposit in the amount of $40,000.00 from Tallahassee Federal Savings and Loan on May 3, 1977. Officer Sedrick made a motion that the purchase be ratified. Motion seconded by Donald Hibbard. Motion carried unanimously. " "J,' ;"1/ >\:. it ,I..: ". t.:' ., . ~ I FRANK DANIELS, Secretary .' , . ,'I .'~.;:::'..l:..':"~".' .,' ", ,.,,~L.I...,. '.t 'I', ,.." ," " , ,,", ,..', ....., ;:. : ":~!,~':!;,'~({!,,'}V'l'~:'Si\'J :. ~.~ .H::,.,,:,,,;;,:;.},:'}tt'~~::.'2;!:':S~;:::. .'.:':" :.', ,~:}: ;{~:' .,::f::': t,....:~X';.:..: ",;fi)'i; . '. \, """\,,".~,, I" .,',', ,.,", .,..... .- J ,:"".-;-.,. .1." .t., u,.' ",'''' ,'..-' . ".1:\ ~J~.':~~'~ ,I':'".' ~'.f',.l: :.;:./:}'.:,,::/ ).: ':.::_.~.:..:.>..:;.:...:. '.::.;'~'.'<'~\'~~""'::".":..:., .~.~:;: ...~:;:~i. ".' ;:i:'.<,'~ :u'~':".j' . ....".~ .' (, ~ >., ", .'r; :c::~: r'. ~ ~ ,..' }~:j ~~ ~1' . . ~ c . c'. ,". ~y::t:,,:;;~jl;'~'ir\?r"i\1::1'P ';~':" :'C'Y Y'}";","'::'>':"i[~<: .,,~,:; ,; I; ,') ,:: ", .,' ,'';,,'' '", ~~. .I~: ',,' :~~.,' . c\' c; ..~~ '.1 : ".' " . . ( , ,'.' . .~ '. ' . ",.j '". >~ , ~, r: 1\1 '".,., .' ,: ~ .. . . ". ':-:'~.:"<'.::,:.";':/. :':( ,:,'~'(:r~;~'::"::"':'J ';): t:,;:. .1;~.~,:.:t~~:~ , ':':.~:.(3. . ". ,.,.y .c "1' ~. . : ':-! 'cr' >,':.', . !:: ". . : ~':1,. .. ~ .'. I ,;~ . :,,'..' .... ~.< . , T" ,:', . i. '.. '<, / \~;:>>< .... ~":'" '::"'~ I':' , ' "" ,,':', ~: ", i. :.;' .".,,:.. , Y!;~.~.:,~:,~.i'.:.:',..<.::,"/:' ',' ,;., , :: ': '., .. . ., . .: "I. ", ',' ;'..,,:' '.. '.1 . '.', ',':, .. ;:>::,':::.' '~':"'.j:";;"Vi;'~"/i~~i',' I ;'" :,: . ' '. '. '. ~:r1~~~~,:~~~.~r~;~{lir"':~:ylt'$;~~~~~~'~;1;~;~\~~~;~c .~~~"~)..~H ':' .:4 _./' ~,'~. ~,.., ~ .. c ','. ,:t . ~"" :', ~ I > : :: ' .\ . '.: ' ,. , ' ,~ . , !. c .,. .{ .."'\"~ .....,.,";0... ,~,,~,..~<.'W_ ,...........1-'-~. ~, ...\ l ~ .....~GE 1"' 1\ ...TI:!Q. . .. .. . " . . '" \' . \~..J t;':"',~ Clearwater Police Supplementary Pension Fund : ! Minutes of meeting held April 28" 1977 :\ . " ~ Miss Lavallee reminded the Board that they must ratify the purchases of the Certificates of Deposit and all renewals which were included in the report dated April 28, ,1977 prepared by Mrs. Ward. (Original' of report attached to o'riginal of. these minutes). . Officer Kamin'skas made a' motion that the purchases outlined in the' April 28, 1977 report be. , ~atified. 'Motion seconded by Officer Sedrick.' Motion carried ~n~imously. \ ' ". ;, , , ',', I,.', .., :,..:"1' ';:',. :It ..... :',~' . . The Aud1.t of the' books by the fi:tin of Ttirnburke~! Brock and Gadney, for the year 1976.was received, and Officer Kaminskas .made a motion that the Board' accept the audit. Motion seconded by Officer Sedrick. Motion carried unanimously. 'I'" , '.' " :..,c/\ " ..... ~ 1 . . ':)' I' ' . \ . There being no further business, the meeting was adjourned at '3: 25 P.M. . ~ ' eSP;~~r, submitted ~~ . . '. ANIELS, Secretary, Clearwater Supplementary.Pensiori Fund 'r . , >....) :'. \ c ' ~ I. ' . ., ~ . .: j. t'..,:.{':'l>':';<' '. "'\"'; .' .' ~.' : " ,.c c' \'~ ':'~:';.:~ '. \ . ~:',,: f,~ .';", ',' .' : . ., I '.' " .' .::;:, .': ,'.": . .', ',:. ,'.',,"" H, :" ,". ,: ,".',".' ~:'\,'.': ,':',~ .~ ~'. ,:.' .. ~.: '.: ~<,-: ",,'.', "'. :.: ',' :,:' ~~.: .'. .~.',".~;.'.: :...~:,t,. '. .' "c '\', , .. ~ ">", ',\ .:....,:: ~'. ' ',;" ',' .... .,'\:,,~~..,f,';:;~';:;'::':,/:;::.:\::::':::(.' ,. '.... .' -- ,,'. . "" ' _. .' -.....,. \' "'.' ':','.'.,',',,". ..... , ...., '.... ...'..,'.... " .': :....~.. "',""',",:.< :':',':,'\'1 ':~",.:'.:,:, ..':">I.~.. .... :;"I~:;'I ~"", :.';':,"".' ."::::,,:', ./:. ,,:r,/ ,', .,,'; . ", ....." , '. ",.. .. 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