04/21/1978
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'SUPPLEMENTARY
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PENSION
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CLEARWATER POLICE SUPPLEMENTARY PENSION
AGENDA
MEETING: BOARD OF TRUSTEES
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DATE:
Apl:'il 21, 1978
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TIME:
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10:30 A.M.
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PLACE: .
Conference Room, Police Department
Approval ,of Minutes of Meeting held February 21, 1978.
1. Report from Chief Daniels re election
results for two ~rustees
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2. Appointment by ,Trustees for City Commission;
'action and approval of one Trustee to fill
expired term of Mr. Donald Hibbard
3. correspondence received by Board ,of Trustees
from Mr. Shelby Kaplan, Provident Insurance
Company
4. Certificates of Deposit Maturity Dates:'
Clearwater Federal Savings and Loan
Association.
Maturity Date: April 26, 1978.
Presently earning 6.5% for one year.
Will be renewed automatically at same rate
unless notified otherwise.
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First Federai Savings and LQan of Largo.
. Maturity Date: 'April 30, 1978. Presently
earning 6.25% for one year; will be
renewed automatically unless otherwise
notified.
5. Ratification of Renewal of Certificates of
Deposit at First Federal, Clearwater, and,'
Guaranty Federal Savings and Loan.
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s, Secretary, Clearwater
Pension ,Fund.
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CLEARWATER POLICE SUPPLEMENTARY PENSION FUND
BOARD OF TRUSTEES MEETING held April "21, 1978.
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A meeting of the Board of Trustees was held on April 21,
1978 in the Conference Room of the Police Building, 644 pierce
Street, Clearwater, Florida.
The following Tr~stees were present:
CHARLES F., LeCHER, Chairman
FRANK DANIELS, Secretary
DONALD HIBBARD
RAY KAMINSKAS
WILLIAM SEDRICK
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Also present were Rick Griesinger, Assistant City Attorney,
and Betty Ward, Chief Danielsl secretary.
Chief Daniels welcomed Mayor LeCher to the meeting~ and explained
briefly the purpose of the Police Supplementary Pension Fund, and
that the Board of Trustees, in compliance with Florida State
Statute 185, consists of the Mayor of the municipality as Chairman,
the Chief, of Police as Secretary, two police officers elected by
the participants of the fund, and one resident of the municipality
to be recommended and appointed by the Board of Trustees, and
confirmed by the City Commission.
Mayor LeCher called the meeting to order at 10:30 A.M. and called
for approval of the minutes of the meeting held February 21, 1978.
Donald Hibbard made a motion that the minutes be accepted. Detective
Kaminskas seconded the motion. Motion carried unanimously.
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The first item on the agenda was a report from Chief Daniels
regarding the election results for filling the two trustee vacancies,
namely Ray Kaminskas and William Sedrick whose terms have expired.
Chief Daniels reported that Ray Kaminskas and William Sedrick were
re-elected by a majority of the Police Officers participating in
the Police Supplementary Pension to serve another two-year term
on the Board of Trustees. Their appointment was confirmed by the
City Commission at their meeting of April 6, 1978.
Item Number two on the agenda was the appointment by the Board of
Trustees of one Trustee to fill the expired term of Donald Hibbard.
Officer Sedrick made a motion that Donald Hibbard be nominated and
re-appointed to the Board for a two-year term as the "Resident"
,member of the Board of Trustees, subject to confirmation by the
City Commission. Mr. Hibbard stated that he would be agreeable to
serve on the Board for another term. Detective Kaminskas seconded
the motion. Motion carried unanimously. Chief Daniels advised
that he would notify the city Comnlission for their confirmation of
this appointment. Mr. Hibbard thanked the Board of Trustees for'
their confidence in him, and stated that he had enjoyed serving
on the Board. Mr. Hibbard has served as a Trustee since 1969.
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PAGE TWO
Clearwater Police Supplementary Pension Fund
MINUTES of ~eeting held April 21, 1978
Item Number three on the agenda was correspondence from
Shelby Kaplan, Pension Division, Provident Life and
Accident Insurance 'Company, Chattanooga regarding their
request for consolidation of local ordinances. Chief
Daniels called upon Rick Griesinger, Assistant City
Attorney, for his comments.
Mr. Griesinger stated that he had reviewed the
correspondence from Mr. Kaplan, dated March 10, 1978,with
regard to a consolidation of our local ordinances with
respect to the Supplementary Pension Fund. He further
advised that it was his view that the ,ordinances were
already consolidated; and he would recommend that the ,
Board 'take no action regarding this matter until further
research'could be made. Mr. Griesinger suggested that
it might be a advantageous to include Florida Statute 185
in the City of Clearwater tode Book. ' Officer Sedrick made
a motion that this request be tabled at the present time
in order for Mr. Griesinger to further review the subject.
Donald Hibbard seconded the motion. Motion carried
unanimously.
Item Number four on the agenda concerned the maturity dates
for two Certificates of Deposit. Betty Ward reported that
One $40,000.00 CD with First Federal Savings and Loan of
Largo will mature April 30, 1978 and will be renewed
automatically unless they are notified otherwise. Mrs. Ward
checked with First Federal of Largo and learned that new
one-year CD's were earning 6.5%, and since our present one
is earning only 6.25% Mrs. Ward recommended that the CD be
redeemed, and that a new one be purchased at the higher interest
rate. She also reported that the $40,000.00 CD with
Clearwater Federal Savings and Loan Association will mature
April 26, 1978 and that it will be renewed automatically for
one year at the same rate of interest, 6.5% unless they are
notified otherwise. Detective Kaminskas made a motion that
the CD at First Federal 'Savings and Loan of Largo be redeemed
and a new, CD in the amount of $40,000.00 be purchased at the
rate of 6.5% for one year, and that the CD at Clearwater
Federal be renewed at the same'rate of interest for one year.
Motion seconded by Donald Hibbard. Motion carr~ed unanimously.
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Item Number five on the agenda was the ratification of the
renewal of Certificates of Deposit at First Federal Savings
and Loan of Clearwater, and Guaranty Federal Savings and Loan.
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PAGE: THREE
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,'Chief 'D~niels offered for the record', letters from each. 'of <the'se~'
,:Associations, advising, the' ,Board,..,that the Cer'tifica tes 'of" D'ep'osit'
'had': been renewed at, :the same rate for one ,ye'ar. 'Officer, Sedrick
made a 'motion ,that. thes'e, transactions be ratified. Motion:
seconded by Detective Kamihskas. Motion 'carried'unanim~usly.
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Me~tirig wa~'~djourn~d at l1ioo A;M.
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