04/17/1981
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,POLICE
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SUPPLEMENT ARY
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PENSION
Minutes'
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DATE
April
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AGENDA
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.. CLEARWA'tER'POLICE SUPPLEMENTARY PENSION FUND,' MEETING OF APRIL 17, 1981
11: 30 A~M., in POLICE CONFERENCE ROOM.
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1.' Approval of minutes of meeting held March 13, 1981.
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Approval of invoice in amount of $100.55
from Provident' Life and Accident Insurance
Company covering life insurance increased
benefit for year' 1980, for George Ruppert.
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Ratification ofl certificate of Deposit
T:c:ansactions made by Betty Ward.
'4. Certificates of Deposit Maturin~.
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5. : Review of 'Semi-annual Payment to Betty Ward
for secretar'ial and bookkeeping duties. "
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SID KLEIN, Secretary
Board of Trustees
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CLEARWATER POLICE SUPPLEMENTARY PENSION FUND MINUTES OF MEETING
,"-'" cHELO APRIL 17, 19B1.
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A meeting of the Board of Trustees was held on April 17; 1981 in
,the Police Conference Room, Police Department, 644 pierce Street,
Clearwater, Florida.
The following Trustees were present:
CHARLES F. LeCHER, Chairman
SIn KLEIN, Secretary
DONALD HIBBARD
RAY KAMINSKAS
WILLIAM SEDRICK
Also present were Richard Griesinger, Assistant City Attorney, and
Betty Ward, secretary to Police Chief Sid Klein.
Mayor LeCher called the 'meeting to order at 11:30 A.M. and called
for approval of the minutes of the meeting held March 13, 1981.
Ray Kaminskas made a,motion that the minutes be approved. Motion
, seconded by William Sedrick. Motion carried unanimously.
The second, item on the agenda was approval of invoice in ~mount of
$100.55 from Provident Insurance Company covering life insurance
increased benefit for the year 1980 for Police Officer George
Ruppert. Chief Klein read correspondence from Provident dated
March' 23, 1981 stating that they had failed to include the 1980
increase since Ruppert's reinstatement was subsequent to the plan
anniversary date. William Sedrick made a motion that the invoice
be approved for payment. Motion' seconded by Donald Hibbard. Motion
carri~dunanimously.
Item number three on the agenda was the ratification of certificate of
deposit transactions made by Betty Ward. Mrs. Ward reported that she
had renewed the $50,000.00 money market CD at Freedom Federal Savings
and Loan on March 19, 1981 for six months. New interest rate of 12.346%.
, Donald Hibbard made a motion that the transaction be ratified. Motion
seconded by Chief Klein. Motion carried unanimously.
Item number four on the agenda concerned certificates of deposit maturing.
Betty Ward reported the following money market CD's would be maturing.
Fortune Federal S&L
Tallahassee Federal
Franklin Federal
$20,000.00
40,000.00
20,000.00
May 13, 1981
June 4, 1981
June 12, 1981
Donald Hibbard made a mot~on that all of the above CD's be renewed at
the best interest rate possible at maturity. Motion seconded 'by Ray
Kaminskas. Motion carried unanimously. '
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Minutes-Clearwater'Police Supplementary Pension Fund Meeting
held ,on April 17', 1981
,Page 2
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Item number five on agenda was a review of the annual pay~ent of
$650.00 to Betty Ward for secretarial and bookkeeping services.
Mrs. Ward was asked if she would like'to leave the meeting , while ,
the discussion took place. When ,Mrs. Ward returned to the meeting
she was a~vised by Mayor LeCher that the board had voted 'to increase
the ,annual payment to $1,000.00 payable semi-annually. William
Sedrick made the motion, seconded by Donald Hibbard. Motion carried
unanimously. Mrs. Ward thanked the board members.
Chie~ Klein read correspondence from Marvin Clayton, Director of
Municipal~olice Off~cers' Trust Fun~s, Office of the Treasurer,
Tallahassee in which he advised that the State Treasurer's office
" does not attempt to make nor have they made any' recommendations
to municipalities as to investment firms, and that any claim from
any firm,to the contrary is false. The board made note of the
contents of the letter and asked that it be filed.
Ray Karninskas made a report on' the recent meeting with Ron Earle,
'~ctuary, Prqvident Insurance and Shelby Kaplan, Ma~ager of Pension
Services, Provident Insurance, concerning the availability of their
investment services to..the Board.' This report was ,for informational
purposes only.
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There being no further business, the meeting was adjourned at 12:05 P.M.
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SID KLEIN, Secretary
Board of Trustees