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03/17/1982 ole. .." r',.. '. ". I. "~I i". .' i '~;. : : ~i: ~~i::.r~'~'~~r~i:~f:"""!::i.i;;'.~;';';:::'\\:.:";~r~~":'.:';':;'.','" :,.~.:l, ~ '~~ . I.' 'I"~ : :e ~~>?; '~~.:.!! )L?\>~~<~.';:. ~:.. ~:'1~~~,~,:~2~' }'~ ~;, ::::;",~~r~ ~ . .. , ~r . ....;:.)i~~J ,', , '. ,r, "1." . \ .' ~ ' .., , ,. :\ ~ . \~; \:':~'" "'. .' :.'1:' ; , i: ":~';-: ' f"~ :.. :.l r..' :/: ," , . f ,~ " ' "". \o-L ., ..,1' , , , . ~ ," .\:~)l~ K!~':,:.: :,.\~:,:;~,i ' ~!'j:;ii .';\~, ~'... ~. . . " e , . ,,'f!, \<~ ." < :'. ..:.1 " . ,I.'..> ': J I '+ \ .}'. ,I. :" ,if:: '; '..; /Ijl~ " :::: .~ /,:, , ., ~~ "1:" " t.. . ~, :,; :' . ~ " ~ I [:' ,. ',\ ,. '. ~ . '. "I "!, r ~e' e " " . '.,t. :' . ~. '.' , .. . , . , <.:' T >~ . " y'": . " .: ," ., . ,I,,; . :.~ ."~~ I; :~. t,., ,I,' : . . ,.' . . "'l : ~, ~~~'''+.:'''''''''''''''''''''''''''.~':-I"'T , '.'e . ... " .\.. .\,' ' " e') ; ,,::, , ., ...-......'1:..., l, '. ,. :~. : , . ,." J ~.r. , ~.. ......,.:................~. . ! . ~ I ~: \ .I " . .', "., . . ~ ,.'. :' c., ;, " . ~ .~..,-+.u.........._. _.... ~n"''',,~, ~.'L. ;",' ;i ~ ~ I. .1 . ~ c! t! I';;'; (,e,: " , " ' , ., , " ,,' ':', ,; " ., " " 'll.' . 'I ,', ,- POLICE 'f"," : . , ~ ~ , ',' :SUPPLEMENTARY '.' ,', r .:-, 'f \ r, " , '! PENSION I.' .' " Minutes' ",( " ' " , " '. : ~ ~ f' ., r ,DATE r .,' ,3/~ "," '. , . , " ,,' " :\ ., 'j' ,. ,> I,: " ... .(. , , .-'~:~::~.~'~;"~':~:~~7~Z;G;~s~i;~~0:7:~t::. ~,::)j~~~':'::" " " .~ ~ _ ....,.,,_~ 'to ....~_..."'I..~ ~_.. ::' . ~. ;... '"" , ~H ~"I" . ,':' . '. ~ ' .. ". . . .;.. '. I.. .: , < ~' " \ :f~e:.' ,:;.~~'.'"~,'~" ";""':'.:l'\'~"":: \." ."1,.....'>>; .+..el..< '....... ,.. ,',;.." .,' I~.. " " ... .....,',., I,"~I:"""~".I' ) '" " ,',;: ,::;-".::::',,' ";:~,:::..,;':;~.:.,:~; ". ",.. ...i;,'i ',"',~:\i'.,<. .... >i:: {~'X;:i :::.... .'. ~. .... .'l""" .... ,:"l;',: "",':,'121'.1 ~.':: . 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' ' ,.. , ," . . " ' . , I,'.:' ,',. ,'.:,.."<X..,.;.;,.':...::.'.;t':' ,,::..:,,' , .. .. . c .. d. .' .~: '.:: , .~." ,:' -: . .' . <" I .'~~.~:.,~.:.~2L,.~~".~:,.~~~~~~,~~~.;:.:.t.:,..,[:~rr,'"...,~'" IL:.L.,,~,. .:..~:~.:,.;;'.;~.;..:"~: c,,",..~..:":~~..~._.......:.'..r :n"; ',. ,."n~ ..m,. .~.:,:,,: .~..~,_,:_..~.".. :.: ' :/11.>., , :'. :'/" ,.;.'. ' , . , '.'0', . <)~:~~~ '....'. , '\. ,~ . " . ~ I . . l.c t .. ,.....~.,.~,,..,.......--\I ""L..1.,....f\~~ , 'h If'I~' . .+; ., . :~. ".c' 1>1 J.'< ~ ; ; ~ ~ t~ . r,.., .\ c. . ,:~~: ">-I" , l"~ . .1' -F') . . "<t?; , ,.. i":"'\ ':c. ;:' ,~<.~"{.. j' " '.'. AGENDA. , '. . '. .: i! ,. ,,< , i Meeting of Clearwater Police Supplementary Pension Fund to be held' Wednesday I March l7 ,1982 at 3: 30 P .r1. in Police Conference Ro om. . ' .".:i " '..'': :~: " . 'I( .:'1 " " " '1. . Approval of Minutes of meeting held February 12, 1982. 2. Certificates of Deposit Maturing. . i., :. . 3. Ratificatipn of 'Certificate of Deposit Trans~ction. , Recommendation from E.W. Sive~ and Associates, dated. ,February 17, 198,2, concerning proposed amendment to Provident Master Contract. '" 4. : r .; 't.' . :(:. 'Legal Opinion by Richard Griesinger, Assistant City Attorney, regarding Siver's report. 5.,. Semi-annual payment to Betty Ward for bookkeeping and .secretarial services. ." " , e\' :..1; ".. P'I..' ':," \ ~ c! ".~ 'f , ~ ~,:' \,: ' ',. .' . '::'..: " . ,..> J~~' SID KLEIN, Secretary ,Board of Trustees .. :. ~ . t :,;';1: }d. ,.. " . . '. \~ '.,' . l~. f ,~. : " <~ '. . .. \ ~,. , " '1 " '-..I ,';' '. . . i I I '.' -.:...... ';,....,.........~J.u~......"....4\...~u""""'~.i~~~....,~..' '~. ',F., .~.;., .+'~'I~II>;.~~~..I,.,\j.\..:~lr.. 'l<'~.' ..'.~r'l -:. ". , ... .. . ..." "<'_'.>;' ~ .'I>~".~,~ ..~_ .c .~....~j 'H,"'" '''L' "~~.-'I-~~ 1 ,<-,.... .....'. <' p.' ':~.', ..... '":::.:. '.' ': It c 'I. . ..~.>.~~,I.!J:' ::. > ' :: .' ::~~:<' '., . I . '.~. . '. . >. .. . ..'..,:.,.J: . 't', :.: .. :'j ',' ",' ,..1..,'...... ...~' :' f .<'.:,.~~. ..~. ~ .:;: ,..!i\.,1 "~'.. . .~!. , '.i ,i,; .,: ..,~ ';~,' ;,'.,~{\:~.t;:'>.\;.);"Y~" .:~: :,":C.....~. ;'..;,::,:\:~::..';,'::'.' :"}~.' c,:\ :.... 1 . t. ~'" \'\ :.:JI.,.. '" .. . /, I, ". . ...,U. "... .." ~. .." . '~'. . ...".. .' ... .... ,~----_.. "; . : . .\ .: :. I . :.~ ~';" ,:;,..'.~; :.:< '. :,: ' ...., !.,'..:..:.:'.:...:~;:.; "."~:":,,,,.~.::;F . . ~:: ,:" 'i.~.. '. '~.....~,..'... ~.'" ~:~..}, . >,.. .\', '. ,i.' I: ~A:.....e:v~.': .~:,;;>:r" " " I I . ., " " I, ......-1"... . . ' , ,.. ,.rr ',. . .~:: "'. ,r ~. 1"'"'~", .. . ++" ", . ~ . ~ CLEARWATER POLICE SUPPLEMENTARY PENSION FUND .,,,p' HELD MARCH 17, 1982 MINUTES OF MEETING ;,.1' ".:' , . I' '> A meeting of the Board of Trustees was held on. March 17, 1982, in the Police Conference Room, Police Department, 644 Pierce Street, Clearwater, Florida. The following Trustees were present: Mayor Charles F. LeCher, Chairman Police Chief Sid Klein, Secretary Donald' Hibbard Sgt. Ray 'Kaminskas Officer William Sedrick ~ I' .j:": '." '. ' Also present were Richard Griesinger, Assistant City Attorney, and \ Betty Ward, secretary to Sid Klein, Police Chief. Chairman LeCher called the meeting to order 'at 3: 30 P.M. and call'ed for the approval of minutes of meeting held February 12, 1982. Donald Hibbard made a motion that the minutes be approved.' Motion seconded by Chief Klein. Motion carried unanimously. " . " ';. . , '. ,.'1 ~ ..' . Item #2 on the agenda concerned certificates of deposit maturing. Betty . Ward reported that the following money market CD's would mature within ,:) the next two months: April 3, 1982 April 22, 1982 May 1'2, 1982 '! '.i \. ..."~ . \1:.... '1,' .,.::., , '~ . ". . ~: ~ . . I, .' .\ I $40,000 CD $50,000 CD $20,000 CD pioneer Federal pioneer Federal Fortune Pederal Sgt. Kaminskas made a motion that the certificates of deposit which are maturing he renewed at the best interest rate possible at date of maturity. Motion seconded by Chief Klein, Motion carried unanimously. . ':, "."\'1 l : ~. !~,~,~~: Item #3 on the agenda concerned ratification of certificate of deposit transactions made by Betty ~1ard. Mrs. Ward reported that she purchased a $50,000 money market certificate of deposit on February 26, 1982 at the Bank of'Clearwater. Interest rate is 13.958%. Officer Sedrick made a motion that the transaction be ratified. Motion seconded by Donald Hibbard. Motion carried unanimously. ,"., I," . ",:1 ,"". . '.' .~:. . :,t~ <....1 ~ .</:. .:.,;: ":":? Item #4 on the agenda concerned the proposed amendment to the Provident Mas'ter Contract. Each Trustee received a copy of the report dated February 17, 1982 from E.W. siver and Associates. The report stated that the changes were essentially the kind of changes that one would .expect to see develop over a period of twenty years, and that the board is not disadvantaged by the amendmept. Robert I. Siver, who prepared the report, did suggest, however, that the City'Attorney comment especially with regard to the name used under the heading . "control of policy". Richard Griesinger, Assistant City Attorney, in '-J a memorandum dated March 1, 1982, advised that it was his opinion that the control of policy, as .stated in the present contract, remain the same, the owner of all policies is the Board of Trustees of the Clearwater Police Supplemental Pension Fund. !", .... . , i'.... .... ~ .~ , .' ....1. c:::( ~. . . . ';'.;..< ~. . :".,; : .\ ~':.' <~ ".+1\::< :'::" J ': " .'.\ . ,'. . > 1 ~ . r. '.:~< > ::.~ :~".'~ ::1 :/.~: . ~/:/.:,::-\ }, ,.... .1.; ,c, I ....:):'."..:1 '.': I . . ~ .::1;.,;":,-,,":( '"', .... . ".: ' \ 'l ,. ",' .1, . , '. y.<."" ,.... ...' , '~.~.:.~:.:,:..,'.~\;f4".:.:~.",:,'.,:,%:;,',:,;,~,:,:.!,.',.',,::.':.',.',,',.,:::.':: ,;:",:..:. ....: '::':".'~:\i,~: :':,' :'; ',',~,':'::, :\'~.' ""'\\i~/::":~';' :,:> :...:;.:...,:.:,:'".~.:~:..,.,;./;.'~:,';:,.::..~.:,':'.:':",' ":',; .' . ~. "c":..,.". ..'. ..,",::..' '."~I..';'''' '.:~~~,"','~"~"'. \,~~.l,.' t....'.. .". . ;:.,-"":' ',Ie '.':Y. .'I'.~' .' . \ I. ,', t ~I ......,. : ~.'''' " '.'" ~ I' l' ~. .:., . ~. t. > . . ~.:~.:. ~/.\1;~'~~~'A~ ., '. , . , l'. ~ I ~ i,:., ;' ",t j. , : (, '. ." ", W'\~, .', ';,'., .~' : . ' . i':'.1 :' , , " , '. ,l ,: .; " .... ;!: ". " , ,j . ., ,',' . ." > ./ , ; . . . ~. ~ '..' I ~. .. . I', " . ~ ~.::~ <~: . ~ .. ~ ','. . .' ,: . , , , " . I > ~ .', ~ -- ' '. "< . )~l',?:~;::<, ,d. ~r: ,I!'" .:: ,. " t;~: c: . c . 1'. "1,: . , 0\ . . ::'.:c '. . . , . . .~. ~ c:: "!,' ',' ., " , , ,I . ('~: " {I :~~".l,; T" ' I' <':: : ,.J: ",: '", ~,...:., >' . .. . '. I " . '. . I :-' '. ~'f~ . it~_(~~!.r7 ~~~ If'r~~~~:~~~'JI'''':J)..?;">\.,.,~. 'r 1."J,4' . C . '. . . ~~~~~'~. t.t .~ ,....:..,' f:.~i ... qO;:"'~I)t-Z->;~.b A> ;." ., ../," "\. ~~~. ~ tl":'-:-I"''i..ttTe~. -;....1.......... ..,II~'" 0) :.~..J..~~.,I _ ~,....,..I , .; } , '.~ ',. "'.....0 'c J." ,.......p.,..... " ~~. .........{...d.... ~~.!... .... , I . .......~~.:.lt,.~~...,.a..1 ,J ..7 ... I'. . I ~ ; tt;' , I!' , .' .. . ~ d ,'t' o. t. . ~': .,' , " SUPPLEMENTARY PENSION FUND MINUTES OF MEETING HELD ~mRCH 17, 1982 PAGE TWO .',i. " '/. I Chief Klein made a motion that the board advise Provident Insurance Company that the proposed contract was approved, except for one 'I, change, that bei~g that the name of the' owner of' the contracts ' and/or policies remain the same as in current contract, that being , the Board of Trustees. This 'appears un<J,er the, heading, "Control of POlicy". Upon ~cceptance, the board would sign the proper contract.' Motion seconded by Donald Hibbard. Motion carried. unanimously. ' ( . . .~ " .; .) I:' Item #5 concerned the semi-annual payment in the amount of $500 to Betty Ward for bookkeeping and secretarial services. Sergeant Kaminskas made a motion that the payment be approved. Motion ' seconded by Officer Sedrick. Motion carried unanimously. Chief Klein mentioned the fact that David,Panossianhadbeen contacted and advised that if he wished to submit a written proposal regarding investments, "the board would review it. " " '0 . ( , There being no further business, the meeting was adjourned at 3:45 P.M. . , 'f .'\ . Respectfully submitted, ~-/ /r'L. SIn 'KLEIN, Secretary Board of Trustees I' . , , , . , , '. ~ I Co '; ,~~' " " :0 ,.r , ' .,',.>,' :::':'.-<.' :'. "',': i.:, .. .',1. .,:.:,...,',. ..., " , I, . . ..... .', '.. . .,... '\'" , ,'.'.. 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