08/13/1985 (2)
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POL'ICE
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SUPPLEMENTARY
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POLICE SUPPLEMENTARY PENSION'
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MEETINC; .oF AUGUST 1,3, 1985
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AGENDA
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1 .,~pproval of, Minutes' 'of meeting held July 8, 1985.
2.,Certificate~ of Dep6sit'~aturin9 - Betty Ward.
3. 'Ratification of business transactions made 'by Betty'
Ward.
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,.4. Correspondence from Marvin Clayton ~ Bureau Chief',.
"Municipal, Police Officers' Retirement Trust Fund, dated
...July 26, 1985.
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5. Election results reference conversion to Share Plan.
Request from 'Marvin Clayton's office' for ,inf~rmation
concerning eligibility of John Borsch fo~ supplementary
pension benefits.
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SID KLEIN,. Secretary
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CLEARWATER POLICE SUPPLEMENTARY PENSION FUND - MINUTES OF
MEETING HELD AUGUST 13, 19H5
A meeting of the Board of T~ustees ,~as held August 13, 1985 in
the second floor conference room at Police Headquarters,
644 Pierce Street, Clearwater, Florida.
The following Trustees were present:
Sid Klein, Secretary
Donald Hibbard .
Sergeant William Sedrick
Captain Ray Kaminskas
Mayor Kathleen F. Kelly, Chairman, was absent.
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Also present were Robert Walker, Police Legal ,Advisor, and
Betty Ward, secretary to Police Chief Klein.
In the 'absence of Chairman Kelly, Chief Klein, Secretary, called'
the meeting to order at 9:00 'A.M. and called for approval of the
minutes of the meeting held July a, 1985. Donald Hibbard made a
motion 'that the minutes be approved. Motion seconded by William
Sedrick. Motion carried unanimously.
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Item number two on the agenda concerned C.D.'s maturing. Betty
Ward reported that there are two CDls maturing in August, and
seven C.D.ls maturing in September, 1985. Ray Kaminskas made a.
motion that the two August C.D.'s be renewed and changed to
three~month certificates, and that the three-month September
C.D.'sbe renewed at maturity as for the same time period.
Motion seconded by William Sedrick. Motion carried unanimously.
Item number three on the agenda concerned ratification of
business transactions made by Betty Ward. Mrs. Ward reported
that'the following transactions were completed:
July 8, 1985 $20,000 Crossland changed to 3-month CD
Interest: 7.75%
July 16, 1985 purchased following 3-month certificates:
$100,000 First National Bank of Florida 7.5%
$100,000 Life Savings 7.6%
$100,000 Freedom Savings 8%,
July 17, 1985 purchased:
$100,000 3-rnonth CD at Carteret Savings 7.45%
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July 26, 1985 $100,000 'CD at Home Federal renewed and
changed to 3-month certificate 7.5%
Item number four on the agenda concerned c6rrespondence 'from
Marvin Clayton, Bureau Chief, Department of Insurance and
Treasurer, Tallahassee, dated July 26', 1985. Chief Klein read
the letter which stated that the proposed Share Plan ordinance
appears to be in compliance with state law.
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Minutes of meeting held August 13, 1985
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1 tern number, five 011 the agenda concerned the election results
reference the conversion to the Share Plan. Chief Klein reported
that an election of all participants was held from 0700 hours
July 29, 1985, until 0900 hours August 5, 1985, and the formal
result from the ballots received was 123 for the change to the
Share plan ahd 4 ,against the change. Chief further stated that
based on the results ,of the election, an agenda item was prepared
and submitted on August 12, 1985 to the city Commission and will
be presented for first reading at the City Commission meeting on
August 15, 1985. Chief Klein stated that he would attend the
City Commission ,meeting at 4:00 P.M. on August ,15th..
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Item number six on the agenda concerned a request ;from Marvin
Clayton's office for information concerning eligibility of John
Borsch for supplementary pension benefits. Chief Klein advised
,that. his office had received ,a call from Marvin Clayton in which
he requested that the Police Legal Advisor review the Borsch case
and let him know why John Borsch was. not eligible to receive
benefits at the time of his retirement. Robert Walker, Police
Legal Advlsor,' stated that he had reviewed the matter, and that'
it appeared ,to him that John Borsch had not been a participant in
the Supplementary Pension for a period of ten years, and
therefore was not entitled to benefits under the Supplementary
~-~ Pension. Chief Klein stat~d that Mr. Clayton would be so
'--' adv i sed.
Chief Klein reported that the Annual Pension Trustee's conference
would be held on September 18 and 19, 1985 at the Hyatt Regency
Hotel in Tampa. Captain Kaminskas stated that he would attend
the conference.
There being no further business, the meeting was adjourned at
9:20 A.M.
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SID KLEIN, SECRETARY
Board of Trustees
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