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11/15/1985 .,', " ,. '~. I I ~. . i!i~;iff!p,r}:;::}j':~;,(7\;J!;;')'i'\\~;::'::T~'~'!1;:Y:.,";'::"}'" ',"';': ';':' ,: ~;>' "~, :'~.. " . ~ j;"~~':':>>: ,'. '. ~?" '~, :~': ~ . ',(.1'.." '1" '~'l'Li':; .~~ lil~.l; . ( .., , :,",:;"",~ ,,:?'f, ;:;n;,:\;;:: ~:i"::~ ,;:. ,\ "'<~~I} . .,i/{ , ':1 , : ~ ~:~.~ '~ > ;:; ''''i,' " ., '..' . 1 ,t\ , , (~~~~\Tj' .: ~ ~ri;~:~~':/" , t: " ' " ,I, ,I' ,'. ".' ."'<f c" . \', f' :,'1': :.:. " 'J' \ ;,',. t' , ~, ~ I ,. , r ~; ." , '. .' ; ,'. ~. ' .... ~ ' ~;:" ,:i > : ~,;'::' i,: " . '. ." '... ' , ' !' , ,':' I. ~~~*(~'l:~~R.iJ[!,~~~'?~f .E,,\r~~f\!~",,;!!"r 'IJ'tt ;':S;,,;"~\:~ ";. ~,>OR;~~'" ,\ . " ~ \ '., " ,~ ,""L..~"\.....,_,~l:'~' .':-"",,' ..,....; "0 I K', ~ " .' .d' '...... .; " ',' . ; , , " "', , POLICE " SUPPLEMENTARY , : ,I' I PENSION .\ " '/, Minutes , ':' ",1' ~ ,; , .",. ~ DATE n""MJ~ " ;5: /,,~-- ." S/Z3' " " ~I '\ ,I , ' '. , , < , ':\ ',I ' ", " ,', !' -1"". ,.,.t;' ", c.. .'>"':t I. : , >.~.:~ -I'r; . t. C'c': ,t' o ."c ~~\ I,":: f :. . " ~ ~;:I')r(;?~l"f;:'?'7.:l;~Fi,~,';~~:':::',;~~;;;'):;Y', ,?")'c<,,,,":;i;i!\i , :~:>",'~~.:'~ -'I':. I' ~: ," " , . . .' I, ".+:t~ f:l;'.:- :., . r"V, ~~l., I ~ ,: ',1, ,"'e" C "?;; '.', " '~i';" !"::,:,.~. '. ':' ':""'\:'~'~~;!;;"'!:'~;C[:.i;'{i:~ " l :.:. :;',:::.~. '"1 i"i/ ,~j ."' :... . .::, < i ". L.'~ ~}},..,," ;','.: ,: ',',,',:,' ".~. '~.. .. '. . ,.' ,". .., 0:':" ~ ~: c," ' . ;.~ r ! ' .> .l.,' ;.. .. ,,",'~' :~.~: ,Lel " ! ,.~... t1;::'~::\, ;:",,~' >:,:< ,,' ,,'':' ~",:'.: >:,"'. :':';':~~i!'C.r4,,;jh!Nfl>H"}'1i,l\;i-fiN!lf;';'~~'~~~.-,: ", 1IIP'11~\;: F.'.'rc.~. '!"~;'l'J{f,t ?" (. c/? r.t .o.t,'. /':1~'~" -1" ;~!~ ;..t:'r ~/'J.""",,,, -,---iJ . , ~ " '.' , I ~ + 1-" '.> ,: ,'\ . :~ ~ . , '-, i', '" " '. , .'.1; I ", ., , " " .. ;~~ '<'( ~ . J ~.\. .' ,'T L , ; . ' \ < . , ~ '<. . f . ' ~ : . . . . . . ~ '. : ...'.h....~ ..~. .:.....',' .;". ..,}.', ,<,~ ~,~ ., ',: .' .>. ":", ~"',' ,. ."t/~~~lj~.i'\~10'd,H.\.I!..../~;-..t-.~-::f:V}("il,"C,'T,.iJ~~~~t~~'fo:~y..':r.J'r~..~~~:'~.if~~ll.:..~";...ij,1ti ,c,.' c. ',' . ,,,.,~~.,l,.i1w...:J!"f"y'.i~..:':;, "; ~",.~,' :.:\, '1. ;:.~.~... ),." , c\ '.. .1.' t"~.I: .. c'~ c):,. '. ',+,' ,~\":. fl...... ....~~..' '\ .,. 1,\. ........ ; . " . " ';.;'1 J' ~~ ~ ,j' ;: ). r ~ I" . " .~:. ': " c', ~ . ~ ' , ::... ":. ....>./1 ;~t,,,. , " ~ . ~J.~,"~,,~ '. ,." i ~. '; ; "'l., POLICE SUPPLEMENTARY PENSION ".1. MEET~NG OF NOVEMBER' 15 1985 ". AGENDA ,( 1 ~ Approval Rati {ieat ion' 0 f business 't t"ansact ions I ot ,Minutes of m~eting held' Ocfober. 24'; 1985 'I. 2~, l3etty Nard., ,3 Prop6sal f~o~ Florida courisel,in9~sei~ices. , , , 'r ' ., , National ,Bank ,I' reterence tnv~stment " I. " 'I f~'(<. t!:''-': '0' ' ;" .', I; , :: ' ~ :;" . 'l ,\ , . " "1 ,,' '., '1 : " ' '.' ' ;, ,,' .,' ,,' ",' ., ,'1' '1, I, ~~d4 SID KLEIN, Secretary ,Board < of Trustees , , ,,' '\ ' , , '. . '~", .J 'r I, 'j . -, ",::'~:...!~~";.:J;l.,,,,,J,.;"'I}~' ".J.J.t...., , , ~, "t..\ . ~c ,,'. <'IT I ~~ "( . .,h ~ ~H>" ~ ,...... , . .' ..... \ ~.!.,...... , 'l,,. ,.~, ....f-. '. '~;;1-\ ~\..,.: ~"','~.r' ;~,...~" : 1,1,1.. .'I'Jt ".""l". .' .../" .:'. " , ~Io r.H ~ 'i c:~1 :'.:~~~;,l',:~;./~\(;.~'~;~f'::~"'~'~\:i:"~:~":'>.:~:;' \ .:~ ;.' ',',: ",I.'c 0.".. ~ . '., .,! ",' ":,l " ~.~,.~+,. ~[. 'T."'.':;' ~q,":-~'c~>'.f 1.:t:~.. :-":.~ ". >'""" . '. '. " . .. .. . ~: ' . POLICE SUPPLEMENTARY PENSION MINUTES OF MEETING HELD NOVEMBER 15, 1985 () ~... 01 A meeting of the Board of Trustees was held November 15, 1985 in the second floor conference room at Police Headquarters, 644 pierce Street, Clearwater, Florida. .. ~ ,:\ The following Trustees were present~ Sid Klein, Chief of Police! Secretary Donald Hibbard ' Captain Ray Kaminskas Sergeant William Sedrick t';, ". ~ , ' Mayor Kathleen F. Kelly, Chairman (Absent) " . " Also present were Robert G. Walker, Assistant City Attorney, and Betty Ward, secretary to police Chief sid Klein. In the absence of the Chairman, Chief Klein called the meeting to order at 9:00 A.M. Item number three was moved to number one on the agenda. Arvel Gschwend, Vice president, Florida National Bank, Tampa, introduced John Willoughby, Senior Vice President. Mr. Willoughby distributed copies of their Investment Management Proposal for managing a portion of the assets of the Police Supplementary Pension Fund. The Board discussed the investment philosophy of Florida National, the list of se,rvlces to be ~~ provided by the investment manager, and fee schedules. The board 'J asked if the gentlemen would mind leaving the meeting while the " trustees discussed their decision. At this time, the trustees made a list of those items they questioned, and items that they would like included in the contract. It was the consensus of the members that the contract contain a renewal.clause on a yearly basis, and in addition, that the contract could be withdrawn without penalty, that the contract include administrative fees for the items discussed, the board tq receive a monthly statement for' the first year and if renewed would convert to quarterly statements. Sergeant Sedrick made a motion to accept the contract as submitted. Motion seconded by Captain Kaminskas. Motion carried unanimously. .', < j ::: ,<,' , , " . , ..,'. " ~,' ' 1.',: Mr. Willoughby and Mr. Gschwend returned to the meeting, and were advised of the board's decision and of those items the board wished, to include in the contract. When the contract is signed, a portion of the funds will be turned over to the Florida National Bank! and a portion of the funds will remain in the Fortune Federal money market account to pay those expenses that incur during the year. Monies will also be retained to pay the benefits for retired Captain James O'Neill. Mr. Willoughby and Mr. Gschwend left the meeting at 10:20 A.M. " ' " ;':\'> " '/ ': t,', -:,1 , ' ": ~ ;': ~ . ~ , . .',,0' I,':' ...-/ The,first item on the agenda was the approva~ of the minutes of meeting held October 24, 1965. Captain Kaminskas made a motion that, the minutes be,approved. Motion seconded by Donald Hibbard. Motion carried unanimously. <.'f \.. . .':f '1'. , . ~; . ;;, .,::~ ....:... ,; ~::. '"," ", ;':l . <. ~ ~,; " ' ." ., L ~ 0.._ / .... ~...... .... ' .., , '. p~ < L c. c ,';<.,": :{/'::",.,,: '. :,: ," " ':,'" ,', :,':,,' i: :'V.,i ::',:ll,:;i~;.:i;..!:,i.,',('~),:\;;%:/':~\d:!- ~)i'(<;;',Si':;\~(.:r;: ;y~, I" """, '".' , ,ld ,\." ,l, 1,\,,,, " I. .."I" ';;:'-:".', ,:,:,;"':'~./:Y:':';~,..,,:" \"~";':::' '1"': ~, ,'..... "" :,,;. .', ',',':'" ": '::, ';':;':~':\I::;::> .>:,:::;': 81i;:<,j?J7,:~,j,..,l,',..;,',I.lt',~. ~'~,.: .t',!. '.j :~ ,".\',.:'/.:<T; l~'~'.I'.\.;.,'\:,i..,~,:.,..,..~,",':,:: '::.: ""<(':.', ' " ',' ,.' . ')\;~ '" r. . " ' :f. . . . :::~!",~ ~ ' ," > . . l" . ..' ': .' ' :: " I:'. . \ t >~. ~ ' ...' , '. .' . '. I" "I . ".' : ", ,." ." . I.. ,.. Ii n' ') ".j" '" ./.'.: ." I' ; ,{ ; . 1';" . ........ . I . ',. .. . '~';"">;<;''':>'.:.::<>\'~:~.;" ',' ',' ,,'. ;v.~i~~;,r!; 'if: ", "', ,:,,(,:\,:,,'. '" .', " " " ,',', ""'" . . . .',", ,!!;..:';. ~. . " "'..; ~:: .' c" ", '. ,"I, ,_;'. .,.. . ~': , '.' . r c' 0 . ~ " ;r;"it",~~;.~t~ll!i~I1~y;m.l~I~,i<;T.;}b"'Mi.'/,~, . '. " ',. : " . . , .~ 11.; ~,<,.". .... ',.., '''1' '",,' ."...j ~v...~(o-,. :.' ~~""t':l''''I'I~''''.~4'''....~,.. '" .,L._,~"...I.h"""!~r/~~I"~I,..""",..t'-t.........io''''''~~'. , I ," .' ':\:'/:; '"",t ; , , .:.. "_,,,,~'''.I'\'~'i'':''~''''.'':'''~'''f .,'.....",....,'.. ,.... ~, :" . ;'" '.', ~ :,_,....,..~.....~~~ ,'J. . . .- .,. .. !" ~ .: .' POLICE SUPPLEMENTARY PENSION Page 2, MINUTES OF MEETING HELD November 15;1985 .. c. ! 'I ,Item number two' on the agenda was ,th~ tatification 6f'business transactions made since the last meeting. Mrs. Ward, r.eported that the $100,000 CD at Home Federal was ~ithdrawn October 25, 1985..' 00: 'October, 31 ,1985 the. $40,000: COat :P ioneer was withdrawn. On November 121 1985 the $20,000CD.at Fortune Federal, was, withdrawn. All proceeds were deposited to ,the Fortune Federal money market account, by Mrs'. Ward. ,. ,I ,t '.' \~ , ,j, . There being no further business, a motion to adjourn was ~ade by Captain Kaminskas, seconded by Sergeant Sedrick at 10:35 A.M. Motion carried unanimously~ LEIN, Sect"~tary of ,Trustees .':l " j,' ,', . ~ ' . :\ .', ,I '. ' " ','.,:.~ ',~,:" . . '<J, " , 1 ~ . .... . \ ,/ .' " . \ ~ '..J' .j ;\ \, ' .~, .,'