01/25/1990
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POLICE
SUPPLEMENTARY
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PENSION
Minutes
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DATE
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AGE NO A
CLEARWATER POLICE SUPPLEMENTARY. PENSION FUND
Meeting of January 25, 1990
1.
rntroduc,tion of Susan Mi tchell, new Account Manager
from Florida National Bank.
2. '; Approval of the Minutes of the meeting held on December
1, 1989.
3. '
Approval of the' Request of Robert A. Baker for his.
Share value on his Retirement Date of January 28, 1990
( end 0 f . s hi f t ) .
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.4.
5. ..
Approval of the, payment. of $1,000.00 to southea~tern
Advisory Servic~s, Inc., for Consulting Service for
Quarter ~nding December 31, 1989.
Approval of the Payment of $420.00 to Rogers & Cummings
Insurance, Inc., for Rene~al of the surety Bond for
Members of the Board of Trustees..
6.
Discussion, of Correspondence received from
Bollenback, CPA, reference Financial and Tax
for Participants in the Plan.
George W.
Planning
7.
Distribution
National Bank
1989.
of Monthly Financial Reports from Florida
for the months of November and December
0(
8 .
Approval of the Entry of Five (5) ne~ Officers into the
plan:
steven Bowser (recruit II)
William Caprio (recruit II)
Cra 19 McGarry (recrui t I I ) ,
Michael Stone lake (police officer)
Terry Teunls (poliGe officer)
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other busIness.
(/
LLIAM SEORICK, Chairman
Board of Trustees
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CLEARWATER POLICE SUPPLEMENTARY PENSION
MINUTES OF MEETING HELD JANUARY 25, 1990
A meeting of the Board of Trustees was held on January 25, 1990 at
9:00 A.M. in the second floor conference room of Police
Headquarters, 644 Pierce Street, Clearwater, Florida;
The following trustees were present:
Sergeant William Sedrick, Chairman
Roy May, Vice-Chairman
Donald Hibbard, Trustee
William Horton, Trustee
, Miles Lance, Assistant City Attorney and
Police Legal Advisor
Cindy Hicks, secretary to Deputy Chief Desmarais
was present to record the minutes.
I'
John Dean, Secretary, was absent.
Chairman Sedrick called .the meeting to .:>rder at, 9: 00 A. M. The
first item on the agenda was. the introduction of Susan Mitchell,
new Account Manager from Florida National Bank. Ms. Mitchell
greeted the members of the board and made general remarks about her
philosophy in the handling of this. type of account. She also said
that she would have the portfolio manager contact the board about
attending a future meeting. Ms. Mitchell advised that the bank's
name will eventually be changed to First Union. After more general
discussion, she left the meeting.
Item #2 on the agenda was approval of the minutes of the meeting
held on December 1, 1989. After a correction was made (deleting
the phrase "employee dishonesty" which appeared under item #8), a
motion was made by William Horton that the minutes be approved.
Motion was seconded by Roy May and carried unanimously.
Item #3 on the agenda was approval of the request of Robert A.
Baker for his share value on his retirement date of January 28,
1990 (end of shift). A Motion was made by Donald Hibbard that the
request be approved. Motion seconded by Roy May' and carried
unanimously.
Item #4 on the agenda was approval of the payment of $1,000.00 to
Southeastern Advisory Services, Inc., for consulting service for
the quarter ending December 31, 1989. Motion to approve the
payment was made by William Horton and seconded by Donald Hibbard.
Motion carried unanimously.
Item #5 on the agenda was approval of 'the payment of $420.00 to
Rogers & Cummings Insurance, Inc., for renewal of the surety bond
for members of the. Board of Trustees. As this renewal had
previously been approved, this item was to simply to approve the
amount of the payment. Motion was to approve the payment of
$420.00 to Rogers & Cummings Insurance Inc., was made by William
Horton and seconded by Donald Hibbard. Motion carried unanimously.
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Minutes
Supplementary Pension Fund
Page ,2
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Item #6.on the agenda was discussion of correspondence received
from George W. BOllenback, CPA, reference financial and tax
planning for participants in the plan. It was agreed by members
of the board tha't this service was not a business that should. be
endorsed by the Board. The Board is not going to endorse any. such
business.
Item #7 on the agenda concerned the distribution of the monthly
financial reports from Florida National Bank for the months of
November and December 1989. Board members acknowledged ,the receipt
of the reports.
I
Item #8 on the agenda was the approval of the entry of five (5) new
officers. into the plan. They are:
,
Steven Bowser (recruit II)
" William Caprio (recruit I I )
Craig McGarry (recruit II)
. Michael Stone lake (police officer)
.Terry,Teunis (police officer)
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There' being no further business, the meeting was adjourned'at
9;30 A.M.
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~~S~D~K' ~airman
for John Dean, Secretary
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