12/18/1991
)~,~:Nl:~::;'g:'i;!,:D';'?~;G,:;~1,:'~~\:~Y:' i',:'" .'; '.: "'/, ,,'"p':''''' ,,' :,'"
:':1
~ , '.!
" ,
L" '.
I 't:j.~
.<!j
"
:.' .
. \'
..:, ;:\'>!:'\'~~;': '; :,;' :;,\(~ t,;"~:'," .::: .':~:,:'!",:(~?'~;~:':\>rj;~'r~;i:r\~'S
'.
. 'I',
'. t',~:
..: ~. '.;01'
',' ':'~:/~)
"." .<,'
\!~>f>:
, "
.~. ~
., I
'. .\
. ' '.:
:~'/':~~.? ,,:.:... -' ," , ' ' '" ",}
~'"..j ",~;;;.: . '. l ':"J.'~~:' ~ :~:~...
.) ;.>.IT'.,:;~:."'~' "" '., .",..'~ ~JL:'~.
, " .: I . ". I' I I ~, .
.".~ ..' "" :"';",:,~\:,,:,~':'::-'"
:I;';;';""~':'::~'~"":'~:'\:;' ',' .':' :';.'
. , , , ,. \ ',\,,';.;:,,:d:\' "'.';,
. ' ",.,,':.',',',<~.': ,I ::", 'j, ,.' '" '"
':~::': '.';, , . ", ..', "", ; , ,,. :', ' "
;,t#I~~7f ~~~ly:..,.:.7~~~ri~}t?;J;!!f,I\t~~~ rNWr1~~ t':\~.;.~ ..:.
, "
....i
I 3,:,:[.
, ." ~\,~'
.: .~ :~'l. c'.r'
; .~, . l"; ~ ~
.1' ,
.,
, ~ , ,
\,
"
,
'.0"
,.l.> .:.1
'J' :.
, !
,; ,
"\ ':.
,;
'"
, '
, ,
!. , .'1
'. 0 ~ ,
~" ,
. ~ . <
I'"
'"
; ,
1 '"
" ~
~, '.
. ~. ':'
:;.)
,
l .,~.' ',..., ~; ,.......'l",tl..~~ t.1'P",,':~+-l: :~,'t~":..W...-r:~. .....:;:,.'~. ~....~ :.,. ~~.~. ....1 -." n:.;.
, . .
. "
".
...1" ..' , ,", ,~;~.":~, '",.:...::",,:.' ,:,;:..~~ ,,~.,'" ;',~~", .: ';'F,"":'~)\f:i~~
'1
.1 ;1
::.:
"
. ;
. ,
"
'-,
..;
~' ' ..
"
:::. '0
,'.\: '
'"
"
>0
.'
'.'
,"1
POLICE
SUPPLEMENT ARY
,.' . ':' . . .
. I
,PENSION
Minutes
"
.j'.',,'
'\
DATE
r- ))~t"e"'4'e
/~/'t!-.
G-Jj
I
.,
';
"
>',
'>it'.
'.
, e' ~
;~.,;,:~/:?s:\;{~~.:,:.i'~:;T::':,~;';::';':)~~:\'"::r,'~;- ::,': :~ ,';, ,..., .',' ~ ,'.';' ';~": ~.'
/~ ;:pe.,J':~ . 'T . ,
.., n, ,'." ~ ::.
,.""'/,:.
, .. ~. ,
. ,
:1 ( ","
, '.1" '.
, '~," >':: :- ':':: ">, :,':';'?'~<',:.: ~,',<,: ;':::.J(: ':~"':,~~;J.;;.::\/}~r~~?!i~~
. ~ .: I,: ~',,l
I ~, .
r;: : :", '~
~i}''':: .e
,"
.' ,,"
: '
'+ , '~'. .:
t.
::\::.".: <,"
I~, . I . I ' ,I, .,..' ..
") . , .. " . I'. '.'
~: ':', ~:.\ '.:, '! " , "~ ' . ., ,I,. . ,',
~\~;w~.<~>'~\" .,)" '.': ," " '...;', $
;~.. .'" ,..: . ,., ,. '1 ' ':" '. ~ .
:'~;~;:,:'I:ee,~" :'~". , '.., .,' ~ ',i"
. ,~:. . , + I- . ' .,.
....... '/ ,..... . '", ...~~.: ~.l:"~\~~ll,...l;;}....'>II>...',:,~";J..ile;;~;.!;\e~~:>~,~t'.,J~>"~~, ",;1.',';,',.\,,<;<.\ "e '-'" . ~I'. ',. l. " ' .' . ": ....
,I.. J'-~U;tn...iJ~\ir/,tJVl.fill~~\~:-'J,J!if~f~ll~.'./.PH~;~"~:;.~1~~~..Jt!.w, ,':\11'l;~~,:rl..l.il5~\'lf "J"."',ftll.',.','"",I ','i' ",'\: ~~'~":'lj..,:~ I..::...">;.....V'J~~ I " i' ,1
<<W~:\~';t~T:'~'~"'.'l,.lf!f)l~l)J':,..~';~~\~"/.ri[,lt:!./~'~.'~.{~j~~I,~(.. of~r-'\,/..': ~..'."l ,J~..'~'~..,.:.','~I. .'~"'.:I .", ,'~. ',"'~ ~', }~:-,~',~~~~~tf~\:I"1..~~;',;:I.~!I'~~:..4 .' ":
~:&,:..J\~~:.'-'(~!.,:.d,.. .~.,</~~,~~"t't~'li ~~I''''':' ",.t F..., . '. ',;t '. ' . ~ ' \. ' '".,' < .,,< "~+l~' \ ~ "III"'~"\"'I'r! ''''J-;;':''j,~,'11.t't;'''tJt!'.
. I'... l' ,.,' .'u :' ,~. ~ ' .\ ".,,t ..' j, ' . f~ ," "':'. '. , , .', ,l ':t "., \',.. ,~l,.,. :...;,\i;~,.-:.:::,i~.~':,..,~~;r.
j',e ..'
~,' '
, ,
. ,
Ie . .
, ,
.' :
~} ,
AGENDA
, CLEARWATER POLICE SUPPLEMENT AR Y PENSION FUND MEETING'
POLICE HEADQUARTERS" SECOND FLOOR Co.NFERENCE ROOM
December 18, 1991
9 a.m.
; , 1. Approval of Minutes of the Meeting held on November 18, 1991.
2.
. r~terviews with Prospective Money Manager Candidates.
"
3. Other Business.
,~
WILLIAM SEDRICK, CHAIRMAN
Board, of Trustees
(
~
.',
IF A PERSON DECIDES TO. APPEAL ANY DECISION MADE BY THE
,BOARD, WIlli RESPECT TO ANY MAITER CONSIDERED AT THE
MEETING OR HEARING, HE WILL NEED A RECORD OF TIlE
PROCEEDINGS, AND THAT, FOR SUCH PURPOSE, HE MAY NEED
TO. ENSURE THAT A VERBA TIM RECORD OF TilE PRQCEEDINGS
IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND
EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED.
,
. '
j' :..., ~.~. .. "-~,.:""'"
''"'7 ......"'",....,....:.t,.. H';~""""" ;.\.l.rI...h~J~~r....'.i,.;L:I',...IL...... , ........,~.. i ';/P.:,
.. '," ,}, I, . 1 ,. . " .~
.j.', ;c~~' \"'~'.';:~'.:~
.'1:'
I'
- . . ,
'.'
"
'1' .)
'J} .
, ,
,
~~;~!r~~\;~;,\'~-t;~:'~?l~'::':~;?i,~~;t,:,::~:1f'(,:::.:.~!,(.}:':;i?;\~~?::'~:<:;': ':,'i'~:(. :~',':" '{:::~\,'; ;',r' <, '~::l, ":'>'':' :,; > ~:: ,. I,:, ','::'
"0 ., ' '\' ,. , ~ ; +.
,'.' ., ~
" ,
~ ~. ","<. .
.!. ce
: "':'".,". ,.",:..:t1.f!~;
CLEARWATER POLICE SUPPLEMENTARY PENSION
MINUTFS OF MEETING HELD DECEMBER 18, 1991
9 a.m.
A meeting of the Board of Trustees was held on December 18, 1991 at 9 a.m. in the second
floor conference room of Police Headquarters, 644 Pierce Street, Cleanvater, Florida.
The following trustees were present:
Sergeant William Sedrick, Chairman
Roy May, Vice~Chairman
Richard Breest. Secretary
Donald Hibbard, Trustee
, William Horton, Trustee
Guest: Bishop Smith, Southeastern Advisory. Services, Inc.
Chairman Sedrick called the meeting to order at 9 a.m. The first item on the agenda was
approval of the minutes of the meeting held on December 18, 1991. A motion to approve
the minutes was made by Roy May and seconded by Richard Breest. Motion carried
unanimously.
Item #2 on the agenda was presentations by six prospective money managers. A question
and answer period followed each presentation.
The first presentation was made by Mark Rhein, Brad Ridinger and Thomas James
representing First Union Bank. The second presentation was made by John D., Race
representing Sun Bank. The third presentation was made by R. Scott Givens and Patrick P.
Laratta III representing N.C.N.B.
The Board took a lunch break from 11:30 a.m. until! p.m. Upon reconvening, the Board
heard a presentation by Hunter' W. Groton and Carole H. Cox representing City Capital
Counseling, Inc. The fourth presentation was made by Michael Matus and Bruce Bridges
representing Invesco Min Inc. The final presentation was made by Edward L. Jaroski
representing Capstone Financial Services. '
Starting at 3: 15 p.m. the Board held an open discussion on each prospective money manager
and their presentations. Following the discussion, the Board unanimously decided to
el'lminate First Union Bank and N.C.N.B. from consideration.' The Board then proceeded to
rank the final four managers in order, giving a weight of 3 for firstJ 2 for second and 1 for
third. The results were:
City Capital Counseling
Invesco
Sun Bank
Capstone
13
7
5
5
. ~.....t'''''.~'''' ,.. L._ .' l.~.. ~~..
.' '.'~">""".':f.,.~O..l....~......~~:.~,-,"''''''.....'''''~1._~...~, ~_' .,c,," , .'
'. . " ".
, ,
~ \ ~
i,~~f~;~~}?'titP,::<. J<:': rr?(~~;;.;;"" :';"';' ..' ... ;.......... .', ::..:. .,.'.,.,'.'.....,' :.":', ;.. .....:' .... '" ,'.
j, ',' .
~~~1: .: t ': . .'.,; ",:
'<. ,
, " ~ ~ , .,.' ~
~ ; ,"": :~! ;:<( :'i:',: ~~': ,i,t':f\':~f5i:.1g~\,f.! ~,qi:~;ri~;
,,~ ( 'I, " " .. o~. :> . ... L~.
" ,\. ,.'
'. 'l ~.:t
\.T' .
\ , "::
;, .
i:;:J:':::',>:; ,'.,,', ,", "
\ .', 0 .,
j~:!{. .. j
" '
. (.\;
...'.'.t.
,. . ;' .' \ ~: I
. ~ " ',~!,
. .'".,','
, ,,~
, . .::!
, "
. '. '.
, .'
: ~ ..
~. I :
...,.,.'\
..'
, . , " . I, ~. . '. r. . '. ' . ' . . , ' . .' t'
'f' \'.., .' ,. ,. . j " '.." ..' ,/, }
'i ,. c,: ,.'.,,,: <',:',: ',<:" ':,' , ,". :-, .. . ':~,': ' ,'. . \, "',
~";'~f"'"~~"'" i~ ',..: ';" ",:~,:, ,~:~'~ ::':1 ';';;;~~\'~'~~';::~;-;;!:"~i'~~l~:,}~Xl~)(S;>:~i ~}';:Y:~'i;\~i,J,F-:~/r:;:::;.\'y':';'~':: ",J:,\,~f!'?~')r;':'~7\t~~~!~,~ i~"':;:l'>!.~f.':i"~~H':'~l\\~~'; i'! j::"~l,." :'~ ,?::( .",'.~,. :!(;; :,:. ':~":';~.;';i~,,'?l~
.'. ....' .': <. r' . I
., '. ~ . .'.. ::::.__::\',':.'.'.,",> " '.'.: .; ~ J...'
.....,
., ,:.' ,. "... ::':":~:'<,;I" '...:: . .
". ' ,
,.;t
, .
. "
,.: r . ~ ,
" . "n
(('./ :' >,:
i~~" .
. ,
, "
. ~. .
,',
:. :.;
.' ~ ,:-\
q
, Minutes
" Supplementary Pension Fund
p'age 2
( ,
The Board then decided that Sun Bank would rankthird, however, Sun Bank was the only "
manager who stated the figures for assets and accruals would only be available on the,first
and fifteenth of each, month. Each of the other managers stated the figures could be made
. available on a daily basis. After a short discussion, it was decided that'if Sun Bank would '
not reconsider making the amo~nt of assets and accruals available on a. daily basis, they
would be eliminated from contention and Capstone would be considered as the third fin~ist.
, I
\.
.:;,
Bisrop Smith was directed to conduct client inquiries of the finalists for presentation at th~
nex,t meeting when a final selection of a money manager will be made.
There being no further'business, the meeting was adjourned at 4:15 p.m.
,.
k ',S:
WILLIAM SEDRICK '
, Chairman \
(
,I,
'"-"10.
"
,:',
" .
'..i}'
,.1
'..1:
"
",'
. .~
'. '.,
,',
'..
"
. 1
j
I
.J
,)
"
""
.",r"
'('.
.'
I,
,
i
, r
f
j
'!
",,"
, "
,I,.., ~.
I',. \.,'
, .
'i
I
<:. :
.'\.'.
'.,
. '
~ ..
.:.:: I'
. . .:. ,l~. w ~,..
....... '
. "L \:\:: ': Cd ,::': "7\'<'''''.;~>/: 'j:.. ...... ~}"i :;::.r:'i-';<.,;' < ~: '::'':.;.:';'~: .\':;, ,.:,"-,,:',;, ,;;:::,:
,.,'.\"" ,.."."".\".:.-.;,..,',.."'~"..".,,.,:'.. '... : \ '1'..""'...: l,..'i' ,....",...',.'/,.'.,' '1 "... "";,',,...h,,',\'
'."" .':I.~.,~~II."..~' ,.'. (r~D'" '. ....':. :...."..~ .'1' ,'. ..... .', ~'. .:., , _"'1,. "....'. .,<.",',,'. I". .. ,," . ,1:,.~,
'. '
.. .
;.,. : '.1: :I~ \ ," , ",' .
\ '
, ,
, .
o'r'"