03/22/1993
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AGENDA
CLEARWATER POLICE SUPPLEMENTARY PENSION FUND MEETING
POLICE HEADQUARTERS, CONFERENCE ROOM
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March 22, 1993
9:00 a.m.
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1. Approval of the Minutes of Meeting held November 30, 1993.
2. Approve the Request of William W. Plennert for his Share Value
Effective on his Retirement Date of January 29, 1993 (end of day).
3. ' Selection of Officers for Board of Trustees.
4. Distribution of First Quarter Investment Report Prepared by City
Capital Counseling, Inc. and Discussion with Southeastern Advisory
Services, Inc.
S. Investment Update by City Capital Counseling, Inc. and NationsBank.
6. Distribution of Monthly Reports Prepared by NationsBank for the
Months of October, November and December 1992 and January and
February ] 993. !
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7. Distribution of Copies of the Annual Report. e'
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8. Update on Issues - Lee Dehner.
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7. Other Business.
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WILLIAM SEDRICK, CHAIRMAN
Board of Trustees
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IF A PERSON DECIDES TO ApPEAL ANY DECISION MADE BY THE
BOARD, \VITlI RESPECT TO. ANY MATTER,CONSTDERED AT THE
MEETING OR HEARING, HE 'WILL NEED A RECORD OF THE
PROCEEDINGS, AND THAT, FORSUCH PURPOSE, HE MA Y NEED TO '
ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS
, MADE, \VHICH RECORD INCLUDES THE TESTIMONY AND
EVIDENCE UPON WHICH THE APPEAL' IS TO BE BASED.
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CLEAR\VATER POLICE SUPPLEMENTARY PENSION
MINUTES OF MEETING HELl> MARCil 22, 1993
9 a.m.
A meeting of the Board of Trustees was held un March 22, 1993 at 9 a. m. in the Conference
Room at Police Headquarters, 644 Picrce Street, Clearwater, Florida.
The following trustees were present:
Sergeant William Sedrick, Chairman
Roy 'May, Vice-Chairman
William Horton, Trustee
William Schwab, Trustee
Guests: Bishop Smith, Southeastcrn Advisory Services, Inc.;
Carole Cox, City Capitnl Counseling, Inc.; Leta Stoller and Bill Pavey,
NationsBank
Absent: Richard I3rt:est, Secrctary
Lee Dehner, Attorney for Board
Chairman Sedrick called the meeting to order at 9:25 a. m. Chairman Sedrick announced to
the Board that Mr. William Schwab had been appointed to the Board of Trustees by the City
Commission at their meeting on December 17 t 1992. Board members welcomed Mr.
Schwab.
Before addressing the tirst item on the agenda, Chairman Sedrick advised the Board thnt
Trustee Bill Horton's term of oft1ce had expired. Chairman Sedrick asked Mr. Horton if he
would be interested in serving for another two (2) year term. Mr. Horton advised that he
would like to serve another term. t....lolion was made by William Schwab that William
Horton be appointed to another two (2) year term on the Board of Trustees. Motion was
seconded by Roy May and carried unanimollsly.
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The tirst item on the agenda was approval of the minutes of the meeting held on November
30, 1992. A motion to approve the minutes was made by William Horton and seconded by
Roy May. ,Mot\on carried unanimously.
Item #2 on the agenda, approve the requcst of William W. Plennert for his share value
effective on his retirement date of January 29, 1993 (end of day) and approve the payment of
$61,698.87 less applicable taxes. !\itotian to approve the request and mtify the payment was
made by William Horton and seconded by William Schwob. Motion carried unanimously.
Item #3 on the agenda was scllxtion of officers for the Board of Trustees for one year terms.
Roy May made a motion lhal William S~drick be retained as Chairman. Motion was
seconded by William Horton and carried unanimously. William Horton made a Illotion that
Richard Br~est be rclained as S~cretary. r-,'Iotiul1 seconded by William Schwob and carried
unnnimollsly. William Schwob made a motion that Roy Muy'be retained as Vice-Chairman.
Motion seconded by William Horlon and carried unanimollsly.
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Minutes
'Supplementary Pension Fund,
Page 2
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Chairman Sedrick Ihell went to Item #6 011 the agenda', distribution of monthly reports
prepared by NationsBank (NCNB) for the I'10n\hs of October, November and December 1992
a,nd January and Fcbruary 1993; and HClll #7 on the agenda distribution of copies of the
annual report. The Board acknowledged receipt of the monthly reports and annual report.
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Chairman Scdrick combined Item #4 on the agenda which was distribution of first quarter
investment report prepared by City Capital Counseling, Inc., and discussion with
,Southeastern Advisory, Services, Inc.; and Hem 115 on the agenda, Investment update by City
Capital Counseling, Inc., and NationsBank. Leta Stoller advised the Board that she had
recently been transferred and would no longer be handling the account. She presented a
letter to Chairman Scdrick explaining the change in personnel, and introduced William D.
Pavey to the Board as the new account manager.
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Ca~ole Cox reported to the Board on the progress of the account for the first quarter (January
, 1, 1993 through March 17, (993) and distributed a report to the members of the Board. She
also advised the Board that the Syntax stock had been disposed of and the difference between
the 'amount invested and the linal value of the stock (approximately $5,000) would be
deducted from the tirst quarter fee.
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Bishop Smith reviewed the performance of the money managers for the quarter. He also'
suggested that the "fixed income" manager attend a future, meeting to discuss investment
. plans.
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Chain11an Sedrick called for a brief break at 10:20 a.m.
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Meeting re-convened at 10:40 a.l11.
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Bishop Smith completed his revi~w of ltrs\ quarter executive summary.
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Item #8, update on issues by Lee Dehner, was continued to the next meeting due to his
ill ness.
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There being no further business, the meeting was adjourned at 10:40 a.m.
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WILLIAM SEDRICK
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