08-06-1985 Regular MeetingMIAMI SHORES VILLAGE
PENSION BOARD MEETING
August 6, 1985
4111 The meeting of the Miami Shores Village Pension Board was
called to order at 8:00 a.m. by Mayor Kirby, with the following in attendance:
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Board Members:
Absent:
Also Present:
Mayor Karen Kirby
Dr. Robert Butler
Sam. Michels
William Walker
John Fletcher
Les Forney
John Moore
None
William Fann, Esq.
Gerald Bott & Karen Cole, Kidder, Peabody, Inc.
Mayor Kirby called for a motion to change Item.3 on the Agenda -
Approval of Ordinance Change - to Item 1. So moved by Mr. Forney, seconded by
Mr. Walker, and unanimously carried.
It was also suggested that Item 4 on the Agenda - Approval of
the 7/11/85 Minutes - be moved to Item 2 on today's Agenda. A motion was made
by Chief Fletcher that approval of the Minutes be moved to Item 2. Seconded
by Dr. Butler, and unanimously carried.
1.) APPROVAL OF ORDINANCE CHANGE.
Discussion regarding "AN ORDINANCE AMENDING PARAGRAPH (2)
OF SECTION 17-21, AND SECTION 17-23 OF THE CODE OF ORDINANCES
OF MIAMI SHORES VILLAGE, FLORIDA; AUTHORIZING MULTIPLE TRUSTEES
AND TRUST AGREEMENTS; PROVIDING EFFECTIVE DATE." ensued. This
change was deemed necessary due to the splitting of the Pension
portfolio.
A motion was made by Les Forney to approve the Ordinance and
forward it to Council for action. Seconded by John Fletcher,
and carried. This motion was then restated by Karen Kirby
as follows: "We are passing a recommendation to the Council
to pass this Ordinance." So moved by Mr. Forney, and seconded
by Mr. Wacker, and unanimously carried.
After this action,due to other business committments, Mr. Fann
was excused by the Board.
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8/6/85
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2. ) MINUTES - JULY 11, 1985.
Upon motion made by John Fletcher and seconded by Dr. Butler,
the Minutes were unanimously approved as written.
3.) INTERVIEWS:
The scheduled interviews commenced as follows:
8:30 Ashland Management, Inc.
Presentation made by Mr. Wm. J. Bogut, of New York,
after introduction by Karen Cole.
9:15 ICMA
Presentation by Jeffrey M. Curchin, President,
Tampa, Florida
10:15 ICC
Opening presentation by Stephen Cochrane, Vice President,
and introduction of Fred J. Shockley, D.F.A., Vice Presi-
dent - Orlando, Florida.
11:00 Eickhoff & Pieper, Inc.
Presentation made by Bill Eickhoff, Partner, Tampa, F1.
Following the interviews and after a period of discussion, the Board
deferred making a decision until all relevant material could again
be reviewed. A meeting was set for Wednesday, August 14, 1985, at
3:00 p.m. in the Village Manager's office, at which time a decision
will be reached.
4. ) REVIEW OF PERFORMANCE THROUGH 6/30/85 - GERALD BOTT OF KIDDER, PEABODY.
Mr. Bott furnished Board Members with a report (copy on file),
and advised that the pension funds have now exceeded the investment
objective. That it has been a good quarter.
During subsequent discussion, Sam Michels raised a question regard-
ing the fee changes the Board was apprised of in a letter from NCNB
to Les Forney dated July 17, 1985. Gail Macdonald was called in
and requested to report to the Board regarding the impact. It was
also noted that Mr. Rick Womack is the new Administrative Officer
for our account.
5. ) ADJOURNMENT - 12:10 P.M.
APPROVED:
aren Kirby, Mayo
Secretary Pen ion Boar