02-13-1987 Regular MeetingMIAMI SHORES VILLAGE
PENSION BOARD MEETING
The meeting of the Miami Shores. Village Pension Board was called to
order at 8:00 a.m. on Friday February 13, 1987 by Mayor Karen Kirby with
the following in attendance:
Board Members: Mayor Karen Kirby
Dr. Robert Butler
Mr. William Heffernan
Mr. William Walker
Sergeant Jack Ulmer
Mr. Melvin Moore
Mr. Les Forney, Jr.
Also Present: Mr. William Fann,Village Attorney
Mr. Gerald Bott and Ms. Karen Cole
of Kidder Peabody
Absent: Ms. Gail Macdonald, Plan Administrator
1. The Quarterly Investment Review by Kidder Peabody for period ending 12/31/86.
Mr. Gerald Bott gave an overall review of the report indicating that the
Pension Plan was in an excellent position at this particular point.
2. A discussion was brought up by Dr. Butler with regard to the statement sub-
mitted to the Pension Board by NCNB for the period ending 1/30/87. Dr.Butler
requested an interpetation of the figure that was given by NCNB with regard
to the total dollar figure for the "Transaction Activity" portion of the report.
The discussion was tabled until NCNB could give the Board a clear explanation
of the figure in question.
3. A motion to approve the payment of the actuarial invoice submitted by Kruse,
O'Connor and Ling in the amount of $1,085 for services rendered was made by
Mr. Walker and seconded by Sergeant Ulmer.
The motion passed unanimously.
4. Mr. Forney suggested that Carson & Linn be appointed as the attorneys to do the
analysis of the Miami Shores Pension Plan. The motion was made by Mr. Walker
that Carson & Linn be elected to do the analysis with a $1,000 limit on
expenses and a maximum fee of $3,600. The motion was seconded by Dr. Butler.
The motion passed unanimously.
5. A motion to approve the minutes of the January 28, 1987 Miami Shores Pension
Board meeting was made by Mr. Walker and seconded by Dr. Butler.
The motion passed unanimously.
6. A motion for adjournment was made by Mr. Walker and seconded by r.Heffernan.
The motion passed unanimously.
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L.R: Foney, Jr., Secret.
Karen Kirby, Mayor