04-04-1989 Regular Meeting•
Miami Shores Village
Pension Board Meeting of April 4, 1989
The meeting of the Village of Miami Shores Pension Board was called to order by
Mayor Spero Canton at 8:08 a.m. The following were in attendance:
Board Members:
Also Present:
Mayor Spero Canton
Elly F. Johnson
Sgt. Jack Ulmer
Dr. Robert Butler
Mr. William Walker
Mr. William Heffernan
Mr. David Newman and
Ms. Karen Cole of Kidder Peabody
Mr. Morton Millhauser of
Eagle Asset Management
Mr. Jim Galbreath of
NWQ
Mr. Jim Jordan of
Cashman Farrell & Associates
Mr. William Fann, Village Attorney
Absent: Ms. Gail Macdonald, Plan Administrator
Ms. Patricia Varney (Maternity Leave)
1. After review of the presentations by the Equity Fund Managers, Dr. Butler made
a motion to accept Eagle Asset Management as the second equity manager for pur-
poses of transferring $1 million dollars from the equity portion to them for
management. Mr. Johnson seconded the motion and the motion failed to pass. The
voting was Mr. Johnson, Dr. Butler and Sgt. Ulmer for; and Mr. Heffernan,
Mr. Walker and Mayor Canton against.
Mr. Johnson suggested the Board use a written vote in order to break the tie.
After further discussion, the Board submitted a written vote. Mr. Walker changed
his vote to accept Eagle Asset Management as the second equity manager for the
Pension Fund.
Dr. Butler restated the motion that Eagle Asset Management be accepted as the
second equity manager for the purpose of transferring $1 million dollars from
the equity portion for them to manage with commissions to be negotiated at a
later date. Mr. Johnson seconded the motion. The motionpassed with a four to
two vote. The voting was Mr. Johnson, Mr. Walker, Dr. Butler and Sgt. Ulmer
for; Mayor Canton and Mr. Heffernan against.
Ms. Coleinformed the Board that Kidder Peabody's fees will remain the same
with the additional equity manager.
Page 2
April 4, 1989
Minutes
2. Mr. Johnson made a motion to approve the Minutes of the March 14, 1989 Pension
Board meeting. Mr. Walker seconded the motion and the motion passed unanimously.
3. Mayor Canton made a motion to adjourn the meeting and the motion was seconded
by Mr. Walker. The meeting adjourned at 10:25 a.m.
•
Elly F" Jo +son, Secretary