12-13-1990 Regular Meeting•
MIAMI SHORES VILLAGE
PENSION BOARD MEETING DECEMBER 13, 1990
The meeting of the Village of Miami Shores Pension Board was
called to order by Mayor Henry Courtney at 8:03 a.m. The
following were in attendance:
Board Members: Mayor Henry Courtney
Vice Mayor Spahn
Sgt. Jack Ulmer
Gail Macdonald
Jean Bryant
Also Present:
Mr. William Fann, Village
Attorney
Ms.Patricia Varney, Pian
Administrator
Mr. Scott Givens, Ms. Anne
Miseyko, NCNB
Mr. Tom Cochran, NCNB
Real Estate
Mr. David Newman, Ms. Karen
Cole, Merrill Lynch
Absent: Mr. William Walker
1. Discussion of Real Estate Fund - Mr. Tom Cochran from NCNB
addressed the Board on the present situation of the Real
Estate Fund of the portfolio. After further discussion,
Ms. Macdonald made a motion to maintain the current Invest-
ment in the Fund. The motion was seconded by Mr. Spahn. The
voting was as follows: Mayor Courtney, Ms. Bryant, Ms.
Macdonald and Mr. Spahn YES, Sgt. Ulmer OPPOSED. The motion
passed on a majority vote.
2. Discussion on asset allocation - Mr. Newman Informed the
Board that they will address this Issue In depth at the
February quarterly meeting.
3. Discussion on Investment Managers - Ms. Cole and Mr.
Newman suggested Sun Bank, NCNB and Barnett Bank to the Board
for consideration as the new Investment Manager.
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The Board agreed to hold a meeting on January 17, 1991 to
Iistpn to presentations from each Bank.
4. Discussion on retention of Eagle Asset - Mr. Newman
suggested not to terminate Eagle Asset Management until the
Board decides the new manager at the January 17, 1991
meeting.
5. Mr. Spahn made a motion to approve the minutes of the
November 14, 1990 meeting. The motion was seconded by
Sgt. Ulmer and passed unanimously.
6. The Board confirmed the quarterly meeting dates for 1991
to be:
February 21, 1991
May 14, 1991
August 20, 1991
November 21, 1991
7. The meeting was adjourned at 9:40 a.m.
Gall Macdonald, Secretary
Hen -y Courtn-l', Mayor