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Home My WebLink About03301993 POPT SEBASTIAN POIJCE OFFICERS' RE TIREMENT TRUST FUND POST OFFICE BOX 780127 · SEBASTIAN, FLORIDA 32978 TELEPHONE: crrY HALL (407) 589-~330 · POLICE DEPARTMENT (407) 5895233 FAX (4O7) 589-5570 MINUTES OF THE MEETING OF THE BOARD OF TRUSTEES OF THE SEBASTIAN POLICE OFFICERS RETIREMENT TRUST FUND HELD ON TUESDAY, MARCH 30, 1993 The meeting was called to order by Chairman Gore at 10:10 a.m.. Present were G. Gore, E. Petty, D. Puscher, E. Ewert and L. Napier. Motion was made to waive the reading of the minutes for the last meeting except for change of date to January 15, 1993 by E. Petty and 2nd by D. Puscher.- Motion passed. was made by L. Napier to approve Prudential Securities as performance evaluator and 2nd by D. Puscher. The meeting was adjourned at 11:25 a.m. "Serving Those Who Have Served U~" SEBASITANPOLICE OFFICERS' REIIREME TR UST FUND POSI' OFFICE BOX 780127 ® SEBASTIAN, FLORIDA 32978 TELEPHONE: CITY HALL (407) 589-5330 ® POLICE DEPARTMENT (407) 589-5233 FAX (407) 589-5570 AGENDA SEBASTIAN' POLICE OFFICERUS RETIREMENT TRUST FUND MARCH 30, 1993 3. q. 5. Call to Order Approval of Minutes Treasurerls Report Old Business New Business a. Performance Evaluation 6. Chairman's Matters 7. Trustee~s Matters 8. Adjourn Any person who decides to appeal any decision made by the Sebastian Police Officerls Retirement Board with respect to any matter considered at this meeting (or hearing) will need a record of the proceedings and may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be heard. (286,0105 F.S.) "Se~ng Those ~ Have Served Us." SEBz1STL4N POLJCE OFFICERS Ct Ry a cot KU —RE7 —T—R— US T F UA D! r yj?EMEJU 1004A .�r-. POST OFFICE BOX 700127 0 SEBASTIAN, FLORIDA 32970 TELEPHONE: C:IIY I IALL (407) 509-5330 • POLICE DEPARTMENT (407) 509-5233 FAX (407) 509-5570 March 30, 1993 Sebastian Police Department Chief Earl Petty Attn: Jane Holmes P.O. Box 780127 Sebastian, Florida 32978 RE: Quarterly Board Meeting Dear Jane, tlo� I wanted to confirm that the quarterly meeting on the above matter is scheduled for March 30, 1993 at 10:00 am. in the conference room at the Sebastian Police Department. By copy of this letter, I am informing all board members. Thank you. Sincerely, -Dana Brumley ` for Gregory J. Gore pc: Capt..David Puscher Sqt. Gene Ewert Larry Napier 9 "Serving Those Wlio Have Served Us." .'FEB, 3 193 11:28 FROM P.B. BOCA RATON PAGE.001 f • PRUDENTIAL SECURITIES CROCKER PLAZA, 5355 TOWN CENTER ROAD SUITE 600, BOCA RATON, FL. 33486 PHONE FAX 1 - 407-394-7596 IncOming - FAX 2 -- 4 0 7- 367-603tr FAX 3 - 407-750-7212 To: Y' �.al l-r��. FA67 M `TOf 9 �dentWj Smunaas 4v FROM • ' Jearmette Marku�sCFP �soclsce vice F+esldent ' �'' . • � + 5355 Toro Center PAx4 Supe 600 a:� ,;; ' • - ; s Sm Radon. FL 334$9 40T-384-7539 / FL 1-800-432-S6i8 1.800-327.0618 ' � - .. • . � � ...DATE: .::t ::�.,•.. ..t� ,•Y...� ,�,,,,. ;o 'OF PAGES (INCLUDING COVER) ' -' ,', ,;;:i4-'<: �:>1:, 15 :�•.. t ••.. .. .t. _ +:a .; :CV '2-?�. ,��;• .a �.•.'.: • • ,.jay! i , .off.•{,s••'• �.: • 'f: r': v .'r.,'s .. , • ./y: ice,, ..• til,;t!:4TH: �' :� • •'• 'w FEB! 3 193 11:29 FROM P.B. BOCA RATON /0061 Jeannsue Markus vice President -Investments Certified Finenclat Planner 440* PAGE.002 Prudefflal securtdesW. Performance Moitoring Proposal for Sebastian Police Officers Retirement Trust Fund Attn: Larry Napier, Director of Finance Our performance monitoring provides an objective third—party analysis from our in—house data base of 500 Bank Advisors, 100 Insurance Advisors, 1200 independent Advisors (such as your advisor, Investment Counsel Company), and 959 Mutual Fund Advisors. We simplify your particular Funds' results into an understandable and customized report, thereby fulfilling the 3— year F.S. Chapter 185 requirement and satisfying your fiduciary capacities as Board members for the Fund. The report will answer 5 basic questions: * Did the Fund Results Meet Your Objectives? * What Market Conditions Existed During the Review Period? * How Did Other Managed Fund Perform During the Same Period? * Sow Much Risk Did Manager Take In Achieving Results? * Did the Manager Add Real Value to Your Fund? The cost for the work involved is $500 and the agreement that all future executions of bond and/or equity trades would be through myself and Prudential Securities, at best possible price. The future services to which the Fund Will be entitled will be (besides the Performance Report): My attendance at your annual review meeting, and quarterly if necessary. Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7539 FL 800 432-6676 Nat'l 800 327-0516 FEB 3 193 11:29 FROM P.B. BOCA RATON PAGE.003 Prudential_Secure� Jeannette Markus Yoe President -Investments Gerdtied Ffnanclai Planner My being available toll-free whenever you have a question about the Rey Trust balance, performance etc: I become your personal link to Rey Trust and Investment Counsel Company of Orlando. I communicate between the Finance Director, the Bank, and the Manager. Example: if no retirement -disbursements are foreseen, and there is a surplus of cash in the Fund, then I notify I.C.C. immediately to invest the funds, thereby achieving maximum profitability for the Fund, instead of allowing cash to remain dormant. - My specialty is value-added service small to medium-size Police and Fire plans; my reputation is excellent, and I have a good working -relationship with I.C.C. and Dave Raudman of Rey Trust. I help small plans gra larger! - There is no extra fee for travel or any other service I provide, other than what.I already mentioned in paragraph (00*t #2. The research, reporting, and the services you will receive are of the high caliber which is expected by very large police pension plane; I am honored to accomplish these for your Fund and to be hired as your on --going Consultant. Sincerely, Jeannette Markus Certified Finaucial Planner Vice President --Investments PRUDENTIAL SECDRITIES9 INC. JM/rp Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33466 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 519 FEB 3 193 11:30 FROM P.B. BOCA RATON PAGE.004 Prudential Secunts Jeannette Markus Vice President Investments CerNed RnanciiM Planner Jeannette Markus Certified Financial Planner Vice President -Investments Prudential Securities, Inc. Jeannette Markus has been a securities broker for 12 years, with the past eight years at Prudential Securities. Jeannette specializes in assisting small to medium size public pension plans in performance measurement, as well as providing investment advice to individuals, non-profit charitable organizations, and private pension funds. Jeannette has been a Certified Financial Planner (CFP) for six years and holds a BS (Finance) cum laude from American University in Washington, D.C.. Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7639 FL 800 432-6676 Nat'l 600 327-0516 FEB 3 '93 11:30 FROM P.B. BOCA RATON Jeannette iMwkus Vice President -investments Certified Financial Planer SEBASTIAN POLICE OFFICERS RETIREMENT TRUST FUND Advantages of Selecting Jeannette Markus as your Consultant PAGE.005 * She communicates well (by toll-free telephone) with the members of the Board; she speedily facilitates investment of the Fund's surplus cash, when appropriate, for maximum profitability for the Fund. * She is the "watch -dog" of the Fund, assisting your Board in monitoring the performance and quality of the investments and that they adhere to the Town Ordinance and F.S. Chapter 185 rules. * She personally assists you in understanding the monthly statements and performance reports; remember, no other institutions provide you With a personal representative to help you with this task! * She attends every Board Meeting of each police pension plan for Which she consults; she affords knowledge and guidance to assist you, the Trustees, in making better decisions. * She is a specialist for small and medium size public plans, offering attentive, "in-person" service, which consultants for large police plans are unable to offer and maintain. Prudential Securities Incorporated, Crocker Plaza, Suite 600. 5355 Town Center Road, Boca Raton. FL 33486 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 e FEB 3 193 11:30 FROM P.B. BOCA RATON Jeannette Markus Vice Presldent•Investrnerrm Certified Financial Planner ADHERENCE TO F.S.185 PAGE.006 PrudAntiel SeCuflaAS Both Prudential Securities and Jeannette Markus, in working with the Sebastian Police Officers Retirement Trust Fund, will abide by and upholdF.S.185, and the Rules of the Department of Insurance as they pertain to Performance Evaluators and the investment management of this fund. REFERENCES AND REPRESENTATIVE LIST OF LOCAL CLIENTS Below are the names and telephone number of Mrs. Markus' consulting clients which may be contacted as references: City of Lantana Police Relief and Pension Plan 500 Greynolds Circle Lantana, FL 33462 Sgt. Thomas Bates Administrator/Treasurer (407) 585-6416 Approximate value of plan: $19600,000 City of Hialeah Gardens Detective Juan Saavedra Police Pension Plan Administrator l000l N.W. 87th Avenue (305) 558-3333 Hialeah Gardens, FL 33016 Approximate value of plan: $700,000 Prudential Securities Incorporated. Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 ** TOTAL PAGE.006 ** _n THE INVESTMENT COUNSEL COMPANY January 26, 1993 Mr. Gregory J. Gore Sebastian Police Officers' Retirement Trust City Hall P.O. Box 127 Sebastoam. FL: 32978 Dear Mr. Gore: We are very pleased to report that last year was a record -setter for us at The Investment Counsel Company. We succeeded in increasing both assets and revenues to an all-time high. More importantly, we again met or exceeded the goals and objectives of our valued clients. As we begin meeting and reporting our results to our clients, we are often asked about the situation at Key Trust Company. You may have already been informed that Key Trust is being sold. We are /M, fully aware of the situation, and have kept close contact with Key Trust regarding its sale. We have been assured by Betty Brady, the President of the Florida division, that she and others who have been handling your account will continue their responsibilities under the new ownership structure. She also stated that the fees currently charged will not change. As you know, we provide professional investment management and currently perform our duties with not only Key Trust, but Sun Bank, First Union, Barnett Bank and NationsBank to name a few. As you also know, Investment Counsel Company's services stand alone from the custodial bank, so changes of ownership at a custodial institution should have no effect at all on our practices. Additionally, we look forward to seeing as many of you as possible at our Open House, scheduled for Friday, February 5, from 46 p.m. As always, feel free to call with any questions you may have. Best Regards, The Investment Counsel Compaq Terri R. McDougal Associate Director 3i5 South Orange Avenue, Suite 41)0 Orlun,I,�. 1111(id.i �'.tiul .t0 --941-6_'4I • 8II0-8a8-A120 Fa% ill- -tiiI 1' I i .. s Prudential Securities k% Jeannette Markus Vice President -Investments Certified Financial Planner Performance Monitoring Proposal for Sebastian Police Officers Retirement Trust Fund Attn: Larry Napier, Director of Finance Our performance monitoring provides an objective third -party analysis from our in-house data base of 500 Bank Advisors, 100 Insurance Advisors, 1200 Independent Advisors (such as your advisor, Investment Counsel Company), and 959 Mutual Fund Advisors. We simplify your particular Funds' results into an understandable and customized report, thereby fulfilling the 3- ya",\ year F.S. Chapter 185 requirement and satisfying your fiduciary capacities as Board members for the Fund. The report will answer 5 basic questions: * Did the Fund Results Meet Your Objectives? * What Market Conditions Existed During the Review Period? * How Did Other Managed Fund Perform During the Same Period? * How Much Risk Did Manager Take In Achieving Results? * Did the Manager Add Real Value to Your Fund? The cost for the work involved is $500 and the agreement that all future executions of bond and/or equity trades would be through myself and Prudential Securities, at best possible price. The future services to which the Fund will be entitled will be (besides the Performance Report): - My attendance at your annual review meeting, and quarterly if necessary. Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 Prudential Securities (& Jeannette Markus Vice President -Investments /WON) Certified Financial Planner - My being available toll-free whenever you have a question about the Key Trust balance, performance etc: I become your personal link to Key Trust and Investment Counsel Company of Orlando. I communicate between the Finance Director, the Bank, and the Manager. Example: if no retirement -disbursements are foreseen, and there is a surplus of cash in the Fund, then I notify I.C.C. immediately to invest the funds, thereby achieving maximum profitability for the Fund, instead of allowing cash to remain dormant. - My specialty is value-added service small to medium-size Police and Fire plans; my reputation is excellent, and I have a good working -relationship with I.C.C. and Dave Raudman of Key Trust. I help small plans grow larger! - There is no extra fee for travel or any other service I provide, other than what I already mentioned in paragraph #2. The research, reporting, and the services you will receive are of the high caliber which is expected by very large police pension plans; I am honored to accomplish these for your Fund and to be hired as your on-going Consultant. Sincerely, f Jeannette Markus Certified Financial Planner Vice President -Investments PRUDENTIAL SECURITIES, INC. JM/rp Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 Prudential Securities (a Jeannette Markus Vice President -Investments Certified Financial Planner Jeannette Markus Certified Financial Planner Vice President—Investments Prudential Securities, Inc. Jeannette Markus has been a securities broker for 12 years, with the past eight years at Prudential Securities. Jeannette specializes in assisting small to medium size public pension plans in performance measurement, as well as providing investment advice to individuals, non—profit charitable organizations, and private pension funds. Jeannette has been a Certified Financial Planner (CFP) for six years and holds a BS (Finance) cum laude from American University in Washington, D.C.. Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 Prudential Securities (& Jeannette Markus Vice President -Investments Certified Financial Planner SEBASTIAN POLICE OFFICERS RETIREMENT TRUST FUND Advantages of Selecting Jeannette Markus as your Consultant * She communicates well (by toll-free telephone) with the members of the Board; she speedily facilitates investment of the Fund's surplus cash, when appropriate, for maximum profitability for the Fund. * She is the "watch -dog" of the Fund, assisting your Board in monitoring the performance and quality of the investments and that they adhere to the Town Ordinance and F.S. Chapter 185 rules. * She personally assists you in understanding the monthly statements and performance reports; remember, no other institutions provide you with a personal representative to help you with this task! * She attends every Board Meeting of each police pension plan for which she consults; she affords knowledge and guidance to assist you, the Trustees, in making better decisions. * She is a specialist for small and medium size public plans, offering attentive, "in-person" service, which consultants for large police plans are unable to offer and maintain. Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 Prudential Securities qWW Jeannette Markus Vice President -Investments �. Certified Financial Planner ADHERENCE TO F.S.185 Both Prudential Securities and Jeannette Markus, in working with the Sebastian Police Officers Retirement Trust Fund, will abide by and uphold F.S.185, and the Rules of the Department of Insurance as they pertain to Performance Evaluators and the investment management of this fund. REFERENCES AND REPRESENTATIVE LIST OF LOCAL CLIENTS Below are the names and telephone number of Mrs. Markus' consulting clients which may be contacted as references: City of Lantana Police Relief and Pension Plan 500 Greynolds Circle Lantana, FL 33462 Sgt. Thomas Bates Administrator/Treasurer (407) 585-6416 Approximate value of plan: $1,600,000 City of Hialeah Gardens Detective Juan Saavedra Police Pension Plan Administrator 10001 N.W. 87th Avenue (305) 558-3333 Hialeah Gardens, FL 33016 Approximate value of plan: $700,000 Prudential Securities Incorporated, Crocker Plaza, Suite 600, 5355 Town Center Road, Boca Raton, FL 33486 Tel. 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516 DATE: TO: FROM: RE: City of Sebastian POST OFFICE BOX 780127 ❑ SEBASTIAN, FLORIDA 32978 TELEPHONE (407) 589-5330 o FAX (407) 589-5570 M E M O R A N D U M March 24, 1992 Robert S. McClary City Manager Kathryn M. O'Halloran City Clerk Chief Petty Reappointment to Police Retirement Board of Trustees 0n September 12, 1990, City Council appointed Chief Earl Petty to fill the unexpired term vacated by Chief Reynolds on the above referenced board. Chief Reynolds was originally appointed on October 25, 1989 as the fifth member. The term in question was to have expired on October 25, 1991. On January 22, 1992, City Council, in accordance with the Board recommendation dated January 10, 1992, to reappoint all members, passed motions to reappoint Larry Napier and Gregory Gore and confirm the appointments of Sergeant Ewert and Captain Puscher for terms to expire on October 11, 1993. The staff recommendation did not refer to Chief Petty's reappointment, therefore, no motion was made to this effect. Below is an excerpt from Ordinance No. 0-89-15 governing the Board of Trustees: "(3) a fifth (5th) member, elected by the other four (4) members of the Board, to be appointed by the City Council as a ministerial duty, for a two (2) year term. Such fifth (5th) member shall be allowed to succeed himself or herself in office for additional two (2) year terms if re-elected." 141,111)Do we need to place this on a future City Council agenda to authorize this reappointment? cc: * Chief Earl Petty * Board of Trustees Sam Prudential Secunties (& 'ROW Jeannette Markus Associate Vice President -Investments Certified Financial Planner Prudential Securities Incorporated Crocker Plaza, Suite 600, 5355 Town Center Road Boca Raton, FL 33486 407 394-7539 FL 800 432-5676 Nat'l 800 327-0516