HomeMy WebLinkAbout09061990 POPTMINUTES OF THE MEETING OF
THE BOARD OF TRUSTEES OF THE
SEBASTIAN POLICE OFFICERS'
RETIREMENT TRUST FUND HELD
THURSDAY, SEPTEMBER 6, 1~0
The meeting was called to order at 11:07 A.M. Present
were Gregory Gore, Earle Petty, Gene Ewert and Carol
Carswel 1 .
Motion made by Gene Ewert, seconded by Earle Petty to
accept the minutes of the meetings of September 9 and
September 23. Motion carried.
Gregory Gore discussed his conversation with Ms Shoemaker,
the Acting Bureau Chief of the Police Officers' Retirement
Funds in Tallahassee with reference to having Dean Witter
Trust as custodian of the retirment funds. Ms. Shoemaker
said that as a Chapter Plan this was not allowed. Further-
more, our Ordinance setting up the Plan requires a Bank
or at~ least a Public Depository to hold the funds. Dean
Witter is neither of these.
The option of negotiating with a local bank as to their
custodial fees was discussed. The Trustees are still
desirous of having investment Counsel Co. as the investment
agent. Prior to any further decisions, Gene Ewert will
speak with Steve Cochrane of ICC and Bobby Allen of the
Veto Beach P.D. who is very knowledgeable in 185 Plans.
Motion was made by Gene Ewert, seconded by Carol Carswell
to add an additional $20,000 to the CD when it comes due
September 12. Motion carried.
There being no further business, meeting adjoured at 11:30
A.M.
Respectfully submitted,
CAROL CARSWELL
Sec ret ary / Treasurer
AG~DA
S~B~"TIAN I~ICE (FFIC~R"S RETI~
T~DST FUND
~ 6, 1990
1. Call to Order
2.: Approval of minutes - August 9 & August 23
3. Old Business
Discussion of Custodian of Fund
4. Trustee Matters