12-16-1993 - Special
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Edgewa~er Firefigb~ers' Pension Fund
Minutes
Special Meeting
Thursday, December 16, 1993
Fire Administration Office, 1605 S. Ridgewood
6:36 P.M.
The Special Meeting of the Firefighters' Pension Fund was called to Order by
Chairman Al Gilbert on Thursday, December 16, 1993 in the Fire Administration
Office, 1605 South Ridgewood A venue at 6:36 p.m.
Roll Call: Members present were: Mr. Ben Wagner, Chairman Al Gilbert, and
Firefighter James Cas tetter. Chief William C. Vola and Mr. Robert Morin were
absent. Also present were Mr. Steve Burkhalter from Smith Barney Shearson and
Recording Secretary Lisa R. Warren.
Approval Of The Minutes: The Minutes for the October 28, 1993 Regular Meeting
were submitted for approval. Mr. Wagner moved to accept the Minutes as submitted.
Firefighter Castetter seconded. Motion CARRIED 3-0.
Investment Report: Mr. Steve Burkhalter presented his investment
recommendations. He stated the Fund has $21,800 in cash to invest at this time. He
suggested investing in a Federal National Mortgage Association Bond (FNMA)
which will yield a little over 6%. There was discussion regarding different aspects of
investments. Firefighter Castetter moved to accept Mr. Burkhalter's' recommendation
to purchase the FNMA Bond in the amount of $20,460 to include the $150
transaction fee. Mr. Wagner seconded. Motion CARRIED 3-0. The Board thanked
Mr. Burkhalter for his services and he left at this time.
Chairman's Report: Chairman Gilbert stated he wanted everyone to be aware of the
investments and how they work. Chairman Gilbert discussed a letter that he sent to
Mr. Munoz in the Finance Department.
Chairman Gilbert informed the Board there was another Trustees School put on by
FPPf A in Tallahassee on January 31 through February 2. He added the next school
would be in June and it would be held in Daytona Beach at the Marriott.
Old Business: There was no old business at this time.
New Business: Chairman Gilbert noted that a Pension Board Member's term was due
to expire in January. He added this was one of the Board Members that was elected
by the membership of the fund. He stated ballots had been given out to the Fire
Department members and that they would be opened at this time. The ballots were
opened by Trustee Wagner and read by Chairman Gilbert. Firefighter Michael Hayes
was elected to the Board. Mr. Wagner reminded Chairman Gilbert that there would
have to be an election for the office of Secretary at the next meeting. Chairman
Gilbert thanked Firefighter Castetter for serving on the Board.
Adjournment: There being no more business to come before the Board at this time,
Mr. Wagner moved to adjourn. Firefighter Castetter seconded. Meeting adjourned at
7:06 p.m.
If any person deQides ~o appeal any decision made by ~he pension Board of Trus~ees
wi~h respeQ~ ~o any ma~~er considered a~ ~he above mee~ing, ~ha~ person will need a
record of ~he proceedings and, for SUQh purpose, may need ~o ensure ~ha~ a verbatim
record of ~he proceedings is made, which record includes ~he ~es~imony and evidence
upon which ~he appeal is ~o be based.
In aQcordance wi~h ~he AmeriQaDS wi~h Disabili~ies Ac~ of 1990, persons DeediDg a
special aQQommoda~ion ~o par~iQipa~e iD ~his proceediDg should Qon~ac~ Fire
Adminis~ra~ion no later ~han 7 days prior ~o ~he proceeding.
Telephone (904) 424-2445 for assis~ance, if heariDg impaired, ~elephone ~he Florida
Relay Serv.l,Qe RwIIbers, 1-800-955-8771 (TDD) or 1-800-955-8770 (voice), for
assiB~ance.
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