HomeMy WebLinkAboutCity of Tamarac Resolution R-84-003Introduced by: C/M Kravitz TEMP. #2975
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1 CITY OF TAMARAC, FLORIDA
2 RESOLUTION NO. R-84-3
3 A RESOLUTION DESIGNATING AN INVESTMENT ADVISOR
FOR THE TAMARAC MUNICIPAL EMPLOYEES' PENSION
4 FUND, AND AUTHORIZING CERTAIN INVESTMENTS
EFFECTIVE JANUARY 1, 1984.
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WHEREAS, the City of Tamarac desires to designate an Investment
Advisor for a portion of the Tamarac Municipal Employees' Pension
Fund, and
WHEREAS, the City's Pension Board, along with members of the
City's Investment Committee, have interviewed applicants and have made
recommendation for the investment of Pension Fund monies, and
WHEREAS, the City Council has previously by motion accepted
the joint recommendation of the Pension Board and Investment Committee,
and desires to formalize that action by Resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC,
FLORIDA:
SECTION 1: That the recommendation to designate the Investment
Counsel Company as Investment Advisor for an initial Two Million
($2,000,000.00) Dollars of the Tamarac Municipal Employees' Pension
Fund, is hereby approved.
SECTION 2: That the recommendation to place the balance of
Tamarac Municipal Employees' Pension Fund, along with all monthly City
contributions and employee contributions hereafter in a money market
fund with Glendale Federal Savings and Loan, is hereby approved.
SECTION 3: That after a period of six (6) months the invest-
ment with Glendale Federal Savings and Loan shall be reviewed by the
Pension Board and Investment Committee, and a report and recommenda-
tion shall then be issued to the City Council for appropriate action.
SECTION 4: That the terms of this Resolution are effective
commencing December 30, 1983.
PASSED, ADOPTED and APPROVED this 3rd day of J qnuary 1984.
MAYOR
ATTEST:
ASSISTANT CITY CLERK
I HEREBY CERTIFY that I have
approved thV orm and correctness
Of this �STION.
�) t
RECORD OF COUNCIL VOTE
MAYOR FALCK:
DIST. 1: C/M KRAVITZ:
DIST. 2: V/M MASSARO:
Cr
ATTORNEY I
J DIST. 3: C/M STELZER:
DIST. 4: C/M KRANTZ: