President Kappler called the meeting to order at 700pm. A roll call of the trustees was taken:
Present was Treasurer Carl Brauweiler, Trustees Jon Moehrlin, Richard Paul, and Tom
Ahlbeck, Beneficiary Kim Paul, board attorney Charles Atwell, Mary Tomanek from Smith Barney, and
Sherry Lauterbach and Nathan Gaskill from Lauterbach and Amen were also present.
Charles Atwell attorney discussed the Duggan case. He asked that we get information for him in regards to the range and what the state uses as certification for shooting and handcuffing. He said he would make the calls when he gets the information.
Mary Tomanek spoke in regards to the re-balancing of the fund due to the fact we were over the 35 percent allowed by the state. She also went over the year-end statements. A motion was made to approve investment report by Jon Moehrlin and seconded by Carl Brauweiler. All were in favor — motion passed.
There was discussion over opening a money market account with Smith Barney that would act as our cash flow account. A motion was made by Tom Ahlbeck to open the cash flow account with Smith Barney with the transfer limit of $200,000 each month for payroll, taxes, and vendor checks. The motion was seconded by Jon Moehrlin all were in favor — motion passed. In addition to this motion the checking account would be closed with Chase after the money market is opened and up and running.
A roll call of the board was taken: Jon Moehrlin, Laura Kappler, Richard Paul, Tom Ahlbeck and Carl Brauweiler voted yes.
A motion was made by Tom Ahlbeck to move $1,000,000 dollars from Chase money market to new Smith Barney money market when it’s established. Richard Paul seconded the motion and all were in favor — motion was passed.
A motion was made by Tom Ahlbeck to open up a custody account at Smith Barney to hold bonds currently held by Chase contingent there is no fee. Jon Moehrlin seconded this motion all were in favor — motion passed. I spoke to Mary Tomanek the next day and she stated that there was no fee to open the account.
A roll call of the board was taken: Jon Moehrlin, Laura Kappler, Richard Paul, Tom Ahlbeck and Carl Brauweiler voted yes.
Sherry Lauterbach said she would draft a letter of direction to Smith Barney for the processing of the $200,000 for payroll.
Carl Brauweiler made a motion to approve Lt Robert France’s retirement application effective September 2007 upon reaching his 50th birthday. Jon Moehrlin seconded the motion all were in favor — motion passed.
Laura Kappler introduced Officer Michael Pucillo's letter of resignation that was effective January 19, 2007. He states he wanted his refund to go to the city for his uniforms since he left before completion of two years of service. Sherry Lauterbach stated she would have to get the check not the city since they are his contributions. He would also need to pay tax on them so he would get a 10-99 at the end of the
year. Allison Barrett will send the necessary paperwork. A motion was
made to accept his resignation by Tom Ahlbeck and seconded by Jon
Moehrlin. All were in favor — motion passed.
A roll call was taken:
Carl Brauweiler, Laura Kappler, Tom Ahlbeck, Jon Moehrlin, and Richard
Paul voted yes.
A motion to adjourn was
made by Carl Brauweiler and seconded by Tom Ahlbeck All were in favor of
adjournment motion passed.
President Kappler
compiled these minutes.
Next meeting April 24,
2007 at 7pm.
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