PARK RIDGE POLICE PENSION FUND
QUARTERLY MEETING OCTOBER 18th, 2006

President Kappler called the meeting to order at 712pm. A roll call of the trustees was taken: Present was Treasurer Carl Brauweiler, Trustees Jon Moehrlin, Richard Paul and Tom Ahibeck. Board attorney Charles Atwell and Mary Tomanek from Smith Barney were also present for the
meeting.

A motion was made to accept the minutes from July 17, 2006 by Tom Ahlbeck and seconded by Carl Brauweiler. All were in favor — motion passed.

President Kappler advised the board that two new officers had been hired. Officer Juan C Panizo was hired on August 28, 2006 and Officer Michael Pucillo on September 18, 2006. A motion to accept the two into the fund was made by Carl Brauweiler and seconded by Jon Moehrlin. All were in favor- motion passed.

Commander Peter Bostrom retired with 28 years of service with the department on September 16, 2006. President Kappler made a motion to accept his retirement application and Jon Moehrlin seconded it. All were in favor — motion passed.

Officer Terrence Conley passed away on September 28, 2006. His wife Margaret Conley survives him. She has filled out all of the necessary paperwork to convert the pension to a widow’s pension. His yearly benefit is $31,911.00. A motion was made to accept her widow’s application and seconded by Richard Paul. All were in favor — motion passed.

Mr Atwell stated he would be sending Patrick Duggan to Doctor Soloman for his evaluation.

Mary Tomanek from Smith Barney went over our quarterly statement and advised that we will re­balance in April to stay in line with the state law. She advises that we had a good quarter and if the federal government stops raising rates we will have a slower rate of growth.

A motion was made to approve the financial report she presented by Richard Paul and seconded by Jon Moehrlin. All were in favor — motion passed.

New Business: President Kappler presented to the board pension liability insurance policy underwrited by Gallagher insurance. After much discussion on the matter it was decided by the board that it wasn’t warranted for the board.

President Kappler also discussed the quote that we received from Digital Solutions and after much discussion the board decided to get another quote before going ahead with the job.

A motion was made to adjourn by President Kappler at 945pm and seconded by Jon Moehrlin. All were in favor — motion passed.

Attached to these minutes is the pay schedule for Lauterbach and Amen.

Next Meeting January 24, 2007 at 7pm.

These minutes were compiled by President Kappler.