FMTF06-24-03BOARB OF TRUSTEES
Florida Municipal Trust Fund Retirement Plan antl Trust
For the Firefighters antl Police O(fcers, City or Longwootl
Commission Chambere, lT6 W. Warren Avenue, Longwootl, Florida
REGULAR MEETING
June 24, 2003 Minutes 6:15 p.m.
P[esent'. Jack Smythers, VlcaGhalnnan
Member Robert Retltlitl
Member James Seibed
Member James Bishop. (arrived &1] p.m.)
Debby Relmere, Repordln9 9ecmtary
Absent Glint Oloielll. Chairman
1. Call to Order.
The Vice~Chairman called the meeting to order at fi:16 p.m.
2. Approve Minutes of the March 18, 2003 Meeting.
MSC (SeibeNRetldiit] to approve the Minutes of the March 18, 2003
ting. The motion passed by a unanimous voice vote 4-0-1wiM
Chairman Gioiolli absent.
3. FitluciaryLiabiliry Insurance Coverage.
The hoard discussed the coverage they desired. I! was mentioned to the board that this
erage is not for loss of the fund due to a drop In the market but rather to ocver the board If
They were sued after deciding a disability case.
MBC (SmytherelBishop] to have $1,000,000 per person Fiduciary Liability
Insurance Coverage. The motion passed bye unanimous voice vote b-0-1
with Chairman GioielYi ahsen[.
V'rce-Chairman Smythers asked the secretary to verify this coverage with the Director of
Financial Services.
4. Election of Board Chairman.
MSC ]BeibeNRetltlittj no inated Vice-Chairman Smythers as Chairman.
The motion passed by a unanimous voice vote 4.0-1 with Chairman Gioielli
absent.
Vice-Chairman Smythers accepted the nomination.
S. Election of Boartl Vice-Chairman.
MSC [SmytherslSelUert] no noted Member Bishop as Vice-Chairman. The
motion passed by a unanimous voice vote 4-0~1 with Chairman Gioielli
absent.
Member Bishop accepfed Ris nomineliori_
6. Election of Boartl 5erretary.
MSC [Smythersl5eibert] nominated Member Retlditt as Boartl Secretary.
The motion Rassetl by a unanimous voice vofe 40.1 with CUairman Giolelll
absenf.
Member Redditt 6csmpled Ne nomination.
]. Review of AC3enda Packat Material(s).
a. 8takament of AccounF Our Indivitluel MamUars for the period 0 2161/2 0 0 3 fhrougU
03/3113003.
b. Investment Muarterly Review
s cnmineivl5tl (nal Ois iuntl looked good Ha said Marts snowed
8. Member Comments.
None.
9. Public Participation.
None.
10. Adjournment.
The moetinq vdjoumed at ~ 5B p m.