HomeMy WebLinkAboutR-84-1261a
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11/6/84
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RESOLUTION NO. 54-12b1
A RESOLUTION APPROVING AMENDED PROVISIONS
AS SET FORTH HEREIN REGARDING THE MONEY
MANAGER'S PORTION OF THE "AGREEMENT FOR
RESOLUTION OF PENSION LAWSUITS"
DESIGNATED AS "SECTION 3" APPEARING ON
PAGE 6 OF SAID DOCUMENT, WHICH HAS BEEN
PREVIOUSLY APPROVED BY THE CITY
COMMISSION THROUGH ADOPTION OF RESOLUTION
NO. 84-1213 ON OCTOBER 31, 1984, THEREBY
MANIFESTING THE CITY COMMISSION'S TOTAL
APPROVAL OF SETTLEMENT OF THE GATES CASE
AND OTHER PENSION RELATED LITIGATION IN
ACCORDANCE WITH THE "AGREEMENT FOR
RESOLUTION OF PENSION LAWSUITS" AS HEREIN
AMENDED.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The following amended wording of
Section 3 of the "Agreement for Resolution of Pension
Lawsuits", as found on page 6, thereof is hereby approved,
there having been a previous approval of the remainder of
said "Agreement for Resolution of Pension Lawsuits" by the
City Commission through its adoption of Resolution No.
84-1213 on October 31, 1984, with the herein action of the
City Commission manifesting its total approval of the
settlement of the Gates case and other pension related
litigation in accordance with the "Agreement for Resolution
of Pension Lawsuits" as herein amended:
113. Each board will be responsible, in its
discretion, for selecting appropriate money
managers for its fund. Each board will establish
written guidelines and objectives against which the
money managers' performance will be measured. If a
money manager fails to meet such standards, or
fails to meet its contractual agreement with the
CITY COMMISSION
MEETING OF
NOV 8 IN4
RESOLD,..,, ., $ - 2 1
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board it will be subject to termination at the
,r discretion of the board. The performance of a
money manager shall not be less than 90% of the
median performance of other money managers of
comparable portfolios as determined by the board
and the City Manager or it: shall be immediately
i removed, unless based upon extenuating
circumstances, the board recommends continuation
and such continuation is approved by the City
Commission."
PASSED AND ADOPTED this 8th day of November r 1984.
Maurice A. Ferre
M A Y O R
a T
LPH G. ONGIE, CITY CLER
PREPARED AND APPROVED BY:
ROBERT F. CLARK
DEPUTY CITY ATTORNEY
APPROVF {YS TO,,FfR-M AND CORRECTNESS:
LUCIA A. HERT
CITY ATTORNEY
84-1261
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CITY OF MIAM1, FLORIDA
INTER -OFFICE MEMORANDUM
Honorable May and November 79 1984 FILE
Members of t e City Commission
Proposed Resolution in
1 Settlement of Gates
Case
City Commission Agenda
of 11 /8/84
Lucia A. Db69h,11
City Attorney
Except for one element dealinq with money managers, the City
Commission approved settlement of the Gates case and pension
related litigation at its meeting of October 31, 1984. The
attached proposed resolution incorporates the language indicated
as necessary by the City Commission for its complete approval.
The City Manager is requested to place this item on the November
89 1984 Supplementary Agenda to be considered after 5:30 p.m. If
no Supplementary Agenda is prepared, we are requesting that it be
considered at that time (after 5:30 p.m.) as a non-scheduled
item.
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84-126 1
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MUNICIPAL y
""L0YMiami General Employees Association,
American Federation of State, County and
4011 W. Flagler Street
Suite 501
Miami, Florida 33134
Phone 643-2254
November 7, 1984
Honorable Maurice Ferre
Mayor / City of Miami
3500 Pan American Drive
Miami, Florida 33133
Dear Maurice:
11907
Municipal Employees
President:
A.G. Sherman
Vice -President:
Jack Rabun
Sect. -Treasurer:
Jane Morton
Recording Sect.:
Nancy Weber
Please accept this letter as acknowledgment of our acceptance
of the Amendment to the Agreement for Resolution of the
Pension Lawsuits dated August 10, 1984, as I will be
unable to attend the Commission Meeting November 8, 1984
at 5:30 P.M. at Miami Edison Senior High School.
I regret being unable to attend this meeting but, previous
commitments have made this impossible.
We appreciate your concerns and the concerns of the
Commission for the welfare of the citizens of Miami
which necessitated the fore mentioned Amendment.
We look forward to continuing the working relationship
that we have shared for the past four years.
Respectfu ly,
A. G. Sherman
President
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