HomeMy WebLinkAboutR-77-0287MOT-77-211
RPC/rb
S/18/77
RESOLUTION No, 77487
A 1t8OLUTIoN ACCEPTING AND APPRoVING THE
ATTACHED MARCH 1, 1977 STATEMENT 8Y THE
BOARD or TRUSTEES OP THt MIAMI CITY tMloLoY1tS1
RETIREMENT SYST2M; DESIGNATING BANT(tA8 TRUST
CoMPANY, XtMPtR FINANCIAL StRVICES, INC, AND
MONTAG & CALDWttL, INC, AS INVESTMENT CONSUL-
TANTS Polz Tilt SAID SYSTM WITH EACH PIRM
HAVING EQUAL AUTHORITY AND RESPONSIBILITY To
COMPETE BETWEEN THEMSELVES oN THE SAME 8ASIS,
NAMELY, EACH WILL st A8Lt To INVEST IN THE
INVESTMENT MARxtT, 8oNDS, AND tQUITIES, ALL
IN ACCORDANCE WITH THE AFORESAID MARCH 1,
1977 STATEMENT: FURTHER AUTHORIZING NEW
AGREEMENTS WITH THE AFORESAID INVESTMENT
CONSULTANTS INCORPORATING THE STATED GOALS
OF THt BOARD OF TRUSTEES, SUBJECT TO APPROVAL
AND RATIFICATION BY THIS COMMISSION.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OP
MIAMI, FLORIDA:
Section 1. The March 1, 1977 Statement of Precepts
and Goals made by the Board of Trustees of the Miami City
Employees' Retirement 'ystem is hereby accepted and approved.
Section 2. The following investment consultants are
herey designated as having equal authority and responsibility to
compete between themselves on the same basis, namely, each will
be able to invest in the investment market, bonds, and equities,
all in accordance with the aforesaid March 1, 1977 Statement
(copy of which is attached hereto and made a part hereof):
BANKERS TRUST COMPANY
280 Park Avenue
New York, New York 10017
KEMPER FINANCIAL SERVICES, INC.
120 LaSalle Street
Chicago, Illinois 60603
MONTAG & CALDWELL INC,
29th Floor
First National Bank Tower
Atlanta, Georgia 30303
DE)C
*1 •
1-rt*:..INI
ITV COMMISSION
MEETING OF
MAR2 4 1977
KINOLUTION
LTITt
gection 3. New agreements with the aforesaid
investment consultants, inCorporatinq the stated goals of the
goard of Trusteeste hereby authori2ed, subject to approval
and ratification by this COMMisgioh.
PAggtO ANO ADOPTED this 24th day of Maroht 1977.
MAURIC.As_FERRE,
MAURICE A. FERRE
MAYOR
ATTEST:
/:/,
C--- M
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(\ "RALPH G. ONGIE
CITY CLERK
PREPARED AND APPROVED BY:
ROBERT F. CLARK
ASSISTANT CITY ATTORNEY
APP OVED S TO FORM AND CORRECTNESS:
GE F. KJSX, JR.
CITY ATTORI2
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