10-30-08CITY OF ATLANTIC BEACIi
BOARD OF 'I'ItiTSTEES OF THECA ~ 1~~ ~I~T EOAI~D 1~IEETING D
GENERAL EMPLOYEES SPE
1.
2.
October 30, 200
The City of Atlantic Beach General Employee Special Called Pension Board meeting vvasMcaclVallto MalcoltZi
Tim Townsend, Alan Gleit and Harry Y~
6:00 P.1VY. Those members ui attendance were trustees,
Clemons and Bob 5ternfeld. Also ui attendance were Nelson Van. Liere, Plan Administrator and Ken Harrison via
conference call.
A proval of a Consulting Agreement between UBS and the eons based on t e previousapproval's conditions not
p
with a motion by Tim Townsend and seconded by Malcolm C
having been met. The vote was unanimous to defer until the November 13, 2008 meetuig.
At the September 18, 2008 third quarter meeting, the board unanimously approved going forward with the UBS
contract. The condition for approval was that the board attomudm othe rovi ~on o i NewlYok law.l Subsequently
and UBS specifically agreeuig on everything as proposed m g P
the contract went to UBS for final approval and was ~8 ee ~~'l~d determinedtolbe unacceptable according to Ken
were discussed with the board at tliis October 30, 20 g
Harrison. Mr. Harrison was given until the November 13, 2008 meeting to come up with language he thought would
best protect the City. The action on the contract was defe~ada nil he fundsmand performance evaluation and the to
the services to be performed, conflict of interest between g g
liability exposure to the board members. The board again expressed a desire to have all issues resolved by the next
meeting.
3. Adjourn -Motion by Harry McNally at 6:45pm
~~i.. ~ ~~
~'' ~ O~. Bob Sternfeld
im T end Board Secretary
Board hairperson
Minutes taken and prepared by Nelson Van Liere, Pension $cretained fordacomplete publicp ecord, 247- 80 of the actions taken. Audio tapes of the meetings aze