Resolution No. 15-16 v RESOLUTION NO. 15-16
A RESOLUTION OF THE CITY OF ATLANTIC BEACH,
FLORIDA, SUPPORTING POLICE OFFICERS AND
FIREFIGHTERS; REQUESTING LAW ENFORCEMENT
AGENCIES TO INVESTIGATE THE JACKSONVILLE
POLICE AND FIRE PENSION FUND'S STABILITY AND
SOLVENCY; PROVIDING FOR DIRECTION TO THE
CITY CLERK; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, providing for and protecting the public's health, safety and welfare is the
most important duty of any government; and
WHEREAS, the Jacksonville Sheriff's Office, the Jacksonville Fire and Rescue
Department and municipal Police Departments protect and serve our citizens every day with
honor, distinction, integrity and pride; and
WHEREAS, Duval County has entered into a contractual agreements with Police and
Fire employees for work performed, salaries paid and pensions; and
WHEREAS, all members and beneficiaries of the plans have a right to expect and be
assured of fair and equal treatment;and
WHEREAS, all members and beneficiaries of the plans depend on these plans for their
retirement income; and
WHEREAS, allegations were reported to the Jacksonville City Council on October 28,
2015, in a document titled, "Forensic Investigation of the Jacksonville Police and Fire Pension
Fund." The report identifies concerns with investment and management fees, commission
rebates,conflicts of interests,poor investment decision making, lack of transparency, violation of
fiduciary standards under ERISA, conflicts with its general counsel and allegations of waste,
abuse and ethics violations regarding travel relating to the Jacksonville Police and Fire Pension
Fund; and
WHEREAS, the Duval County citizens, as taxpayers, are ultimately responsible for
meeting these financial obligations; and
WHEREAS, the citizens of Atlantic Beach, Florida are also citizens of Duval County
and share in this obligation; and
WHEREAS, all interested parties deserve to have a clear understanding of their
obligations and benefits and must be confident in the financial stability and soundness of the
pension plans; and
WHEREAS, the soundness, structure and implementation of the pension plans has come
under prolonged,wide-ranging and reasonable question; and
WHEREAS, several factors are causing significant apprehension and concern by the
public and civic leaders in Duval County; and
WHEREAS,pension plans are governed by state laws, regulations and rules; and
WHEREAS, the United States Attorney for the Middle District of Florida, the Office of
the State Attorney for the Fourth Judicial Circuit, the Federal Bureau of Investigation, the United
States Securities and Exchange Commission, as the law enforcement leaders in Florida are
charged with ensuring the public's health, safety and welfare; and
WHEREAS, the United States Attorney for the Middle District of Florida, the Office of
the State Attorney for the Fourth Judicial Circuit, the Federal Bureau of Investigation,the United
States Securities and Exchange Commission have the power and authority to investigate criminal
activity relating to pension funds; and
WHEREAS, Representative Janet Adkins, as the Chair of the Duval Legislative
Delegation, formally requested the United States Attorney for the Middle District of Florida, the
Office of the State Attorney for the Fourth Judicial Circuit, the Federal Bureau of Investigation,
the United States Securities and Exchange Commission initiate a review and investigation of the
Jacksonville Police and Fire Pension Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION ON
BEHALF OF THE PEOPLE OF ATLANTIC BEACH,FLORIDA:
SECTION 1. Intent and Purpose. The City of Atlantic Beach joins Representative
Adkins in support of a thorough review and investigation of the Jacksonville Police and Fire
Pension Fund. Specifically, requesting the following to be investigated:
a. Have all laws of the United States and the State of Florida been followed in regards to
the creation, management and funding of the Jacksonville Police and Fire Pension
Fund?
b. The first step in restoring confidence to all parties should be to gather the historical
facts to understand how this crisis arose. This combined with a balanced review will
allow lawmakers to craft common sense solutions and to prevent any future
occurrences.
SECTION 2. Sustainability for the Long-Term. The City of Atlantic Beach strongly
desires, and believes it is imperative for the safe and orderly operation of the county's protective
services to have these plans solvent. Further, it is necessary to restore the public trust in the
solvency and management of the pensions for county public service employees. These men and
women serve, and or have served, to protect our citizens and provide for their health safety and
welfare, in good faith, and deserve to have their pensions well managed in a fair, equitable and
transparent manner.
SECTION 3. Distribution. The City Commission of the City of Atlantic Beach hereby
authorizes and directs the City Clerk to send copies of this Resolution to the United States
Attorney for the Middle District of Florida, the Office of the State Attorney for the Fourth
Judicial Circuit, the Federal Bureau of Investigation, the United States Securities and Exchange
Commissions, all members of the Duval Legislative Delegation and the Commissions/Councils
of all municipal bodies in Duval County.
SECTION 4. Effective Date. This Resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED by the City Commission of Atlantic Beach, Florida, on this
9th day of November, 2015.
9
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CAROL W OODS
Mayor and Presiding Officer
ATTEST:
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DONNA L. BARTLE,
City Clerk