HomeMy WebLinkAbout_2001 09 12 City Commission Regular Minutes
CITY OF WINTER SPRINGS
MINUTES
CITY COMMISSION
JOINT TRAINING SESSION WITH THE BOARD OF TRUSTEES
SEPTEMBER 12, 2001
I. CALL TO ORDER
The Joint Training Session of Wednesday, September 12, 2001 of the City Commission
was called to order by Deputy Mayor David W. McLeod at approximately 5: 15 p.m. in
the Commission Chambers of the Municipal Building (City Hall, 1126 East State Road
434, Winter Springs, Florida 32708),
CITY COMMISSION
ROLL CALL:
Mayor Paul P. Partyka, absent
Deputy Mayor David W. McLeod, present
Commissioner Robert S. Miller, present
Commissioner Michael S. Blake, present
Commissioner Edward Martinez, Jr., present
Commissioner Cindy Gennell, absent
City Manager Ronald W. McLemore, present
City Attorney Anthony A. Garganese, absent
BOARD OF TRUSTEES - PENSION PLAN
ROLL CALL:
Chairman Robert Nippes, present
Vice Chairman Vernon Rozelle, arrived at 5:29 p.rn,
Board Member Vincent Giannoni, arrived at 5:41 p.m.
Board Member Mark Queen, absent
Board Member Mark Sardo, present
II. AGENDA
A. Investment Training.
Mr, Steven Alexander, CeM, Senior Managing Consultant, Public Financial
Management, 201 South Orange Avenue, Suite 720, Orlando, Florida: began the
Training Session with a discussion on Cash Management Tools such as disbursement and
forecasting; and various aspects ofliquidity.
Board of Trustees Member Vernon Rozelle arrived at 5:29 p.m.
CITY OF WINTER SPRINGS
MINUTES
CITY COMMISSION
JOINT TRAINING SESSION - AUGUST 12,2001
PAGE 2 OF 2
Mr. Alexander referenced Chapter 290 of the Florida Statutes.
Board of Trustees Member Vincent Giannoni arrived at 5:41 p.m.
Security Custody and Security Safekeeping Standards (referencing GASB); Issuers
(Federal Government or Municipal Governments); Commercial Paper; Corporate Notes;
and volatile markets were next covered. Then, Fixed Income Securities; Coupons;
Ratings; and Basis Points was discussed.
Tape I/Side B
Maturity terms; Zero Coupon Bonds; Yield Curves; Liquidity; Volatility; Realized
Gains/Losses and Unrealized Gains/Losses; and types of Risks were discussed.
Tape 2/Side A
Deputy Mayor McLeod called a break at 7:01 p.m.
The Joint Training Session was called back to order at 7:34 p.m. by Deputy Mayor
McLeod.
Mr. Alexander further spoke of Permitted Investments (218.415 Florida Statutes) such as
Government Obligations and Municipal Obligations. Flexibility; Repurchase
Agreements; Flexible Repurchase Agreements; Arbitrage regulations; minimizing risk;
Master Repurchase Agreements; and Commercial Paper were next covered.
Bankers' Acceptances; Certificates of Deposit (Negotiable CD's and Non-Negotiable
CD's); Municipal Obligations; Corporate Notes; and Mutual Funds were discussed,
Further discussion covered issues dealing with Local Government Investment Pools;
Derivatives; and Structured Notes,
Tape 2/Side B
Further discussion involved the differences between Brokers and Investment Advisors.
III. ADJOURNMENT
Deputy Mayor McLeod adjourned this Joint Training Session at 8:27 p.m.
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