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HomeMy WebLinkAbout2008 01 14 Consent 209 Approval of the December 7, 2007 Special Meeting MinutesCITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING ~ DECEMBER 7, 2007 C~ CALL TO ORDER ~'° i~•~. ~-~ The Special Meeting of Friday, December 7, 2007 of the City Commission was called to '°'~'=G~ Order by Mayor John F. Bush at 9:01 a.m. in the Commission Chambers of the Municipal Building (City Hall, 1126 East State Road 434, Winter Springs, Florida 32708). Roll Call: Mayor John F. Bush, present Deputy Mayor Sally McGinnis, present Commissioner Robert S. Miller, present via telephone Commissioner Rick Brown, present Commissioner Donald A. Gilmore, present Commissioner Joanne M. Krebs, present City Manager Ronald W. McLemore, arrived 9:05 a.m. City Attorney Anthony A. Garganese, arrived 9:09 a.m. REGULAR AGENDA REGULAR 600. Office Of The City Manager Discussion On Investments. With brief comments, Mayor Bush suggested, "Maybe we should get a subscription to Bloomberg [L.P.] for our Finance Director?" Deputy Mayor Sally McGinnis stated, "I agree -that is available on the Internet, so, I am not sure a subscription is necessary." Mayor Bush then recommended, "Maybe a subscription to the Wall Street Journal would be appropriate too." Discussion. City Manager Ronald W. McLemore arrived at 9: OS a. m. City Attorney Anthony A. Garganese arrived at 9: 09 a. m. Further discussion. Manager McLemore stated, "We have been added to the -email updates from SBA (State Board of Administration) so we should be getting information as it happens." CITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING -DECEMBER 7, 2007 PAGE 2 OF 3 Manager McLemore stated, "We have been added to the -email updates from SBA (State Board of Administration) so we should be getting information as it happens." Continuing, Manager McLemore remarked, "As of yesterday, all the indicators suggest that "Crisis is over". We will continue to monitor that. Unless something huge happens today, I don't know if there is a need to meet again this afternoon. We'll do that if you like. It's up to you. Certainly, if there was a turn, I would call you again." Commissioner Donald A. Gilmore suggested, "As far as I am concerned, call us." Deputy Mayor McGinnis noted, "I agree." Commissioner Joanne M. Krebs, "Call me on an emergency basis." Ms. Michelle Greco, Director, Finance Department spoke of receiving information. Commissioner Krebs asked, "Can we be sent that information -just make sure you forward it to us and then copy Andrea (Lorenzo-Luaces, City Clerk) as well? Ms. Greco responded, "That's not a problem." Commissioner Krebs then stated, "It would be interesting to know who didn't take any money out and I am sure that you could get that information as well. I would like to know that." Ms. Greco responded by saying, "When I get it, I will forward it to you. And he also sent me a copy of the Contract for BlackRock's [Inc.] Agreement with the State, so as I just got this email at 9:01 [a.m.], I will forward it to you all." Mayor Bush inquired, "Can we have our investment people look at that and give us some idea of what it says." Commissioner Krebs noted, "Good idea, Mayor." Commissioner Rick Brown asked about the selection process for the long term Financial Manager? Manager McLemore stated, "We'll come back with recommendations as to how we should proceed." Furthermore, Manager McLemore explained, "At least I can go over the Contract for services with you by Monday." Continuing, Manager McLemore added, "If I can get a list of recommendations from them on these Funds, I will have that for you too." Then, Commissioner Brown noted, "Long term - I would like to see one (1) or two (2) things, I would either like to see an independent team do a search that is completely independent - do a search for a Money Manager and come back with recommendations to the Commission..." Manager McLemore stated, "...Right..." Commissioner Brown added, "...Or I would like to put the RFP (Request for Proposal) out and actually have them come before the Commission for a presentation." Manager McLemore then noted, "That process is being drawn up to bring to you for your ratification or amendments, whatever. And, I don't know if we can do that by Monday, but I will try." ~s~ ...' ~"..~ ~Z~ ~~ "e~" ~~ s~ Commissioner Brown added, "I would be okay if that even happened first Meeting in January." CITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING -DECEMBER 7, 2007 PAGE30F3 Discussion. Mayor Bush remarked about the Funds and suggested a News Release be sent out on this A and then noted, "It would be nice to have a written News Release - so we are all saying the same thing. Think we could get done in the next hour or so." Manager McLemore 0 stated, "Absolutely." Further discussion followed on how this happened, and that the News Release could ~~ ~~ include information on the status of the interest. Manager McLemore commented that .e~ "What I can do is I'll write up a Press Release today, put out some factual information." s ~- Mayor Bush spoke of discussing this with our Legislators. Commissioner Robert S. Miller stated, "Give me a call this afternoon if you are going to have another Meeting." Commissioner Miller concluded his telephone call at approximately 9: 36 a. m. Mayor Bush suggested that in the Press Release that people be directed to call Manager McLemore or Ms. Greco. Deputy Mayor McGinnis suggested Reporters be referred to the Press Release. Discussion. ADJOURNMENT Mayor Bush adjourned the Special Meeting at 9:41 a.m. RESPECTFULLY SUBMITTED: ANDREA LORENZO-L UACES, CMC AND JOANL. BROWN DEP UTY CITY CLERK APPROVED: JOHN F. BUSH MAYOR NOTE: These Minutes were approved at the 2008 Regulaz City Commission Meeting. CITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING DECEMBER 7, 2007 CALL TO ORDER The Special Meeting of Friday, December 7, 2007 of the City Commission was called to Order by Mayor John F. Bush at 9:01 a.m. in the Commission Chambers of the Municipal Building (City Hall, 1126 East State Road 434, Winter Springs, Florida 32708). Roll Call: Mayor John F. Bush, present Deputy Mayor Sally McGinnis, present Commissioner Robert S. Miller, present via telephone Commissioner Rick Brown, present Commissioner Donald A. Gilmore, present Commissioner Joanne M. Krebs, present City Manager Ronald W. McLemore, arrived 9:05 a.m. City Attorney Anthony A. Garganese, arrived 9:09 a.m. REGULAR AGENDA REGULAR 600. Office Of The City Manager Discussion On Investments. With brief comments, Mayor Bush suggested, "Maybe we should get a subscription to Bloomberg [L.P.] for our Finance Director?" Deputy Mayor Sally McGinnis stated, "I agree - that is available on the Internet, so, I am not sure a subscription is necessary." Mayor Bush then recommended, "Maybe a subscription to the Wall Street Journal would be appropriate too." Discussion. City Manager Ronald W McLemore arrived at 9:05 a.m. City Attorney Anthony A. Garganese arrived at 9:09 a.m. Further discussion. Manager McLemore stated, "We have been added to the - email updates from SBA (State Board of Administration) so we should be getting information as it happens." CITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING - DECEMBER 7, 2007 PAGE20F3 Continuing, Manager McLemore remarked, "As of yesterday, all the indicators suggest that "Crisis is over". We will continue to monitor that. Unless something huge happens today, I don't know if there is a need to meet again this afternoon. We'll do that if you like. It's up to you. Certainly, ifthere was a turn, I would call you again." Commissioner Donald A. Gilmore suggested, "As far as I am concerned, call us." Deputy Mayor McGinnis noted, "I agree." Commissioner Joanne M. Krebs, "Call me on an emergency basis." Ms. Michelle Greco, Director, Finance Department spoke of receiving information. Commissioner Krebs asked, "Can we be sent that information - just make sure you forward it to us and then copy Andrea (Lorenzo-Luaces, City Clerk) as well? Ms. Greco responded, "That's not a problem." Commissioner Krebs then stated, "It would be interesting to know who didn't take any money out and I am sure that you could get that information as well. I would like to know that." Ms. Greco responded by saying, "When I get it, I will forward it to you. And he also sent me a copy of the Contract for BlackRock's [Inc.] Agreement with the State, so as I just got this email at 9:01 [a.m.], I will forward it to you all." Mayor Bush inquired, "Can we have our investment people look at that and give us some idea of what it says." Commissioner Krebs noted, "Good idea, Mayor." Commissioner Rick Brown asked about the selection process for the long term Financial Manager? Manager McLemore stated, "We'll come back with recommendations as to how we should proceed." Furthermore, Manager McLemore explained, "At least I can go over the Contract for services with you by Monday." Continuing, Manager McLemore added, "If I can get a list of recommendations from them on these Funds, I will have that for you too." Then, Commissioner Brown noted, "Long term - I would like to see one (1) or two (2) things, I would either like to see an independent team do a search that is completely independent - do a search for a Money Manager and come back with recommendations to the Commission..." Manager McLemore stated, ".. . Right. .." Commissioner Brown added, "... Or I would like to put the RFP (Request for Proposal) out and actually have them come before the Commission for a presentation." Manager McLemore then noted, "That process is being drawn up to bring to you for your ratification or amendments, whatever. And, I don't know if we can do that by Monday, but I will try." Commissioner Brown added, "I would be okay if that even happened first Meeting in January." Discussion. CITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING - DECEMBER 7, 2007 PAGE30F3 Mayor Bush remarked about the Funds and suggested a News Release be sent out on this and then noted, "It would be nice to have a written News Release - so we are all saying the same thing. Think we could get done in the next hour or so." Manager McLemore stated, "Absolutely." Further discussion followed on how this happened, and that the News Release could include information on the status of the interest. Manager McLemore commented that "What I can do is I'll write up a Press Release today, put out some factual information." Mayor Bush spoke of discussing this with our Legislators. Commissioner Robert S. Miller stated, "Give me a call this afternoon if you are going to have another Meeting." Commissioner Miller concluded his telephone call at approximately 9:36 a.m. Mayor Bush suggested that in the Press Release that people be directed to call Manager McLemore or Ms. Greco. Deputy Mayor McGinnis suggested Reporters be referred to the Press Release. Discussion. ADJOURNMENT Mayor Bush adjourned the Special Meeting at 9:41 a.m. RESPECTFULLY SUBMITTED: :J1EA LORENZO-LUACES, CMC AND \I~' JOANL.{ROWN DEPUTY CITY CLERK APPROVED: NOTE: These Mil1u,es were approved at the January 14,2008 Regular City Commission Meeting.