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HomeMy WebLinkAbout_2008 10 30 City Commission Special MinutesCITY OF WINTER SFRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING OCTOBER 30, 2008 CALL TO ORDER The Special Meeting of Thursday, October 30, 2008 of the City Commission was called to Order by Mayor John F. Bush at 10:30 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 Donald A. Gilmore, present Commissioner Robert S. Miller, present Commissioner Rick Brown, present via telephone Commissioner Sally McGinnis, present Commissioner Joanne M. Krebs, present City Manager Ronald W. McLemore, present City Attorney Anthony A. Garganese, absent REGULAR AGENDA REGULAR 600. Office Of The City Manager Requesting The City Commission To Consider The Recommendations Of The Board Of Trustees Regarding Snow Capital Management. Mayor Bush recognized Chairman A. Mark Sardo of the Board of Trustees who was in attendance. Mr. Kevin Smith, Director, General Services Department introduced this Agenda Item for discussion. Discussion. As to a suggested Motion, Mr. Smith remarked, "I would believe that a Motion to accept the recommendations of item `600' would be appropriate." "I WILL MAKE THE MOTION." MOTION BY COMMISSIONER BROWN. CITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING -OCTOBER 30, 2008 PAGE 2 OF 3 MAYOR BUSH READ THE STAFF RECOMMENDATIONS NOTED IN THE AGENDA ITEM AND STATED, "MOTION WOULD BE TO DIRECT BOGDAHN CONSULTING TO ISSUE A RFP (REQUEST FOR PROPOSAL) FOR A NEW BROAD VALUE EQUITY MANAGER TO REPLACE SNOW CAPITAL MANAGEMENT. 2. TO AUTHORIZE THE BOT (BOARD OF TRUSTEES) TO, VIA THE RFP (REQUEST FOR PROPOSAL) PROCESS, SELECT A NEW BROAD VALUE EQUITY MANAGER TO REPLACE SNOW CAPITAL MANAGEMENT; AND 3. UPON SELECTION OF A NEW BROAD VALUE EQUITY MANAGER BY THE BOT (BOARD OF TRUSTEES), TO BRING BACK THE RECOMMENDATION TO THE COMMISSION FOR APPROVAL. AT THAT TIME, A CORRESPONDING RECOMMENDATION TO TERMINATE THE SERVICES OF SNOW CAPITAL MANAGEMENT AND TRANSFER ITS ASSETS TO A NEW MANAGER WILL ALSO BE BROUGHT TO THE COMMISSION FOR APPROVAL." MAYOR BUSH ADDED, "AND TRANSFER THE ASSETS IN-KIND." MAYOR BUSH ASKED COMMISSIONER BROWN, "IS THAT OKAY WITH YOU?" SECONDED BY COMMISSIONER McGINNIS. DISCUSSION. VOTE: COMMISSIONER BROWN: AYE COMMISSIONER McGINNIS: AYE COMMISSIONER KREBS: AYE DEPUTY MAYOR GILMORE: AYE COMMISSIONER MILLER: AYE MOTION CARRIED. Mayor Bush referenced "Resolution 2008-51 that we passed, this past Monday, which you all have copies of, the SECTION 3., the RFP (Request For Proposal) for a new Financial Advisor - and I am going to read this, `The City Manager is hereby directed to prepare and publish a Request for Proposals [RFP] for the City to retain the services of a new financial advisor. Said RFP [Request For Proposal] shall be published to the general public within thirty (30) days of the effective date of this Resolution.' Now, it is not stated in here, but as I recall in the discussion, when we were doing this Resolution, that the Commission said that -the people that we would be looking at here - that we would want to talk to, who would respond to this RFP (Request For Proposal), would be people -they were not in the business of selling Stocks, Bonds. They were strictly an Advisor -now, that is not in here. But, does everybody agree that that is in fact what was the intent?" CITY OF WINTER SPRINGS, FLORIDA MINUTES CITY COMMISSION SPECIAL MEETING -OCTOBER 30, 2008 PAGE 3 OF 3 Commissioner Sally McGinnis stated, "Correct." Deputy Mayor Donald A. Gilmore commented, "Yes." With further discussion, Commissioner Joanne M. Krebs stated, "I have no objection." Mayor Bush noted, "Let us have a Motion to that effect - to clarify SECTION 3., because it does not say that in SECTION 3." Discussion. "MOTION TO INCLUDE THE INFORMATION IN THERE THAT IT WAS THE INDIVIDUAL..." MOTION BY COMMISSIONER MILLER. COMMISSIONER MILLER ADDED, "...INDEPENDENT." MANAGER McLEMORE THEN SAID, "INDEPENDENT OF SALES AND BROKERAGE OF - INVESTMENT PRODUCTS." COMMISSIONER MILLER ADDED, "THAT IS THE MOTION." SECONDED BY COMMISSIONER McGINNIS. DISCUSSION. VOTE: COMMISSIONER MILLER: AYE COMMISSIONER McGINNIS: AYE COMMISSIONER KREBS: AYE COMMISSIONER BROWN: AYE DEPUTY MAYOR GILMORE: AYE MOTION CARRIED. ADJOURNMENT Mayor Bush adjourned the Special Meeting at 10:43 a.m. RESPECTFULLY SUBMITTED: 6 A D A LORENZO-LUACES, MMC CITY LERK (~ ICED: M CI'~ JO'-.-IN F. BUSH h~0'I'E: These Minutes were approved at the November 10, 2008 Regular City Commission Meeting.