Fort Walton Beach Council agenda — 06-26-2007 regular agenda — reading text

Lisa Absher Subject: Re: Pension - Aletheia contact info I have heard nothing back from my phone call and em ail to Aletheia. Sent from my BlackBerry Wireless Handheld Original Message----- From: Lisa Absher < Iabsher@fwb. org> To: Jim Linn Sent: Thu Jun 21 14: 04: 152007 ubject: FW: Pension - Aletheia contact info lv1r. Linn, Can you please be so kind as to give me an update on how the Aletheia contract is coming along? 1  yce' s " cut- off' for putting this item on the agenda for 6/ 26 is today, please see her note to me below. If you think we can have this shortly ( in the next few days), I' m sure we could hold an open space for it on the 6/ 26 Agenda. It' s just that our City Council takes vacation in July- so our next meeting otherwise would be 8/ 14.) I' m so sorry to bother you about this! Please let me know. Thank you so much! Lisa Absher I= inance Director ityof Fort Walton Beach, Florida Office ( 850) 833- 9513 Original Message----- From: Joyce Shanahan Sent: Thursday, June 21, 2007 11 : 15 AM To: Lisa Absher; Mark Wiltsie Cc: Helen Spencer; Michael Beedie; Tony Anderson; Brandy Wunker - DPT005D; Toni Craig ( attycrg@aol.com) Subject: RE: Pension - Aletheia contact info Lisa: I understand that the General Employees Advisory Committee has approved the selection of Aletheia as a new investment the Aletheia contract. Please advise manager for the Plan. I also understand that the Pension Attorney had changes to whether those changes have been made to the contract and whether it is in final form; and further whether the final contract was approved bythe Pension Attorney as to form and legal sufficiency. If so, I believe it can be placed on the council agenda for consideration at this next meet. If you have any questions, please give me a call. Thank you. Joyce Shanahan City Manager 2 City of Fort Walton Beach, FL Phone: 850- 833- 9504 3X: 850- 833- 9640 Cell: 850- 803- 9621 Email: < mailto:jshanahan@fwb. org> jshanahan@fwb. org Please Note: Florida has a very broad public records law. Most written communications to or from City of Fort Walton Beach officials are public records available to the public and media upon request. Your e- mail address and communications may therefore be subject to public disclosure. From: Lisa Absher Sent: Tuesday, June 19, 2007 3: 46 PM To: Mark Wiltsie Cc: Helen Spencer; Michael Beedie; Tony Anderson; Brandy Wunker - DPT005D; Joyce Shanahan Subject: RE: Pension - Aletheia contact info Great, Thanks! isa Absher Finance Director City of Fort Walton Beach, Florida Office ( 850) 833- 9513 Original Message----- From: Mark Wiltsie Sent: Tuesday, June 19, 2007 3: 43 PM To: Lisa Absher Cc: ' jshanahan@fwb. org' Subject: RE: Pension - Aletheia contact info Lisa, I faxed a copy of the investment policy to Jim Linn yesterday. lark 3  Aletheia Research and Management, Inc. liDftAFT 100 Wilshire Boulevard Suite 1960 Santa Monica, California 90401 310) 899- 0800 INVESTMENT MANAGEMENT AGREEMENT AGREEMENT, made this day of 2007, by and between Aletheia Research and Management, Inc., 100 Wilshire Blvd., Suite 1960, Santa Monica, CA 90401 ( the " Investment Manager"), and Account Number the " Client"). WITNESSETH: WHEREAS, Client desires to engage the Investment Manager to supervise and manage such funds and securities as Client may, from time to time, deposit in Client' s account with the Investment Manager in accordance with the terms and conditions hereinafter set forth and the Investment Manager desires to accept such engagement in accordance with such terms and conditions. NOW, THEREFORE, the parties hereto agree as follows: 1. Appointment of Investment Manager. a. Client hereby appoints the Investment Manager as his attorney- in- fact to invest and reinvest the Investment Account Assets ( as defined in paragraph 3 hereof) as fully as client himself could do. 1  3. Investment Account Assets. The Investment Account Assets shall consist of the cash and investments which client may from time to time place in his account with the investment manager plus all investments, reinvestments, and proceeds of the sale thereof, all dividends and interest earned thereon, and all appreciation thereof and additions thereto, less any withdrawals therefrom. 4. Standard of Care. a. The Investment Manager shall perform its duties hereunder with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims. b. The Investment Manager shall diversify the Investment Account Assets so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so. c. The Investment Manager shall discharge his duties hereunder with respect to the Investment Account Assets solely in the interest of Client and in accordance with the Investment Objectives. 5. Representations and Warranties of Client. Client hereby represents and warrants to the 3 Investment Manager that ( a) he is authorized to enter into this Agreement and to appoint the Investment Manager as his Investment Manager in accordance with the terms hereof, ( b) there are no restrictions or limitations on the investment of Investment Account Assets by the Investment Manager or any other activity contemplated by this Agreement, other than as may be communicated from time to time in writing to the Investment Manager, and ( c) Client has received a copy of Part 2 of Form ADV. Client agrees to indemnify the Investment Manager and hold it harmless against any and all losses, costs, claims, and liabilities which the Investment Manager may suffer or incur arising out of a breach by Client of his representations and warranties contained herein. 6. Procedures. All transactions will be consummated by payment or delivery of all cash and/ or securities to or from the Investment Account. The Investment Manager shall instruct all brokers or dealers executing orders on behalf of the Investment Account to forward to client copies of all brokerage confirmations promptly after the execution of transactions. 7. Reports; Meetings. a. The Investment Manager shall provide client with confirmations of all transactions, quarterly statements, and an annual report of the Investment Account Assets. 4 the Investment Manager to reflect their fair market values. Such valuation may incorporate models prepared by bond valuing services, last sale prices for listed securities, and over- the- counter bid prices. Any other securities shall be valued in such manner as determined in good faith by the Investment Manager to reflect their fair market values. 13. Proxies. The Investment Manager does not vote proxies solicited by or with respect to the issuers of securities in which the Investment Account Assets may be invested from time to time. 14. Representation and Warranties