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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Minutes <br />February 14, 1984 <br /> <br />Schmidt commended Dan Freeman and all those involved for <br />reaching a satisfactory resolution. <br /> <br />Motion by Blomquist, seconded by Schmidt, to waive the <br />reading and adopt the resolution APPROVING CHANGES IN THE <br />PENSION BENEFITS OF THE FIRE DEPARTMENT RELIEF ASSOCIATION. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Dan Freeman reviewed the staff report and stated that the <br />Association is looking at a money manager organization to <br />assume some of the duties. They feel they could do better <br />than the Association has done (12-13%). <br /> <br />Schmidt stated that the Association would be employing a <br />professional financial adviserto assist them in decisions. <br /> <br />Motion by Benke, seconded by Blomquist to waive the reading <br />and adopt the resolution ESTABLISHING THE INVESTMENT <br />PRACTICES FOR THE FIRE DEPARTMENT RELIEF ASSOCIATION. <br /> <br />Janecek inquired about the percentage of money that could <br />be invested. <br /> <br />Freeman indicated that the statute states they cannot <br />exceed 75% of the market value of the fund. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />The Councilmembers decided that the following presentations <br />would be made: Cable Television Update, Steve Schmidt; <br />Water Contamination, Roger Blomquist; City Finances/State <br />Aid, Bob Benke; Citywide Development, Jeanette Janecek; and <br />Team Building/Goal Setting, Liquor Operation, City Hall <br />Renovation, Fire Hall Renovation and Computer System, City <br />Manager and staff. <br /> <br />Staff had nothing to add to the report concerning the Racing <br />Facility in Blaine. <br /> <br />Motion by Harcus, seconded by Schmidt, to waive the reading <br />and adopt the resolution SUPPORTING THE LOCATION OF A RACING <br />FACILITY IN THE CITY OF BLAINE. <br /> <br />4 Ayes - 0 Nayes - 1 Abstain (Benke), Motion Carried <br /> <br />Page Nine <br /> <br />Fire Department <br />Relief Association <br />Investment Practices <br />Report #84-46 <br />Resolution #84-16 <br /> <br />Town Hall Agenda <br />Report #84-47 <br /> <br />Supporting the <br />Location of a <br />Racing Facility in <br />Blaine <br />Report #84-29 <br />Resolution #84-17 <br />