Finance and Audit Committee
Substitute
July 2, 2007
IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION authorizing the Director of the Department of Finance to execute contracts with and make payments to certain vendors providing services relating to the Jackson County, Missouri Employees Pension Plan.
Intro
RESOLUTION # 16294, May 14, 2007
INTRODUCED BY Scott Burnett, County Legislator
Body
WHEREAS, the Jackson County, Missouri Employees Pension Plan (the Plan) has a need for professional investment management advice and services; and,
WHEREAS, the Pension Plan Administration Committee (the Committee) has recommended that the following investment advisers and managers be retained, for the periods indicated:
Vendor Services Amount Period
Asset Consulting Investment Consulting $15,000/quarter 10/01/05 - 12/31/07
Group, Inc.
St. Louis, MO
Hotchkiss and Wiley Investment Management varying percentage 04/01/06 - 12/31/07
Capital Management, of asset value
LLC (avg. $43,000/quarter)
Los Angeles, CA
Enhanced Investment Management varying percentage 04/01/06 - 12/31/07
Investment Technologies, of asset value
LLC (avg. $31,000/quarter)
Palm Beach Gardens, FL
and,
WHEREAS, the execution of the contracts and the payment of the fees referenced in this Resolution are in the best interests of the health, welfare, and safety of the citizens of Jackson County; now therefore,
BE IT RESOLVED by the County Legislature of Jackson County, Missouri, that the Director of the Department of Finance and Purchasing, as Chair of the Pension Plan Administration Committee, be and hereby is authorized to execute contracts with Asset Consulting Group, Inc., Hotchkiss and Wiley Capital Management, LLC, and Enhanced Investment Technologies, LLC, for the services and in the amounts indicated, in forms to be approved by the County Counselor; and,
BE IT FURTHER RESOLVED that the Director of the Department of Finance and Purchasing be and hereby is authorized to make, or cause to be made, all payments required by these contracts; and,
BE IT FURTHER RESOLVED that the Director of the Department of Finance and Purchasing be and hereby is authorized to make, or cause to be made, payments to Corporate Counsel Group and the Eastman Law Firm, in the amounts indicated.
Enacted and Approved
Effective Date: This Resolution shall be effective immediately upon its passage by a majority of the Legislature.
APPROVED AS TO FORM:
______________________________ _________________________________
Chief Deputy County Counselor County Counselor
Certificate of Passage
I hereby certify that the attached resolution, Resolution # 16294 of May 14, 2007 was duly passed on July 2, 2007 by the Jackson County Legislature. The votes thereon were as follows:
Yeas _______9__________ Nays ______0________
Abstaining ______0_______ Absent _____0________
______________________ _________________________________
Date Mary Jo Spino, Clerk of Legislature
Fiscal Note
REVENUE CERTIFICATE
This expenditure will be made from funds in custody of M&I Bank as Trustee. The source of these funds is the Jackson County, Missouri Revised Pension Plan. This Revenue Certificate is not signed by the Director of Finance and Appropriation because such funds are not subject to annual appropriation and not within his custody.