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Permanent Fund Committee Meeting Minutes November 15, 2007
Session 07-05 a Regular Meeting of the Permanent Fund Committee was called to order at 6:00 p.m. on November 15, 2007 by Dennis Novak at the Homer City Hall Cowles Council Chambers located at 491 E. Pioneer Avenue, Homer, Alaska.
PRESENT: COMMITTEE MEMBERS: JO JOHNSON, MATT NORTH, DENNIS NOVAK, BETH WYTHE
APPROVAL OF AGENDA
The agenda was approved by consensus of the Committee.
PUBLIC COMMENTS REGARDING ITEMS ON THE AGENDA
No members of the public were present.
APPROVAL OF MINUTES
A. Regular Meeting Minutes of October 11, 2007
The minutes were approved by consensus of the Committee.
VISITORS
There were no visitors.
STAFF & COUNCIL REPORT/COMMITTEE REPORTS/BOROUGH REPORTS
There were no reports.
PUBLIC HEARING
There were no public hearing items.
PENDING BUSINESS
A. Schedule Training with City Council Re: Selection of Investment Firm
a. Request for Proposal Permanent Fund Investment Program
Discussion ensued on the lack of response to the RFP and possible means of attracting investors to submit proposals. The Committee requested staff explore the possibilities of notifying prospective investment firms of the RFP. The Committee requested a memorandum be placed on the City Council agenda to request a special worksession for Council, designed to address topics for final selection of the investment firm. The suggested date is January 7th at 4:00 p.m. Matt North agreed to present investment options to the Council.
The Committee scheduled a special meeting for December 11th at 5:30 p.m. for the purpose of discussing and evaluation proposals.
NEW BUSINESS
There was no new business presented.
INFORMATIONAL MATERIALS
COMMENTS OF THE AUDIENCE (3 MINUTE TIME LIMIT)
There was no audience.
COMMENTS OF THE CITY STAFF
None.
COMMENTS OF THE COUNCILMEMBER
None.
COMMENTS OF THE CHAIR
None.
COMMENTS OF THE COMMISSION
None.
ADJOURNMENT
There being no further business to come before the Committee, Chair Novak adjourned the meeting at 7:01 p.m. The next Regular Meeting is scheduled for Thursday, December 13, 2007. A Special Meeting is scheduled for Tuesday, December 11, 2007 at 5:30 p.m. Meetings will be held in City Hall Cowles Council Chambers located at 491 E. Pioneer Avenue, Homer, Alaska.
Submitted by Jo Johnson
