01-26-09 Board of Finance - Laserfiche WebLink

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c~ `- ~ e ~%" . x~ Board of Finance City of South Bend, Indiana 2009 Meeting Minutes Council Member Thomas LaFountain called to order the January 26, 2009 Board of Finance at 4:53 p.m. in the Council Informal Meeting Room. Persons in attendance included: Council Members Dieter, Henry Davis, Jr., LaFountain, Puzzello, Varner, Oliver Davis, Kirsits, Rouse and White; Mayor Stephen Luecke,City Controller M. Catherine Fanello, City Attorney Charles Leone, Tom Price, Rita Kopola, Martha Lewis, Jamie Loo of the South Bend Tribune, and Council Attorney Kathleen Cekanski-Farrand. Council President LaFountain noted that the Board of Finance meeting was called pursuant to the Meeting Notice of January 22, 2009 (copy attached). Election of Board of Finance Officers: Council President LaFountain stated that the first item of business was the election of the Board of Finance offices for the positions of President and Secretary. Council Member LaFountain opened the floor to nominations for President of the Board of Finance. Council Member White made a motion, seconded by Council Member Dieter that 3`d District Council Member Thomas LaFountain continue to serve as the Board's President for 2009. There were no further motions for President. The motion passed. Council Member LaFountain opened the floor to nominations for Recording Secretary of the Board of Finance. Council Member Dieter made a motion, seconded by Dr. Varner that 4~` District Council Member Ann Puzzello continue to serve as the Board's Secretary for 2009. There were no further motions for President. The motion passed. Review of the Annual Investment Report for Calendar Year 2008 & Financial Information by the City Controller: Board President LaFountain then called for a review of the written report of the Investment Officer (City Controller) which summarizes the City of South Bend's investments during the 2008 calendar year and a review of the City of South Bend's overall investment policies. City Controller M. Catherine Fanello noted that she provided earlier to the Council a draft of the 42-page document entitled "Board of Finance of the City of South Bend, Indiana Annual Investment Report for the Year Ended December 31, 2008" with that report being dated January 26, 2009 (copy attached).