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<br />.- <br /> <br />ORDINANCE NO. 05-1159 <br /> <br />AN ORDINANCE OF THE CITY OF CASSELBERRY, FLORIDA, <br />Al\1ENDING CHAPTER 62, PERSONNEL, ARTICLE XVIII, <br />POLICE OFFICERS' AND FIREFIGHTERS' PENSION PLAN, OF <br />THE CODE OF ORDINANCES OF THE CITY OF <br />CASSELBERRY; Al\1ENDING SECTION 62-484, FINANCES <br />AND FUND MANAGEMENT; REPEALING ALL ORDINANCES <br />IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE <br />DATE. <br /> <br />BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, <br />FLORIDA; <br /> <br />SECTION 1: That Chapter 62, Personnel, Article XVID, Police Officers' and Firefighters' <br /> <br /> <br />Pension Plan, of the Code of Ordinances ofthe City of Casselberry is hereby amended by amending <br /> <br /> <br />section 62-484, Finances and fund management"subsection 6.B.(5)(c), to read as follows: <br /> <br />6. <br /> <br />B. <br /> <br />(5) <br /> <br />(c) <br /> <br />The Board shall not invest more than five percent (5%) of its <br /> <br />assets in the common stock, capital stock, or convertible <br />securities of anyone issuing company, nor shall the aggregate <br />investment in anyone issuing company exceed five percent <br /> <br />(5%) of the outstanding capital stock of that company; nor <br />shall the aggregate of its investments in common stock, capi- <br />tal stock and convertible securities at 1:"O"St market exceed <br /> <br />sixty-five percent f6B%J (65%) of the assets of the Fund. <br /> <br /> <br />SECTION 2: All Ordinances or parts of Ordinances in conflict herewith be and the same <br /> <br /> <br />are hereby repealed. <br /> <br /> <br />SECTION 3: That this Ordinance shall become effective ten (10) days after final reading <br /> <br /> <br />and adoption. <br /> <br />i£,. <br />FIRST READING, this / 1- ~ay of <br />SECOND READING, this g _ day of <br />FINAL READING AND AD PTION, this <br /> <br /> <br />,2005. <br /> <br />ATTEST: <br /> <br />~ ~/lJ~Þ---. <br />Thelma L. McPherson, ity Clerk <br /> <br />bm\cass\pf\12-2ß-04.ord <br />