HomeMy WebLinkAbout2008-04-16 Council Minutes - Work Session,.
MAYORKENAI CITY COUNCIL CHAMBERS
PAT PORTER,
Council present: P. Porter, M. Boyle, R. Molloy, R. Ross, B. Eldridge, H. Smalley,
and L. Swarner
Staff present: C. Freas, C. Graves, M. Bondurant, L. Semmens
Laura Bruce, Director of client Relations and Bertram Wagnon, Portfolio Manager of
Alaska Permanent Capital Management were introduced. A presentation was made
related to exploring how to protect the Airport Fund, giving a history/background of
their group who manage money for municipalities and corporations.
Wagnon reviewed an informational packet distributed to council which discussed the
City of Kenai and a proposed Airport Endowment Fund. The packet reviewed goals,
inflation effect on purchase power, asset allocation, etc. Wagnon added, the next step
would be to adopt an investment policy.
Council was asked if it wished to proceed along the line of developing an Airport
permanent fund. Council requested a modeling and another work session to review it.
The work session ended at approximately 6:51 p.m.
Notes prepared by:
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Carol L. Freas, City Clerk
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