HomeMy WebLinkAbout(0002) 09-15-2020 Special Called Trust minutesCITY OF FORT WORTH, TEXAS
SPECIAL CALLED MEETING TO DISCUSS AMENDMENTS
TO THE TRUST AGREEMEMNT FOR THE FORT WORTH PERMANENT FUND
SEPEMBER 15, 2020
PRESENT:
Mayor Betsy Price
Mayor Pro Tern Jungus Jordan, District 6
Council Member Carlos Flores, District 2
Council Member Brian Byrd, District 3
Council Member Cary Moon, District 4 (Virtual)
Council Member Gyna Bivens, District 5 (Virtual)
Council Member Dennis Shingleton, District 7
Council Member Kelly Allen Gray, District 8 (Virtual)
Council Member Ann Zadeh, District 9 (Virtual)
STAFF PRESENT:
City Manager David Cooke
Sr. Assistant City Attorney, Denis McElroy
City Secretary, Mary J. Kayser
1) Call to Order
With a quorum of the City Council Members present, Mayor Price called the special called
meeting of the Fort Worth City Council to order at 3:02 p.m. on Tuesday, September 15,
2020, in the City Council Conference Room 2020 (formerly 290), Fort Worth City Hall,
200 Texas Street, Fort Worth, Texas.
Mayor Price noted that Heidi Coombs, Vice President — Wells Fargo, N.A., trustee of the
Fort Worth permanent Fund was present.
2) Presentation of Proposed Amendments to the Trust Agreement for the Fort Worth
Permanent Fund.
Mayor Price turned the meeting over to Reggie Zeno, Chief Financial Officer for the City
of Fort Worth.
Mr. Zeno reviewed the proposed amendment to the Trust Agreement for the Fort Worth
permanent Fund to authorize a one-time distribution of corpus of up to $16, 000.000 with
the intent of funding open space acquisition. The distribution will come from the Park &
Recreation (restricted and unrestricted), Water & Sewer and General endowment sub -
portfolios.
This is the second required meeting of the Council with the Trustee. The final vote is
scheduled for December 1, 2020.
CITY OF FORT WORTH, TEXAS
SPECIAL CALLED MEETING
SEPTEMBER 15, 2020
Page 2 of 2
3) Discussion of Proposed Amendments to the Trust Agreement for the Fort Worth
Permanent Fund
There were no questions or comments.
4) Adjourn
There being no further questions or business, Mayor Price adjourned the meeting at 3:04
p.m. on Tuesday, September 15, 2020.
Attest:
Mary J. Kayser
City Secretary
Approved:
Betsy Price
Mayor