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The board unanimously approved drawing down $500,000 from Kayne Anderson for cash needs, with no other investment allocation changes recommended. It also voted 3-2 to terminate its special legal counsel contract and unanimously moved future meetings to a 9:30 a.m. start.
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The $500,000 withdrawal is intended to provide cash for the retirement system without changing its broader investment mix. The board also ended its special legal counsel contract; the minutes record a motion to begin a new selection process, but not the outcome of that motion. Several new members and two retirements were approved, while discussions about staff workers’ compensation coverage and security-risk insurance remained unresolved or were postponed.
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