HomeMy Public PortalAboutR2193 R E S O L U T I O N NO. 2193
WHEREAS, the Board of Trustees of The Metropolitan St.
Louis Sewer District is mindful of its fiduciary obligations with
respect to the voting of proxies of companies whose securities are
owned by The Metropolitan St. Louis Sewer District's Pension Plan,
and
WHEREAS, because of the complexity of issues, and further
because of the direct impact on investment values involved, it is
the Board's considered belief that the Investment Managers that are
employed by the District are best suited to vote the proxies of
shares held in the portfolios they manage,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES
OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, That, as part of the
District's Investment Policy and the Investment Managers'
guidelines, the Board hereby directs and instructs the Investment
Managers to vote proxies of shares held in the portfolios they
manage in accordance with said Investment Managers' own guidelines
and policies and in the best interests of the Pension Plan
beneficiaries.
BE IT FURTHER RESOLVED, That all Investment Managers
voting proxies shall provide to the Board their firms' proxy
policies, and shall provide semi-annual reports to the Board
showing securities voted, issues involved, and the vote made.
The foregoing Resolution was adopted August 10, 1995.