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Minutes, August 23-24, 1989 PAGE 8
<br />Thursday, August 24, 1989
<br />Staff Presentation by Dave Bucknam/Bob Stevenson:
<br />12. DISCUSSION ITEM
<br />Review of Investment Return from Colorado Coal Mine Subsidence Trust
<br />Fund.
<br />A Meeting of the Colorado Coal Mine Subsidence Trustees was convened.
<br />Staff presented ATTACHMENT H- a statement of Investment Results from
<br />Johnson & Higgins. a s ated that Trust Fund monies could possibly
<br />receive higher returns, if invested through institutions other than the
<br />State Treasury.
<br />Mr. Bob Stevenson, a Vice President with Johnson & Higgins, Plan
<br />Administrator for the t4ine Subsidence Protection Program, discussed the
<br />information contained in Attachment H which he had compiled, regarding
<br />private investment sources. He asked the Board to consider outside
<br />investments for Trust Fund monies. This was also a Staff
<br />recommendation.
<br />It was MOVED that the Board grant tdr. Stevenson the authority to
<br />contact p 37ic investment entities and disucss arrangements for
<br />investment of all or some portion of the Trust Fund monies and report
<br />back to the Board with 3 options for consideration, along with a
<br />recommendation for investment at the September Board Meeting. SECONDED
<br />AND PASSED UNANIMOUSLY (Danielson, O'Connor, Donald, Entz,
<br />Kraeger-Rovey and Cooley).
<br />With there being not further business for the Trustees to discuss, this
<br />Meeting was adjourned.
<br />Staff Presentation by John Doerfer:
<br />13. CLIMAX MOLYBDENUM COMPANY
<br />Amax Mineral Resources Company
<br />1707 Cole Boulevard
<br />Golden, CO 80401
<br />Secs. 6, 7 and 18, T8S, R78W; Secs. 2, 3,
<br />TBS, R79W; Secs., 7, 18 and 31, T7 S, R78W;
<br />24, 25, 26, 27, 28, 32, 33, 34, 35 and 36,
<br />Lake, Park and Summit Counties; 12,000 ac
<br />amendment. Continuance, to allow an exte
<br />File No. M-77-493
<br />4,10,11,12, 13 and 14,
<br />Secs. 13, 14, 15, 22, 23,
<br />T7S, R79W, 6th P.M.; Eagle,
<br />res. Consideration of permit
<br />nded review period.
<br />
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