BD. OF TRUSTEES POLICE & FIREMEN RET. SYS. v. City of Detroit

I respectfully dissent. I do not agree with the majority that the language of 1982 PA 55, as contained in MCL 38.1133; MSA 3.981(113), clearly and unambiguously endows an investment fiduciary with the independent authority to retain private legal counsel and to pay for that counsel with the income of the investment system even where a provision of a city charter requires the investment fiduciary to follow other procedures to obtain counsel. The statute is not clear and unambiguous in its discussion of an investment fiduciary’s authority to hire legal counsel. While such counsel is arguably…