HomeMy WebLinkAbout1938-09-12 MinutesMeeting of the Board of Trustees of the ?Jireman's
Pension Fund was held on Sept. 12th, I938. with the
following present: Chairman, A.D.McAllister,secretary
J.W.McOehee and members, Clyde 'halters. John Dunson
and J.O.Mayes.
Minutes of the last meeting as held on April
25th, I935 were read,and approved by a unanimous
vote+of all members present.
Motion made by Clyde Walters and seconded by
J.O.Mayes, bhat in view of the fact, that the pres-
ent balance kof about $2400.00) of the Pension Fund
is drawing only 2 % interest, and that there is every
J�Etrfor the funds to produce as much revenue as is possi-
ble, that the funds be inverted in -Yhe property
known as the "Old Parker Nursery Bldg`: on the S.W.
corner of Lafayette and N.West Streets, which has a
rental value of $30.00 per month, and can be bought
, due to the slight damage caused by the new construe
tion on Lafayette Street, for the sum of § 2500.00
On roll call by the Searetary, there were 3 Ayes. and
no Nays. and the Chairman declared the motion carried
Motion by Clyde �Iialters and seconded by J.O.Mayes
that in view of the $ANY present bank balance being
a little short of the purchase price of the building
and to meet the pension payments, until such time
as the April Pension funds receipts are obtained,
that � 400.00 of the Fayetteville Building & Loan
Stock be returned at Par.
Upon the question being put before the meeting,
the same carried unanimously, and the Chairman so
declared*
The Fire Chief, Clyde Walters, presented
the applications of S.M.Cook and Hughe Barnes, retir-
ed members of the Fayetteville Fire Department, for
Pensioms under the terms of act 49I. Acts of Arkansas
approved March 26, I92I.
In support of their claims, they had each one filed
a list of affidavits, with the City Clerk, establish -
beyond any doubt that they had served as members of
the Fayetteville Fire Department for a period, exceed
ing Twenty years, it further appearing from the City
records that the said S.M.Cook and Hughe Barnes have
been continuouslyXX in the service of the Fayette-
ville Fire Department for five consecutive years,
• immediately preceeding thlAXdKXN the date of their
retirement , August I72 I938,
Clyde Walters made a motion that said S.M.Cook and
Hughe Barnes be retired on a pension of Twenty Five
($25) per month, said sum being the minimum amount
allowed under said act 49I of Acts of Arkansas, said
Pensions to start from August I8, I938.
Over
Page 25.
with first payments to be made on October I,I93 41
and on the r'irst day of each month thereafter,
J,O,Mayes seconded the motion, and on roll call
by the Secretary, the following vote resulted;
Ayes: Walters, Mayes and Dunson. Nays: none and
the Chairman declared the motion carried.
The bill of the First National Bank for $3.0u
for box rent for 2 years, to 7-29-I939 was pre-
sented, and J.O.Mayea:made a motion that the bill be
allowed, seconded by John Dunson, and on the vote
bei#g taken, was passed unanimously.
There being no further business, J.O.Mayes
moved to adjourn, seconded by John Dunson, which
carried unanimously, and the chairman declared the
meeting adjourned.
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