HomeMy WebLinkAbout1967-01-09 MinutesMINUTES
• OF
THE REGULAR MEETING OF THE BOARD OF TRUSTEES
OF
THE FIREMEN'S PENSION & RELIEF FUND
The regular meeting of the Board of Trustees of the Firemen's Pension &
Relief Fund of Fayetteville, Arkansas, was held in the City Clerk's Office
on Monday, January 9, 1967, at 4:45 P.M.
Present: Fire Chief Burl Skelton, Secretary George J. Davis, and Board
Members: Bill Harris, Doyle Morrison, Charles McWhorter, and Clarence Tune,
Absent: Chairman Mayor Don Trumbo, and Treasurer Albert J. Jones.
In the absence of Mayor Don Trumbo, Fire Chief Burl Skelton acted as Chairman
Pro Tem.
The minutes of the regular meeting on Monday, December 5, 19669 were read
and approved.
The Secretary presented the authorization Form to pay the December Pensions.
Mr. Tuneismoved that the disbursements be allowed. The motion was seconded
by Mr. McWhorter, and upon roll call the following vote was recorded, "AYE"
Skelton, Harris, Morrison, McWhorter, and Tune. "NAY" None.
There being five "AYES" and No "NAYS", the Chairman Pro Tem declared the
motion passed.
• The Secretary reported that several of the Savings & Loan Companies had
written that they would ,pay 4 3/4%,vDividend on regular stock (Semiannually)
or 5 T/4% on Savings Certificates (6 mo. or 12 mo.) automatically renewed.
After a long discussion, Mr. Harris moved that the Secretary be and he is
hereby authorized to convert All Savings & Loan Stock to Savings Certificates
wherever they were paying 5 1/4% interest said Savings Certificates to be
automatically renewed by the company.upon maturity.
The motion was seconded by Mr. McWhorter and upon roll call the following
vote was recorded: "AYE" Skelton, Harris, Morrison, McWhorter, and Tune.
"NAY" None.
There being five "AYES" and No "NAYS", the Chairman Pro Tem declared the
motion passed.
The Secretary reported that he had received the final tax distribution for
the year of 1966 and that along with the interest he had received, there was
a surplus of $5POO.00 in the checking account which could be invested as the
Board desired.
Mr. Tune moved that the $5,000.00 be invested in a Savings Certificate with
the First Federal Savings & Loan Association, Fayetteville, Arkansas, at an
interest rate of 5 1/4% payable annually.
The motion was seconded by Mr. Morrison and upon roll call the following vote
was recorded: "AYE" Skelton, Harris, Morrison, McWhorter, and Tune. "NAY" None.
There being five "AYES" and no "NAYS", the Chairman Pro Tem declared the
motion passed.
• The Secretary converted Savings & Loan Stock as follows:
Fayetteville Building & Loan Association $ 102000.00
First Federal Savings & Loan Association, Fayetteville 10,000.00
Additional Purchase, First Federal S & L, " 5,000.00
Springdale Swings & Loan Association 15,000.00
First Federal S & L Association, Rogers 10,000.00
Benton County S & L Association, Bentonville 10,000.00
Harrison Federal S & L Association, Harrison 100000.00
0
•
•
There being no further business, Mr. Harris moved to adjourn.
The motion was seconded by Mr. Tune,and passed unanimously whereupon the
Chairman Pro Tem declared the meetine adlourned.
ATTEST
ECRETAR'
Y�o S
APPROVED:
/& A
FIRE CHIEF BURL SKELTON
CHAIRMAN PRO TEM