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Home My WebLink About1969-08-04 Minutes• MINUTES OF THE REGULAR MEETING BOARD OF TRUSTEES FIREMEN'S PENSION AND RELIEF FUND August 4, 1969 The regular meeting of the Board of Trustees of the Firemen's Pension and Relief Fund of Fayetteville, Arkansas, was held in the Directors Room in the City Admini- stration Building on Monday, August 4, 1969, at 4:45 p.m. Present: Chairman Wesley M. Howe, Treasurer Albert J. Jones, Secretary Marilyn Moore, Fire Chief Burl Skelton, and Board Members: Paul Blackard and Carl Springston. Absent: Paul Logue and Joe Fraley. No meeting was held on July 7, 1969, a regular meeting day, because of a fire. Mr. Skelton moved to approve the minutes of the last regular meeting on Monday, June 2, 1969, a copy of which had previously been mailed to each Board Member. The motion was seconded by Mr. Blackard, and upon roll call the following vote was recorded: "Aye" Blackard, Springston, and Skelton. "Nay" none. There being three "Ayes" and no "Nays", the Chairman declared the motion passed. The Secretary presented the Authorization Forms to pay the June and July pensions. Mr. Blackard moved that the disbursements be allowed. The motion was seconded by Mr. Springston, and upon roll call the following vote was recorded: "Aye" Blackard, Springston, and Skelton. • "Nav" none. There being three "A,yes" and no "Nays", the Chairman declared the motion passed. Mr. Skelton moved that the Treasurer be authorized to invest the anticipated turnback funds from the Arkansas Insurance Commission. The motion was seconded by Mr. Blackard, and upon roll call the following vote was recorded: "Aye" Blackard, Springston, and Skelton. "Nay" none. There being three "Ayes" and no "Nays", the Chairman declared the motion passed. Mr. Skelton reported that Orville Stout had returned to work and would, therefore, be removed from the Firemen's Pension and Relief Fund rolls. There being no further business, Mr. Skelton moved to adjourn. The motion was seconded by Mr. Blackard and passed unanimously, whereupon the Chairman declared the meeting adjourned. ATTEST: MARILYN N,00 E, SECRETARY 0 APPROVED:�/ YJESLEY M. OY,rE, CHAIRMAN R MAIN OFFICE: THIRD AND SPRING June 5, 1969 leral Savings & Loan Association LITTLE ROCK. ARKANSAS 72201 . AREA CODE 501 - FRANKLIN 5-9911 Mr. George J. Davis, City Clerk Firemens Pension and Relief Fund City Administration Building_ Fayetteville, Arkansas 72701 Dear Mr. Davis: Investments of $5,000.00 or more in our 6 months savings certificates now earn 5.258 per annum paid or compounded quarterly. These certi- ficates are automatically renewable for succeeding 6 months terms and are withdrawable without notice at any maturity date. •Other forms of accounts offered by Pulaski Federal are described on the enclosed "A B C of Savings" sheet. Your funds would be insured safe in any of these accounts by the Federal Savings and Loan Insurance Corporation an agency of the United States Government. In addition to this insured protection you will notice from the enclosed financial statement that our Association maintains a high degree of liquidity, and our surplus exceeds $4 million. We invite you to join the many other pension, profit sharing funds and foundations who maintain accounts with our Association. Please complete the enclosed form indicating the type of account desired and return to me with your check in the enclosed postage paid envelope. Your account will be opened promptly and your certificate or passbook forwarded immediately to you. Any funds received before June 30th will and funds received by July 10th will earn forward to the opportunity of serving you to hear from you soon. Sincerely, 4t)?p W. P. Gulle Jr. • President WPGJR:ejw Enclosures earn from date of deposit from July 1st. We look— as our customer and hope BRANCH OFFICES: LITTLE ROCK. ASHER AND UNIVERSITY: 7612 CANTRELL ROAD: NORTH LITTLE ROCK M 9101 J. F. KENNEDY BLVD. 4 �' aZIa49 ciao 4oaMa SAVINGS ACCOUNT SUMMARY Pulaski Federal Savings and Loan Association. EARNINGS RATE 43/4%. COMPOUNDING Quarterly. GROSS YIELD 4.84% when earnings are left in the account to compound for a year. WHEN EARNINGS Savings received by the 10th BEGIN (or Friday when the 10th is a $ 615.61 Saturday or Sunday) earn 3,390.45 from the first of that month. 7,683.77 Amounts deposited on any 13,120.43 business day after the 10th 20,004.87 earn from the date received. FULL EARNINGS Funds withdrawn at the end TO WITHDRAWAL of a quarterly dividend period DATE receive full earnings for the time invested. Amounts with- drawn between quarterly pay- ment dates earn full dividends to date of withdrawal on funds in the account for at least three months. EARNINGS DATES All earnings are paid quar- terly on March 31, June 30, September 30 and December 31. Earnings are credited the account or paid by ch� if requested. No. of Years 1 5 10 15 20 [HEREiSIHOWIiYOURISAVINGSICANILGROWIATilPFSI SAVE THIS AMOUNT EACH MONTH AND ALLOW INTEREST TO COMPOUND $25/MONTH $ 307.80 1,695.22 3,841.89 6,560.21 10,002.43 $50/MONTH $lOO/MONTH $ 615.61 $ 1,231.21 3,390.45 6,780.89 7,683.77 15,367.54 13,120.43 26,240.86 20,004.87 40,009.73 Computed at the current annual rate of 4.75% compounded quarterly. PFS brings you a NEW • PFS Savings Certificates t5m25% EFFECTIVE JUNE 1, 1969 saving • 5.25% interest paid or compounded at end of each cal- endar quarter. • Certificates issued for terms of six to twelve months. • AND are automatically renewable. • Certificates available in amounts of $5,000 or more. • During June and July 1969, funds received or trans- ferred by the 10th will earn from the first. Thereafter, all certificates will earn from date of deposit. PFS Preferred "90" Savings Accounts 45% EFFECTIVE JUNE 1, 1969 • 5% interest paid or compounded quarterly. • $1,000.00 minimum balance required. • 90 -day written notice required before funds may be with. drawn. Funds on deposit at least three months may be withdrawn at a quarterly dividend paying date without notice. • Funds deposited by the 10th of the month earn from the first day of the month, or from date of deposit after the 10th. PFS "Full-PayF'Savings Accounts i • 4.75% interest paid or compounded quarterly. • Daily interest on all function deposit three months or more. • No minimum balance required. • Any amount may be deposited or withdrawn at any time. • Funds deposited by the 10th of the month earn from the first day of the month, or from date of deposit after the 10th, *PFS Savings Certificates and PFS Preferred "90" Savings Accounts will become available June 1, 1969. However, arrangements may be made immediately to open an • account or transfer funds from one account to another, with no loss of earnings. Pulaski F deral Savings and LOarT Acaociation Little Rock, Arkansas -Third 6 Spring/ Asher & University/ 7612 Cantrell Road 0 North Little Rock -3101 John F. Kennedy Blvd. 11 • L I L CITY OF FAYETTEVILLE June 4, 1969 Mr, R. Douglas Wright Treasurer First Federal Savings and Loan Association of Little Rock 312 Louisiana Street Little Rock, Arkansas Dear sir: Enclosed is passbook Ko. 5-35342-5 for the Citv of Fam•etteville Firemen's 'ension and Relief Fund showing a balance of $5,000•00• Please credit the $59OW•00 from this account to the check sent you yesterday, which will make a total of $15,000.00 to be issued in the form of a new Certificate. Please send a aignature card for execution. Enclosure `-'incerel� yours, Albert J. Jones City Controller