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Home My WebLink About1969-09-02 Minutes• MINUTES OF THE REGULAR MEETING BOARD OF TRUSTEES FIREMEN'S PENSION AND RELIEF FUND September 2, 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 Tuesday, September 2, 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: Joe Fraley and Carl Springston. Absent at roll call but later entering: Paul Blackard. Absent: Paul Logue. The regular meeting was held on Tuesday, September 2, 1969, due to the Labor Day Holiday on Monday. Mr. Skelton moved to approve the minutes of the last regular meeting on Monday, August 4, 1969, a copy of which had previously been mailed to each Board Member. The motion was seconded by Mr. Springston, and upon roll call the following vote was recorded: "Aye" Fraley, Springston, and Skelton. "Nay" none. There being three "Ayes" and no "Nays", the Chairman declared the motion passed. Paul Blackard entered. • The Secretary presented the Authorization Forms to pay the August pensions. Mr. Skelton moved that the disbursements be allowed. The motion was seconded by Mr. Springston, and upon roll call the following vote was recorded: "Aye" Blackard, Fraley, Springston, and Skelton. "Nay" none. There being four "Ayes" and no "Nays", the Chairman declared the motion passed. Treasurer Albert J. Jones reported that pension contributions had been refunded to three firemen who had resigned from the Fire Department. They are as follows: Jerry Hattabaugh $ 82,41 (8-25-69) Larry Ryan $140.65 (8-25-69) Randall Wright $667,48 (6-18-69) There being no further business, Mr. Springston moved to adjourn. The motion was seconded by Mr. Blackard and passed unanimously, whereupon the Chairman declared the meeting adjourned. • APPROVED: t!1`A/NSLEY M. HOWE ATTEST: MARILYN M00� SECRETARY ... -gin MANUFACTURERS OF WATER AND GAS DISTRIBUTION AND SERVICE PRODUCTS MAIN OFFICE AND FACTORY: DECATUR, ILLINOIS • I CECIL A. BROWN 520 N. 47th St. Ft. Smith, Ark. 72903 Phone: 452.2153 Area Cede: 501 t I Checks written on Fire 0 Pension without the boards approval. Jerry Hattabaugh $82,41 (8-25-69) Larry Ryan $1110.65 (8-25-69) Randall Wright $667.118 (6-18-69) l t i' f I i • • Cash in Bank CITY OF FA.YETTEVILLE, ARKAA]SAS Firemen's Pension and Relief Fund Balance Sheet At August 31, 1969 Assets Checking Account $ 1,693.50 Savings Account 2,415.85 3 41109.35 Investments - At cost 280,000.00 Total Assets $284,109.35 Liabilities and Reserve Officer's Contributions - Refundable $ 15,774.40 Retirement Reserve 268,334.95 Total Liabilities and Reserve 5284;109.35 Statement of Cash Receipts and Disbursements For Eight Months Ended August 31, 1969 Cash Balance, December 31, 1968 $ 13,213.66 Receints Propert:v Taxes $ 17,171.36 State Insurance Commission 13,261.62 Interest Received 83562.31 Officer's Contributions 2,959.68 Ambulance Service Payments 583.34 Total Receipts 421538.31 Total Available $ 55,751.97 Disbursements Pensions Paid $ 15,752.08 Purchase of Investments 35,000.00 Refunds of Officer's Contributions 890.54 Total Disbursements 51,642.62 Cash Balance, August 31, 1969 42109.35 L CITY OF FAYETTEVILLE, ARKANSAS Firemen's Pension and Relief Fund • Schedule of Investments At August 31, 1969 Date Interest Acquisition Maturity Rate Cost Savings and Loan Associations Fayetteville 1-10-69 1-10-70 51 $ 101000.00 Fayetteville 7-12-69 7-12-70 54 5,000.00 First Federal of Fayetteville 1-10-69 1-10-70 5? 15,00G.00 First Federal of Rogers 1-12-69 1-12-70 54 103CCO.00 First Federal of Rogers 7-13-69 7-13-70 54 5,000.00 First Federal of Fort Smith 2-7-69 2-7-70 51 15,000.00 Standard Federal of Fort Smith 10-17-68 10-17-69 5� ;'15,000.00 Superior Federal of Fort Smith 1-10-69 1-10-70 51 ilc,000.00 Peoples Federal of Fort Smith 1-15-69 1-15-70 51415,000.00 United of Fort Smith 8-13-69 8-13-70 5,=_ 157000.00 Springdale 1-10-69 1-10-70 51 153000.00 Benton of Bentonville 1-11-69 1-11-70 54 10,000.00 Benton of Bentonville 8-10-69 8-10-70 571. S,OGC.CO Federal of Harrison 1-11-69 1-11-70 5r 10,000.00 Federal of Harrison 1-11-69 1-11-70 54 52000.00 Guaranty of Harrison 1-11-69 1-11-70 C1 10,000.00 Guaranty- of Harrison 1-8-69 1-8-70 514 5,000.00 Liberty of Siloam 8-22-69 8-22-70 572: 153000.00 •First of Clarksville 4-14-69 4-14-70 54 15,0.00.00 First Federal of Russelville 4-14-69 4-14-70 51 15,000.00 First Federal of Little Rock 6-4-69 12-31-69 51 152000.00 Pulaski Federal of Little Rock 8-18-69 3-31-70 5w 152000.00 Commonwealth of Little Rock 8-18-69 3-31-70 51� 15,000.00 Total Savings and Loan Associations $2705000.00 Certificates of Derosit Bank of Elkins 10-12-68 10-12-69 5 10,000.00 Total Investments at August 31, 1969 S280,000.00 n LJ • • 11 u CITY OF FAYETTEVILLE, ARKANSAS Firemen's Pension and Relief Fund Balance Sheet At August 31, 1969 WTI 115 Mw= Checking Account $ 13693.50 Savings Account 2,415.85 $ 4,109.35 Investments - At cost 2803000.00 Total Assets $2843109.35 Liabilities and Reserve Officer's Contributions - Refundable $ 15,774.40 Retirement Reserve 2682334.95 Total Liabilities and Reserve $284,109.35 Statement of Cash Receipts and Disbursements For Eight Months Ended August 31, 1969 Cash Balance, December 31, 1968 $ 139213.66 Receipts Property Taxes $ 17,171.36 State Insurance Commission 13,261.62 Interest Received 8,562.31 Officer's Contributions 21959.68 Ambulance Service Payments 583.34 Total Receipts 42,538.31 Total Available $ 55,751.97 Disbursements Pensions Paid $ 15,752.08 Purchase of Investments 35,000.00 Refunds of Officer's Contributions 890.54 Total Disbursements 51,642.62 Cash Balance, August 31, 1969 $ 4,109.35 CITY OF FAYETTEVILLE, ARKANSAS • Firemen's Pension and Relief Fund Schedule of Investments At August 31, 1969 Date Interest Acquisition Maturity Rate Cost Savings and Loan Associations Fayetteville 1-10-69 1-10-70 54 $ 10,000.00 Fayetteville 7-12-69 7-12-70 54 5,000.00 First Federal of Fayetteville 1-10-69 1-10-70 54 15,000.00 First Federal of Rogers 1-12-69 1-12-70 54 10,000.00 First Federal of Rogers 7-13-69 7-13-70 54 5,000.00 First Federal of Fort Smith 2-7-69 2-7-70 54 15,000.00 Standard Federal of Fort Smith 10-17-68 10-17-69 54 15,000.00 Superior Federal of Fort Smith 1-10-69 1-10-70 54 15,000.00 Peoples Federal of Fort Smith 1-15-69 1-15-70 54 15,000.00 United of Fort Smith 8-13-69 8-13-70 54 15,000.00 Springdale 1-10-69 1-10-70 54 15,000.00 Benton of Bentonville 1-11-69 1-11-70 54 10,000.00 Benton of Bentonville 8-10-69 8-10-70 54 52000.00 Federal of Harrison 1-11-69 1-11-70 54 10,000.00 Federal of Harrison 1-11-69 1-11-70 54 5,000.00 Guaranty of Harrison 1-11-69 1-11-70 54 10,000.00 Guaranty of Harrison 1-8-69 1-8-70 54 5,000.00 Liberty of Siloam 8-22-69 8-22-70 54 15,000.00 •First of Clarksville 4-14-69 4-14-70 54 15,000.00 First Federal of Russelville 4-14-69 4-14-70 54 15,000.00 First Federal of Little Rock 6-4-69 12-31-69 54 153000.00 Pulaski Federal of Little Rock 8-18-69 3-31-70 54 15,000.00 Commonwealth of Little Rock 8-18-69 3-31-70 54 153000.00 Total Savings and Loan Associations $270,000.00 Certificates of Denosit Bank of Elkins 10-12-68 10-12-69 5 102000.00 Total Investments at August 31, 1969 $280,000.00 • 0 • CITY OF FAYETTEVILLE August 15, 1969 Pulaski Federal Savings and Loan Association 'third and Spring Little Rock, Arkansas Gentlemen: Attached is the City of Fayetteville's Firemen's rensior and Relief Fund check in the amount of $15,00C. Please issue a savings certificate to receive interest at the rate of 5.25% per year. Fincereli- yours, Enclosure Albert J. Jones City Controller CITY OF FAYETTEVILLE 0 August 15, 1969 Commonwealth Federal Savings and Loan 4th and Spring Little Rock, Arkansas Gentlemen: Attaches is the Citi- of Fayetteville's Firemen's Pension and Relief Fund check in the amount of 515,000. Please issue a savings certificate to receive interest at the rate of 5.25% per year. Enclosure CI Sincerely yours, Albert J. Jones City Controller