HomeMy WebLinkAbout1970-04-06 MinutesMINUTES OF THE REGULAR MEETING
• BOARD OF TRUSTEES
FIREMEN'S PENSION AND RELIEF FUND
April 6, 1970
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, April 6, 1970, at 4:30 p.m.
Present: Chairman Wesley M. Howe, Treasurer Patrick J. Tobin, Secretary Marilyn
Moore, Fire Chief Burl Skelton and Board Members: Joe Fraley, Paul Logue, Carl
Springston, and Paul Blackard.
Absent: None.
Mr. Skelton moved to approve the minutes of the last regular meeting on Monday,
March 2, 1970, 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" Skelton, Fraley, Logue, Springston, and Blackard.
"Nay" none. There being five "Ayes" and no "Nays", the Chairman declared the motion
passed.
The Secretary presented the Authorization Form to pay the March pensions. Mr. Spring-
ston moved that the disbursements be allowed. The motion was seconded by Mr. Logue,
and upon roll call the following vote was recorded: "Aye" Skelton, Fraley, Logue,
Springston, and Blackard.
•
"Nay" none. There being five "Ayes" and no "Nays", the Chairman declared the motion
passed.
The Treasurer reported that the $200,000.00 investment at 7 1/2 percent interest
authorized at the March 2, 1970, meeting was not secured because the First National
Bank and the McIlroy Bank would not take the money for a period of four and five
years. It was also reported that the McIlroy Bank did not want the $100,000.00
investment at 7 1/2 percent interest under any circumstances.
Mr. Blackard moved that the Treasurer be, and he is hereby, authorized to invest
$100,000.00 at 7 1/2 percent interest for a period of one year at the First National
Bank of Fayetteville and to invest $100,000.00 at 7 1/2 percent interest for a period
of one year at First Federal Savings and Loan Association of Fayetteville; also,
the Treasurer is authorized to invest the second $100,000.00 at 7 1/2 percent interest
at the First National Bank of Fayetteville if First Federal Savings and Loan Association
of Fayetteville does not want the investment.
The motion was seconded by Mr. Springston, and upon roll call the following vote was
recorded: "Aye" Skelton, Fraley, Logue, Springston, and Blackard.
"Nay" none. There being five "Ayes" and no "Nays", the Chairman declared the motion
passed.
There being no further business, Mr. Fraley moved to adjourn. The motion was seconded
by Mr. Blackard and passed unanimously, whereupon the Chairman declared the meeting
adjourned.
• APPROVED:WESLEY M OWE, CHAIRMAN
ATTEST:
MA I YN M00 , SECRETARY