HomeMy WebLinkAbout1973-07-02 Minutes•
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Present:
and Fire
N. D. Mc
Absent:
MINUTES OF FETING OF FIREMEN'S PENSION
AND RELIEF FUND BOARD
JULY 2, 1973
4:30 P.M. CITY MANAGER'S OFFICE
Chairman Donald Grimes, Treasurer
Pension Board members Larry Poage,
Christian.
Fire Chief Charles McWhorter.
Pat Tobin, Secretary Helen Young,
Bill Boudrey, Richard Baird, and
Minutes of the June 4, 1973 meeting had been previously distributed to the
board members. Richard Baird moved the minutes of the June 4, 1973 meeting
be approved. Motion was seconded by Bill Boudrey. The motion passed
unanimously.
Treasurer Pat Tobin presented Pension Authorization Form for the month of
July with no changes. Bill Boudrey moved the Pension Authorization Form for
the month of July be approved. Richard Baird seconded the motion. The motion
passed unanimously.
Treasurer Pat Tobin recommended that the $105,000 certificate of deposit which
matured at First Federal Savings and Loan on June 29, 1973 be reinvested for
one year at 7-1/4 percent. Richard Baird moved that the investment be made as
recommended by Mr. Tobin. Motion was seconded by Larry Poage. The motion
passed unanimously.
Treasurer Pat Tobin reported that a $100,000 certificate of deposit will
mature on July 20, 1973 at First Federal Savings and Loan. This $100,000 is
invested at 6 percent at this time. Mr. Tobin recommended that the $100,000
be combined with a $12,000 certificate of deposit which will mature at First
Federal Savings and Loan on July 26, 1973 and $10,000 from the cash balance
of the Fund to be invested at First Federal Savings and Loan for one year if
the rate (7-1/4 percent) remains stable. Mr. Tobin reported that the cash
balance now is approximately $11,000 and the turnback from the County is due
soon and that will amount to about $8,000. Richard Baird moved that Mr. Tobin
be authorized to invest monies as recommended above if the rates remain
relatively stable. Bill Boudrey seconded the motion. The motion passed
unanimously.
There being no further business, Bill Boudrey moved the meeting be adjourned.
Larry Poage seconded the motion. The motion passed unanimously whereupon
Chairman Grimes declared the meeting adjourned.
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