HomeMy WebLinkAbout1974-05-06 MinutesMINUTES OF MEETING OF FIREMEN'S PENSION
AND RELIEF FUND BOARD
May 6, 1974
4:30 P.M. CITY MANAGER'S OFFICE
Present: Chairman Donald L. Grimes; Darlene Westbrook, Secretary;
Charles McWhorter, Fire Chief; and Fire Pension Board members Larry
Poage, Bill Boudrey, Richard Baird, and N. D. McChristian.
Absent: Pat Tobin, Treasurer
Chairman Donald Grimes called the meeting to order. Minutes of the
last meeting had been previously distributed to the Board members.
Larry Poage made a motion to change his vote on the re -investment
of pension funds to read "Aye" instead of "Nay" stating that he
did not oppose the re -investment but rather the amount of time the
investment would incur. Richard Baird seconded the motion and the
motion passed unanimously.
Charles McWhorter asked that the minutes of the last meeting be
amended in regard to the amount of the investment of $20,000. He
reported that the treasurer, Pat Tobin, had contacted him after the
last meeting and informed him that another $6,000 was available for
investment. Members of the Board were contacted at that time and
they were in agreement that the money should be invested with the
$20,000 to make a total investment of $26,000. Richard Baird made
the motion that the sum quoted in the last minutes read $26,000 to
be invested at Mcllroy Bank for a period of one yearaataaniihtere`st
rate of 7.55%. Larry Poage seconded the motion. The motion passed
unanimously.
Charles McWhorter made the motion to approve the Pension Authorization
List and after a second from Bill Boudrey the motion passed unanimously.
There being no further business, Bill Boudrey made the motion to
adjourn. Charles McWhorter seconded the motion. After the motion
had passed unanimously, Chairman Grimes declared the meeting adjourned.
APPROVED:
CHAIRMAN
ATTEST:
SECRETARY