HomeMy WebLinkAbout1975-11-03 Minutes•
MINUTES OF A MEETING OF THE FIREMEN'S PENSION AND RELIEF BOARD
November 3, 1975
The regular monthly meeting of the Firemen's Pension and Relief Fund
Board was held November 3, 1975 at 4:30 p.m. in the Office of the City
Manager.
PRESENT: Chairman Donald L. Grimes; Treasurer Pat Tobin; Secretary
Darlene Westbrook; and Board members Charles McWhorter, Dean
Harris, Howard Boudrey, Ronald McArthur.
ABSENT: Don Miller
The meeting was called to order by Chairman Grimes. Minutes of the
October 6 meeting had been mailed to members of the Board. Chief
McWhorter, seconded by Ronald McArthur, moved that the minutes be
approved as submitted. The motion carried unanimously in voice vote
of the Board.
Howard Boudrey, seconded by Dean Harris, moved that the November pension
list be approved for payment. In voice vote of the Board the motion
carried unanimously.
The Treasurer reported a total investment of $68,000 had been made at
First Federal Savings and Loan for a period of one year at an interest
rate of 8.12 percent. Mr. Tobin reported that the amount of the invest-
ment was derived by combining $25,000 cash with a $15,000 Certificate of
Deposit and a $28,000 Certificate of Deposit already held by that institu-
tion. He reported that the $28,000 was not due to mature and that early
withdrawal of the certificate to combine it with the new investment
caused the fund to sustain an early withdrawal penalty of $23.32. He
requested the Board's authorization to remit the amount of the penalty
to First Federal. Howard Boudrey so moved and Dean Harris seconded the
motion. The motion carried unanimously in voice vote of the Board.
There being no further business, Chief McWhorter, seconded by Ronald
McArthur, moved that the meeting be adjourned. The motion met with
the Board's approval and Chairman Grimes adjourned the meeting.
ATTEST:
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Darlene Westbrook, Secretary
APPROVED:
onald L. Grimes, Chairman