HomeMy WebLinkAbout1999-07-29 Minutes•
MINUTES OF A MEETING
OF THE
FAYETTEVILLE FIRE PENSION AND RELIEF FUND
JULY 29, 1999
A meeting of the Fayetteville Fire Pension and Relief Fund Board was held on July 29, 1999 at
11:00 a.m. in Room 326 of the City Administration Building located at 113 West Mountain
Street, Fayetteville, Arkansas.
PRESENT: Ron Wood, Pete Reagan, Darrell Judy, and Heather Woodruff.
ABSENT: Mayor Hanna and Marion Doss
APPROVAL OF THE MINUTES
Mr. Wood moved to approve the minutes of the last meeting. Mr. Judy seconded the motion.
Upon roll call the motion carried unanimously.
PENSION LIST
Mr. Wood moved to approve the corrected pension list. Mr. Judy seconded the motion. Upon
roll call the motion carried unanimously.
• INVESTMENT REPORT
Mr. Yada explained the investment report. He stated the income account was pretty static
because of interest rates moving up. They were still collecting interest. The value of the bonds
would go down as the interest went up.
Mr. Reagan asked with the interest rates going up should they move their money out of the bonds
arid into other accounts.
Mr. Yada replied they were looking at asset allocations. They may make a shift. They would be
able to make a recommendation to the board in the next couple of months.
ANTI-TRUST
Mr. Reagan stated there was a letter from Ms. Cramer in the Accounting addressing NASDAQ
litigation.
Mr. Yada explained there was a lawsuit filed regarding the trading NASDAQ. Prepnnting forms
should have been sent out.
The Board agreed to submit the preprinted forms as proof of claims for the City's Fire Pension
fund.
• The meeting adjourned at 11:30 a.m.