HomeMy WebLinkAbout2001-09-27 - Agendas - FinalAGENDA
FIRE PENSION AND RELIEF FUND BOARD
SEPTEMBER 27, 2001
A meeting of the Fayetteville Fire Pension and Relief Board will be held on September 27, 2001 at
11:00 a.m in Room 326 of the City Administration Building located at 113 West Mountain Street,
Fayetteville, Arkansas.
1. Approval of the Minutes
2. Approval of the Pension List
3. Investment Report
4. Letter of Authorization
5. Benefit Increase for Volunteers
MINUTES OF A MEETING
OF THE
FAYETTEVILLE FIRE PENSION AND RELIEF FUND BOARD
AUGUST 30, 2001
A meeting of the Fayetteville Fire Pension and Relief Fund Board was held on Thursday, August 30,
2001 at 11:00 a m in Room 326 of the City Administration Building located at 113 West Mountain
Street, Fayetteville, Arkansas.
PRESENT: Mayor Goody, Marion Doss, Ronnie Wood, Robert Johnson, Kit Williams, and Heather
Woodruff.
MINUTES
Mr. Doss moved to approve the minutes. Mr. Wood Seconded the motion. The motion carried
unanimously.
PENSION LIST
Mr. Doss moved to approve the Pension List. Mr. Wood seconded the motion. The motion carried
unanimously.
INVESTMENT REPORT
No investments report.
OTHER BUSINESS
Mr. Williams stated he had agreed with Kathy Skelton's attorney that they would argue the case on
the law. The facts being, Kathy and Roy were married during part of the time that he was a fireman.
That they got divorced on or about September 9, 1998. They entered into a qualified domestic
relations order. Roy did not remarry Kathy prior to his death. He was going to say that he was
survived by two minor children, Kelly and Kimberly. He was entitled to receive benefits from the
Firemen's Pension Fund during his life prior to his death. His opinion is that Kathy was not his
spouse. That she was an ex-spouse and therefore she should not receive the pension benefit. That
it should go to the children.
Mr. Doss stated it was his understanding that they would receive the benefit until age twenty-three
if they stayed in college. They had to furnish proof of that they were in college. He did not believe
that they could pay her the money even if they wanted to.
Mr. Williams stated the fund was governed by the State statute and it stated "spouse." He did not
believe that meant someone that he had divorced.
Mr. Doss stated he would like to discuss a benefit increase for volunteer firemen at their next
meeting.
Meeting adjourned at 11:10 a.m.
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Merrill Lynch, Pierce, Fenner & Smith Inc.
9601 S. Meridian
Englewood CO 80112-5905
Merrill Lynch
September 14, 2001
FAYETTEVILLE FIRE PENSION AND
RELIEF FUND U/A DTD 6/18/86
INCOME ACCOUNT
113 W MOUNTAIN ST
FAYETTEVILLE AR 72701
Dear Client
Ref: Account 563-96345
RECEIVE
SEP 19 2001
ACCTG.DEP ;
We would like to make you aware of an optional feature of your account worth considering. A
Standing Letter of Authorization for wire transfers allows you to request the wiring of funds to
the same bank and account destination with just a phone call to your Financial Advisor. You
will no longer have to provide Merrill Lynch with a letter every time you need to wire funds to an
enrolled receiving account.
Enrollment -;s easy, simply confirm the information below; complete those items which. -are blank,
have the appropriate persons sign, and return to Merrill Lynch in the enclosed stamped
envelope.
Contact your Financial Advisor or Service Associate if you have any questions.
You authorize Merrill Lynch, upon further instruction from you, to wire transfer to the following
Federal Reserve member bank:
BANK OF ARKANSAS
The ABA number for this bank is 082901392 The funds are to be credited to:
FAYETTEVILLE FIRE PENSION AND
RELIEF FUND U/A DTD 6/18/86
INCOME ACCOUNT
The bank account number is 1063401
RECEIVED
SEP 2 0 2001
CITY OF
• CITY CLERK' OFFICE
09-20-01 A10:22 IN
Please complete the following section:
What is' the maximum amount you would like this standing letter of authorization?
s
If you would like an expiration date for this Standing Letter of Authorization, please indicate the
date.
Please print the names of all individuals that may request wire transfers based upon this
Standing Letter of Authorization.
Sincerely,
yamat
JAMES M. THORNTON
DIRECTOR - CLIENT ACCOUNT SERVICES
I acknowledge that I have received and read a copy of the Standing Letter of
Authorization Agreement, which is incorporated by references In this acknowledgement as if
included here in its entirety.
If I am signing as corporate officer, as a partner, or as .a trustee or other fiduciary for
this account, I represent and warrant to you, as applicable: (1) that I am duly authorized to
execute this Agreement on behalf of the account; (2) that the governing documents of the
corporation, partnership, trust or other fiduciary arrangement permit the transfers that are or
will be instructed under this Agreement and/or that all necessary action has been taken under
such governing documents to authorize the execution of this Agreement and the transfers that
are or will be instructed under this agreement by the person who are herewith identified to you
as authorized to give instructions on behalf of the account; (3) If a revocable trust, that the
transfers that are or will be instructed under this Agreement represent valid partial or total
revocations by me; and you may conclusively rely on these representations.
By signing below, I acknowledge the accuracy of the information above. I agree to the
terms and conditions of this Agreement, including the provisions regarding indemnification, all
of which I understand and agree may be subject to change. This Standing Letter of
r„-•
MerrillLynch
Authorization will remain in force until the expiration date indicated above or until I notify you
requesting its cancellation.
Signature
Signature
Title
Title
Date
Date
Please add as many signature lines as needed for alt participants or other authorized persons
to sign. For Corporations, the Principal Executive Officer and Secretary must .sign. For
partnerships all general partners must sign. For limited liability companies, all managers must
sign if manager run, .and all members must sign if member. run. For trusts orother fiduciary,
arrangements, all trustees or other fiduciaries must sign.
2564487824
•
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STANDING LETTER OF AUTHORIZATION AGREEMENT FOR FEDERAL FUNDS
This Agreement contains the terms and
*Bions goveming the Merrill Lynch
ding Letter of Authorization program.
As used in this Agreement, 'I', 'me', and
'my' mean each person who signs the
Standing Letter of Authorization
confirmation letter as an accountholder or
as an authorized person on behalf of an
entity's account. 'You' and °your" mean
Merrill Lynch, Pierce, Fenner & Smith
Incorporated.
Representations, Additional Terms, and
Amendments
I acknowledge that I have read this
Agreement and the Standing Letter of
Authorization Program Description and
- agree to its -terms and conditions. -f also—
acknowledge
acknowledge that this Agreement must be
signed by all persons who signed the
agreements or documents required for the
establishment of my/our Merrill Lynch
account and agree that any additional
terms and conditions contained in those
documents shall apply to my/our
participation in the Standing Letter of
Authorization program as if they were fully
set out in this Agreement.
I agree that you shall have the right to
end this agreement by modifying or
finding any of its existing provisions or
adding any new provision. Any such
amendment shall be effective as of a date
to be established by you, subject to
applicable law.
Code 0408 (Rev. 3100)
•
Authorization
I authorize you to effect transfers of funds
and/or securities from my/our Merrill Lynch
account in the manner specified in the
Standing Letter of Authorization
confirmation letter to which this Agreement
relates, either 1) on a recurring basis in
such amount or quantity and upon such
schedule as I/we have instructed in such
letter, or 2) upon my or another authorized
person's telephone instruction, subject to
any limitations as I/we may have specified
in such letter. In the event that any
erroneous transfers are made, I authorize
you to initiate correcting entries in my/our
account and to act on my/our behalf to
attempt to correct such errors to such
extent-as-rnay -be- possible,- provided -that
any such correction is made in accordance
with applicable laws, rules or regulations. I
authorize any financial institution holding
an account of mine/ours to which I have
authorized transfers to be made to accept
correcting instructions from you without
responsibility for the correctness thereof.
Indemnification and Limitation of
Liability
I agree to indemnify and hold you harmless
from any loss, liability, cost, or expense for
acting upon my/our instructions, whether
written, verbal, or telephonic, except as
limited by applicable law.
In no event shall you be liable to me/us for
any damages, whether consequential,
direct, indirect or special, arising out of any
failure to execute any transfer in a timely
manner and in accordance with or another
authorized person's instructions except
direct damages resulting from your
negligence or bad faith. You shall not be
liable for any errors, delays or negligence
of any funds transfer or communications
systems, or any intermediary, agent bank
or subagent bank that may be used in
making transfers for my/our account, each
of which shall be deemed to be my/our
agent.
Termination of the Standing Letter of
Authorization
This authorization is to remain in full force
and effect until you receive notification -from -
me or any authorized person of its
termination. Any termination will become
effective as soon as you have had a
reasonable amount of time to act on it.
GOVERNING LAW
I UNDERSTAND AND AGREE THAT THE
TERMS AND CONDITIONS OF THIS
AGREEMENT WILL BE GOVERNED BY
NEW YORK LAW.
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