HomeMy WebLinkAbout1987-07-16 Minutes•
MINUTES OF A POLICE PENSION BOARD MEETING
The minutes of a meeting of
Relief Fund Board was held on
Room 326 of City Hall.
PRESENT: Roberts, Hoyt,
McWethy
ABSENT:
CALL TO ORDER
the Fayetteville Police Pension &
Thursday, July 16U1at 4:00 p.m. in
and Linebaugh; City Clerk Suzanne
Mashburn, Mitchell and Spencer
The meeting was called to order
with three Board members present.
MINUTES
It was
approve
by Treasurer
Scott Linebaugh,
moved by Hoyt, seconded by Roberts, and unanimous, to
the minutes of the April 30th meeting.
OLD BUSINESS
Linebaugh distributed Bid Sheets
awarded. Linebaugh recommended
because only three members of the
NEW BUSINESS
showing bids which have been
no action be taken at this time
Board were present.
MERRILL-LYNCH REPORT
Richard Yada reported on the $500,000 in funds invested with
Merrill -Lynch. He reported the value of the portfolio on June 30
was $531,308, about what it was last quarter, with the value on
July 14 showing $542,000. He said the market value in September,
1986 was $445,000. He reported the total return on the
investment was about 6.3%.
Bill Conrad reported on the $500,000 in funds invested with A. G.
Edwards. He said the month end value was $517,000. He said the
investment was up 17.09% year to date. He reported the value as
of July 15 was $539,160. Conrad reported the make up of the
portfolio is $378,800 in equity and $160,300 in cash.
ADJOURNMENT
The meeting was adjourned at 4:30 p.m.