HomeMy WebLinkAbout1999-08-19 MinutesMINUTES OF A MEETING
OF THE
FAYETTEVILLE POLICE PENSION AND RELIEF FUND
AUGUST 19, 1999
A special meeting of the Fayetteville Police Pension and Relief Fund was held on August 19,
1999 at 1:00 p.m. in Room 326 of the City Administration Building located at 113 West
Mountain Street, Fayetteville, Arkansas.
PRESENT: Mayor Fred Hanna, Eldon Roberts, Dr. Mashburn, Hollis Spencer, Randy Bradley,
and City Clerk Heather Woodruff.
ABSENT: Jerry Friend.
NASDAQ
Mr. Roberts stated he had spoken with Ms. Longer regarding the litigation with NASDAQ. She
had agreed to handle all the information for the lawsuit.
Mr. Roberts moved to forward all correspondence regarding the lawsuit to Longer Investments.
• Mr. Spencer seconded the motion. Upon roll call the motion carried unanimously.
BENEFIT INCREASE
Mr. Roberts presented a fax from the Review Board okaying a benefit increase in the amount not
to exceed 100% of current salary. He suggested making the benefit increase retroactive to
August. He suggested the benefit increase for August be added to the retirees' September check.
Mr. Spencer moved to increase benefits to 90% of salary. The benefit would be retroactive to
August. August's benefit increase would be added to the retirees' September check. Mr.
Roberts seconded the motion. The motion carried unanimously.
Dr. Mashburn noted the good job the board and Ms. Longer had done with their investing.
Mr. Bradley stated it was his goal to get out of the stock market eventually.
Meeting adjourned at 1:15 p.m.
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