HomeMy WebLinkAbout1985-09-09 MinutesMINUTES OF A FIRE PENSION RELIEF BOARD MEETING
A meeting of the Fayetteville Fire Pension Relief Board was held on
Monday, September 9, 1985, at 2:30 P.M., in Room 326 of City Hall,
113 W. Mountain Street, Fayetteville, Arkansas.
PRESENT: Chairman Don Grimes, Treasurer Scott Linebaugh, Secretary
Suzanne Kennedy; Fire Pension Members Dill, Judy,Reagan
and Springston; Acting Chief Boudrey
Presentations were made to the Pension Board by the firms of A. G. Edwards
and Sons, Merrill -Lynch, and Prudential-Bache, regarding investment
services they would offer to the Board. Each of the firms distributed
proposals explaining their services in detail.
MINUTES
The Minutes of the August meeting were approved as circulated.
PENSION LIST
It was moved by Reagan, seconded by Judy, and passed unanimously,
to approve the Pension List for September. It was noted that Fire
Chief Paul Logue and Troy Burl Schader, who both retired in September,
had been added to the Pension List.
OLD BUSINESS
Linebaugh reported on one investment, for $589,000, for 91 days, at
a rate of 7.50%. Linebaugh reported there was a tie between Mcllroy
and First Federal and that he awarded the investment to Mcllroy because
of the amount of investments already held at First Federal and because
he felt it would be wise to diversify. Linebaugh noted this investment
included $136,000 of new money.
It was moved by Dill, seconded by Springston, and passed unanimously
to approve the investment as per the instructions of the Board.
NEW BUSINESS
It was reported that Troy Burl Schader had received a certificate
for twenty years service.
Fire Pension Relief Board
September 9, 1985
Page 2
Fire Fighter Reagan suggested the issue of whether to retain an investment
firm should be tabled until the next Board meeting. It was moved
by Reagan, seconded by Boudrey, and passed unanimously, to table the
issue.
It was moved by Dill, seconded by Reagan, and passed unanimously to
approve the retirement applications of Paul Logue and Troy Schader.
tin
„fl41 / II l/