HomeMy WebLinkAbout1987-01-05 MinutesMINUTES OF A MEETING OF THE FIRE PENSION BOARD
A meeting of the Fayetteville Fire Pension and Relief Fund Board of
Trustees was held on Monday, January 5, 1987 at 4:00 p.m. in Room 313
of City Hall, 113 W. Mountain Street, Fayetteville, Arkansas.
PRESENT: Treasurer Scott Linebaugh, Secretary Suzanne Kennedy,
Fire Chief Mickey Jackson, Firemen Darrell Judy, John
Dill and Pete Reagan; Retiree Carl Springston
ABSENT: Chairman Don Grimes
CALL TO ORDER
The meeting was called to order by Treasurer Scott Linebaugh, with
Chairman Don Grimes being absent.
MINUTES
It was moved by Reagan, seconded by Dill and unanimous, to approve the
minutes of the last meeting.
PENSION LIST
It was moved by Dill, seconded by Reagan, and unanimous, to approve the
Pension List for January.
OLD BUSINESS
Linebaugh reported that funds in the amount of $312,000 from an
investment which matured on December 19 were combined with savings in
the amount of $42,820.88, and a total of $354,814.88 was invested for a
term of six months. He reported only one bid had been received for a
Certificate of Deposit, from First National Bank, earning 5.574%
interest, so the bid was awarded to Mcllroy Bank, for a 6 month
Treasury Bill earning 5.789%. Linebaugh reported the next investment,
in the amount of approximately $260,000, would mature on February 15.
It was moved by Jackson, seconded by Reagan, and unanimous, to approve
the investment which was made per the Board's instructions.
Fire Pension Minutes
January 5, 1987
Page 2
NEW BUSINESS
Reagan reported Merrill -Lynch would give their next Quarterly report at
the February meeting. Reagan reported the Equity Account to be down by
$12,000, and the Income Account's net worth to be $1,206,498.
ADJOURNMENT
There being no further business, the meeting adjourned at about 4:15
p.m.
CHAIRMAN