HomeMy WebLinkAbout1987-02-03 MinutesMINUTES OF A MEETING OF THE FIRE PENSION BOARD
A meeting of the Fayetteville Fire Pension Relief and Fund Board was held on
Tuesday, February 3, 1987 at 4:00 p.m. in Room 326 of City Hall, 113 West
Mountain Street.
PRESENT: Treasurer Scott Linebaugh, Secretary Suzanne Kennedy, Fire
Chief Mickey Jackson, Firemen Pete Reagan and John Dill, and
Retiree Carl Springston
ABSENT: Chairman Don Grimes and Fireman Darrell Judy
CALL TO ORDER
In the absence of Chairman Grimes, the meeting was called to order by
Treasurer Scott Linebaugh.
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 Reagan, seconded by Springston and unanimous, to approve the
Pension List for the month of February.
MERRILL-LYNCH PRESENTATION
Curtis Williams presented a report on behalf of Merrill -Lynch. He reported
that both investment accounts were up at this point in time. He said the
"Income" account had gone up 31.07% since its inception on December 6, 1985,
the portfolio having a current value of $1,310,000. He noted the second
year's management fee had come out of that amount. Reporting on the
"Equity" account, Williams noted its present worth to be $552,506, up
$52,506 (10.4%) since its inception in June of 1986.
ADJOURNMENT
There being no other business, it was moved by Reagan, seconded by
Springston and unanimous to adjourn the meeting at 4:25 p.m.