HomeMy WebLinkAbout1976-02-02 MinutesMINUTES OF A MEETING OF THE FIREMEN'S PENSION
AND RELIEF FUND BOARD
February 2, 1976
The regular monthly meeting of the Firemen's Pension and Relief Fund
Board was held February 2, 1976 at 4:30 p.m. in the Office of the
City Manager
PRESENT: Fire Chief Charles McWhorter; Treasurer Pat Tobin; Secretary
Darlene Westbrook; and Board members Howard Boudrey, Ronald
McArthur, Don Miller, and Dean Harris.
ABSENT: City Manager Don Grimes
In the absence of Chairman Grimes, the meeting was called to order by
Chief McWhorter. Minutes of the January 5, 1976 had been distributed
to members of the Board prior to the meeting. Howard Boudrey, seconded
by Don Miller, moved that the January 5 minutes be approved as submitted.
The motion carried unanimously in voice vote of the Board.
Don Miller, seconded by Ronald McArthur, moved that the February pension
list be approved. The motion carried unanimously in voice vote of the
Board.
Treasurer Pat Tobin reported that, subsequent to a telephone poll of
Board members, $190,000 in proceeds from a certificate of deposit which
matured January 17, 1976 at Mcllroy Bank, had been deposited as a
certificate of deposit with Fayetteville Savings and Loan for one year
at an interest rate of 7 3/4%. He also reported that the fund's cash
balance was $26,000 and recommended that $16,000 of the cash be with-
drawn and added to the $190,000 certificate at Fayetteville Savings
and Loan at the same rate; thus resulting in a total deposit of $206,000.
Howard Boudrey, seconded by Don Miller, moved that the investments be
approved. The motion carried unanimously in voice vote of the Board.
Chief McWhorter informed the Board that the financial statement for the
1975 fiscal year had been received. Copies of the statement were given
each member following the meeting.
There being no further business, Acting Chairman McWhorter adjourned the
meeting upon approval of motion made by Howard Boudrey.
ATTEST:
Darlene Westbrook, Secretary
APPROVED:
Charles McWhorter, Acting Chairman
MICROFILMED 1980
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