HomeMy WebLinkAbout1978-04-03 MinutesMINUTES OF A MEETING OF THE FIREMEN'S PENSION AND
RELIEF FUND BOARD
April 3, 1978
PRESENT: Pat Tobin, Treasurer; Darlene Westbrook, Secretary; Fire Chief Paul
Logue, and Board members Roy Cate (absent at roll call), Marion Doss,
and Dennis Mullens
ABSENT: Chairman Donald Grimes, Board member Troy Schader
The Firemen's Pension and Relief Fund Board met on April 3, 1978, 4:30 p.m., in
the City Clerk's Office. In the absence of the Chairman, the meeting was
called to order by Treasurer Pat Tobin.
Marion Doss, seconded by Dennis Mullens, moved the minutes of the March 6 meeting
be approved as submitted. The motion carried unanimously with Schader and Cate
absent.
Paul Logue, seconded by Mullens, moved approval of the pension list for the month
of April. The motion carried with Schader and Cate absent.
The Treasurer reported that, in regard to the investment authorized at the last
meeting, Northwest National Bank had offered 7.78% for the maturing $14,000 certifi-
cate. He said he invested the $14,000 at Northwest National but had proceeded with
the $20,000 at the Bank of Elkins at an interest rate of 7.77%.
In regard to a $17,000 investment scheduled to mature at Northwest National Bank,
the Treasurer said he would solicit proposals from the various institutions. He
felt it would be easier to secure a good investment on the $17,000 when it comes due
rather than holding it in cash. He recommended to proceed with the investment
of $17,000 on April 5 and then consider the $26,000 investment on April 18.
Roy Cate moved the Treasurer be authorized to invest the $17,000 maturing on April
5 and that he be authorized to proceed with investment of $26,000 on April 18; said
investment to be made with the institution offering the highest interest rate.
The motion was seconded by Logue and passed unanimously with Schader absent.
There being no further business the meeting was adjourned.
ATTEST:
APPROVED:
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