HomeMy WebLinkAbout1978-05-01 MinutesMINUTES OF A MEETING OF THE FIREMEN'S PENSION AND
RELIEF FUND BOARD
May 1, 1978
PRESENT: Pat Tobin, Treasurer; Darlene Westbrook, Secretary; Fire Chief Paul
Logue, and Board members Marion Doss, Dennis Mullens, and Roy Cate.
ABSENT: Chairman Don Grimes, Board member Troy Schader
The Firemen's Pension and Relief Fund Board met on May 1, 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. Cate, moved minutes of the
as submitted. The motion carried unanimously.
Marion Doss, seconded by Mullens, moved the pension
be approved. The motion carried unanimously.
Tobin reported the investment of $26,000 at Mcllroy Bank at an interest rate
of 7.85% for a period of one year. Healso reported the investment of $17,000
at Northwest National Bank for a period of one year at an interest rate of
7.778 percent. 'He recommended the investment of $29,000 with Mcilroy Bank
if the institution is willing to pay the current 7.85% interest rate. Chief
Logue, seconded by Mullens, moved to renew the $29,000 investment with Northwest
National Bank if that institution was willing -to pay 7.85%; if not, that the in-
vestment be made with Mcllroy Bank. The motion carried unanimously. Tobin ad-
vised the Board that the interest rate for the money should be around 7.85 per-
cent.
April 3 meeting be approved
list for the month of May
There being no further business, the meeting was adjourned.
Pat Tobin, haFrman Pro -Tem
141
Si 141) L��
arlene Westbrook, City Clerk
MiCROFI� MEED
DATE
REEL
1980