HomeMy WebLinkAbout1978-10-02 MinutesMINUTES OF A MEETING OF THE FIREMEN'S PENSION AND RELIEF
FUND BOARD
October 2, 1978
PRESENT: Chairman Don Grimes, Treasurer Pat Tobin, Secretary Angie Medlock,
Fire Chief Paul Logue and Board members Troy Schader, Larry Freedle,
Dennis Ledbetter, and Roy Cate.
ABSENT: None.
The Firemen's Pension and Relief Fund Board met October 2, 1978, at 3:00 P.M.
in the City Manager's. Office. The meeting was called to order by Chairman
Grimes.
Roy Cate moved to approve the minutes of the September 5, 1978 meeting with
correction of one typing error. Larry Freedle seconded the motion, which
passed unanimously.
Troy Schader, seconded by Dennis Ledbetter, moved to approve the pension
list for the month of October.
Chairman Grimes asked if there was any reaction from other firemen concerning
the actuarial study presented at the last meeting. Fire Chief Paul Logue
said the firemen have been talking about the study but there was no adverse
reaction.
Treasurer Tobin gave quotes on interest rates* received for investment of
$78,000. Troy Schader moved to invest the $78,000 either with First
Federal Savings and Loan or Superior Federal, depending on who submits
the higher quote. Dennis Ledbetter seconded the motion, which was approved
unanimously.
There being no further business, the Chairman declared the meeting adjourned.
* Northwest Savings 8.5%
Bank of Elkins 8%
Northwest National 7:26%
Mcllroy Bank 8%
Fayetteville
Savings & Loan 6.5%
Superior Federal 8.526%
First Federal 8.75%
APPROVED:
onald L. Grimes, Chairman
ATTEST: MICROFILMED.
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Angie edlock, Secretary