HomeMy WebLinkAbout1979-10-01 MinutesMINUTES OF A FIREMEN'S PENSION AND
RELIEF BOARD MEETING
A meeting of the Firemen's Pension and Relief Board was held on
Monday, October 1, 1979, at 4:30 in the City Controller's Office,
Fayetteville, Arkansas.
PRESENT: Chairman Don Grimes, Secretary Angie Medlock, Judy McCratic;
Members Paul Logue, Dennis Ledbetter, Eugene Warford,
Larry Freedle.
MINUTES
Dennis Ledbetter asked that the minutes of the previous meeting
be amended to reflect that he had been present, rather than Roy Cate.
With this correction, the minutes were approved as submitted.
PENSION LIST
There were no additions or corrections to the pension list for
the month of October. Dennis Ledbetter moved to approve the list
as submitted. Gene Warford seconded the motion, which passed unanimously.
INVESTMENTS
Chairman Grimes noted the following investments which would come due
during October: October 1 -. $78,000; October 4 - $28,000; October 5 -
$65,000 and October 5 - $17,000. Chairman Grimes reminded the acting
treasurer that the $78,000 which matured on October 1 should be invested
in a passbook savings account until October 5 when it could be combined
with the other investments maturing. Grimes pointed out that this would
be a total of $188,000 to be invested. In response to Mr. Grimes, Judy
McCratic stated that the checking account does not have an additional
$12,000 to add to this deposit.
Dennis Ledbetter moved to instruct the acting treasurer to solicit
bids ori the $188,000 deposit for a one-year certificate, and to confirm
the investment with the members of the Board. Paul Logue seconded the
motion which passed unanimously.
Paul Logue noted that last month's investment of $100,000 had been
invested for one year at an interest rate of 10.65%.
In response to the chairman, Judy McCratic said they would open a
passbook savings account for the $78,000 and keep the account open with
the minimum deposit for future short-term deposits.
There being no further business, the meeting adjourned at 4:45 P.M.
ATTEST:
wiLea
APPROVED:
Chairman
MICROFI�L� � 1990
----
REELJ�'