HomeMy WebLinkAbout1979-02-05 MinutesMINUTES OF A FIREMEN'S PENSION AND RELIEF BOARD
February 5, 1979
A meeting of the Firemen's Pension and Relief Board was held on Monday,
February 5, 1979, at 4:30 P.M. in the City Manager's Office, City Admini-
stration Building, Fayetteville, Arkansas.
PRESENT: Chairman Don Grimes, Treasurer Pat Tobin, Secretary Angie Medlock,
Fire Chief Paul Logue and Board members Troy Schader, Larry Freedle,
Dennis Ledbetter, Roy Cate.
ABSENT: None.
Chairman Grimes called the meeting to order.
MINUTES
Troy Schader, seconded by Dennis Ledbetter, moved the minutes of the
January 2, 1979 meeting be approved as mailed. The motion passed unanimously.
PENSION LIST
Paul Logue moved that the pension list for the month of February be
approved. Roy Cate seconded the motion, which passed unanimously.
INVESTMENTS
Treasurer Pat Tobin said he had solicited bids on a $35,000 one-year
Certificate of Deposit and had received the following:
Mcllroy Bank 8 3/4%
Northwest National 9%
First Federal 62%
Bank of Elkins 8%
Fayetteville Savings
& Loan 61/2%
Troy Schader moved to confirm the treasurer's investment of $35,000
with Northwest National Bank. Larry Freedle seconded the motion which passed
unanimously.
Chairman Grimes asked the cash balance of the pension fund and
Treasurer Tobin said it is approximately $35,000. After discussion, Larry
Freedle moved that Tobin be authorized to solicit quotations on a $25,000
investment. Roy Cate seconded the motion which passed unanimously. Tobin
said he would call the Pension Board members to confirm the investment.
OTHER BUSINESS
Fire Chief Paul Logue presented the Chairman with a $15.00 cash
contribution from Mrs. Alberta Richart and $29.79 from the volunteer
firemen for their contribution to the pension fund. Chairman Grimes
gave this money to the Treasurer.
There being no further business, Paul Logue moved that the meeting be adjourned.
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