HomeMy WebLinkAbout1980-04-07 MinutesA meeting
1980 at 4:
Fayettevil
PRESENT:
MINUTES OF A FIREMEN'S PENSION AND RELIEF BOARD MEETING
of the Firemen's Pension and Relief Board was held on Monday, April 7,
30 P.M. in the City Manager's Office, City Administration Building,
le, Arkansas.
Chairman Don Grimes, Teasurer.:Scott Linebaugh, Secretary Angie Medlock,
Members Paul Logue,. Gene Warford, Dennis Ledbetter, Troy Osburn, and
Larry Freedle.
ABSENT: None.
CALL TO ORDER
The chairman called the meeting to order at 4:30 P'LM.
MINUTES
The minutes of the March 3, 1980 meeting were approved as submitted.
PENSION LIST
The chairman noted that there were no changes or additions to the pension
list for the month of April. Larry Freedle moved to approve the pension list
as submitted. Gene Warford seconded the motion, which passed unanimously.
INVESTMENTS
Treasurer Linebaugh stated that there is currently $30,000 in the savings
account and recommended they put this money into a 90 -day certificate of deposit.
He said they could get approximately 8% interest on this money, and the certificate
would mature with other certificates and could be combined in a larger investment
at maturity.
Fire Chief Paul Logue commented that there is $188,000 coming due in October.
Linebaugh said he felt he could come up with enough money to have a $100,000 deposit
in July or August without this $30,000. In response to the Board, Linebaugh said
he felt they could get approximately 14% on the $30,000 if invested for 6 months.
Gene Warford moved to invest the $30,000 in a 6 -month money market certificate.
Dennis Ledbetter seconded the motion, which passed unanimously.
OTHER BUSINESS
Treasurer Linebaugh distributed copies of an article on police and fire
pension funds in the state, which had been included in the last City and Town
Magazine.
ADJOURNMENT
There being no further business, the meeting adjourned at 4:50 P.M.
APPROVED:
MICROFILMEb
DATE JUL 7 1980
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