HomeMy WebLinkAbout1980-09-08 MinutesMINUTES OF A FIREMEN'S PENSION AND RELIEF BOARD MEETING
A meeting of the Firemen's Pension and Relief Board was held on Monday, September 8,
1980, at 4:30 P.M. in the City Manager'.s Office;''City Administration Building,
Fayetteville, Arkansas.
PRESENT: Treasurer Scott Linebaugh, Secretary Bonnie Goering; Members Paul Logue,
Troy Osburn, Ralph Tate, Gene Warford, Larry Freedle; City Manager Grimes
ABSENT: None
MINUTES
The minutes of the August 4, 1980 meeting were approved.
PENSION LIST
There were no additions to the pension list for the month of September. Troy
Osburn, seconded by Ralph Tate, moved to approve the pension list for the month of
September and the motion passed unanimously.
INVESTMENTS
Treasurer Linebaugh reported that CD #10340 for $152,000 came due 8-11-80
and was combined with millage tax of $60,395 and reinvested into two CD's, $100,000
and $112,395,at 9.65 percent for 6 months.
He said that investment #10689. for $100,000 was placed today into a 6 -month
CD at 10.80 percent.at Northwest National.
It was noted there would be two CD's coming due, one on 10-4-80 for $188,000,
and one on 10-8-80 for $30,000. After a short discussion Gene Warford, secdnded by
Ralph Tate, moved to invest $100,000 of the $188,000 when it becomes due in a 6 -month
CD and hold the $88,000 to combine .with the.$30,000 (due Oct. 8) to invest in another
6 -month CD. The.motion passed unanimously.
ADJOURNMENT
There being no further business the meeting adjourned at 4:45 P.M.
ATTEST: APPROVED:
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Secretary
Donald L. Grimes, Chairman