HomeMy WebLinkAbout1980-10-06 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 6,
1980, at 4:30 P.M. in the City Manager's Office, City Administration Building,
Fayetteville, Arkansas.
PRESENT: Treasurer Scott Linebaugh; Secretary Vivian Koettel; Members ,Paul
Logue, Troy Osborn, Ralph Tate, Gene Warford, Larry Freedle;
City Manager Grimes
ABSENT: None
MINUTES
The minutes of the September 8, 1980 meeting were approved as submitted.
PENSION LIST
There were no additions to the pension list for the month of October.
Larry Freedle, seconded by Gene Warford, moved to approve the pension list
for the month of October and the motion passed unanimously.
INVESTMENTS
Treasurer Linebaugh reported that one CD for $188,000 had been turned over
today at Heritage Federal Savings and Loan at 12.75% interest. A CD for
$30,000 would come due on October 8, 1980. It was agreed at the last meeting
to place the $188,000 into a CD for 6 months and to place the $30,000 due on
October 8 with money from savings into another $100,000 CD for 6 months.
Treasurer Linebaugh stated that there were no other investments due in
October and that the next one would be due on November 23, 1980 for $100,000.
OTHER BUSINESS
A letter to Governor Bill Clinton from the members of the fire department
and members of the Firemen's Pension and Relief Board was given to City
Manager Grimes. The letter concerned the proposed legislation on local
government pension systems. There was some discussion on the advantages
and disadvantages of the proposed pension system.
ADJOURNMENT
There being no further business the meeting adjourned at 4:55 P.M.
ATTEST: APPROVED:
Vivian Koettel, Secretary
D6nald L. Grimesairman