HomeMy WebLinkAbout1981-01-05 MinutesMINUTES OF A FIREMEN'S PENSION AND RELIEF BOARD MEETING
A meeting of the Firemen's Pension and Relief Board was held on Monday,
January 5, 1981, 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 Osburn, Gene Warford, Larry Freedle; City
Manager Don Grimes
ABSENT: Ralph Tate
MINUTES
The minutes of the December 1, 1980 meeting were approved as submitted.
PENSION LIST
There were no additions to the pension list for the month of January.
Larry Freedle, seconded by Gene Warford, moved to approve the pension list
for the month of January and the motion passed unanimously.
INVESTMENTS
Treasurer Linebaugh reported that two certificates were coming due. One on
the 17th of January and the other on the 25th. The one due on the 17th is for
$164,000 and the one on the 25th is for $112,000. He said that he thought
there would be enough savings money to put with the $164,000 to make it $200,000.
Mr. Linebaugh told the Board that 30 day certificates were getting 16% interest,
60 day -15 1/2%, 90 day -15 3/8%, 180 day -14 1/4%, and 360 day -13%. He said that
the interest rates were expected to go down and then back up when Reagan takes
office.
Treasurer Linehaugh advised the Board to not go with anything over 90 days
since the shorter terms were paying higher rates.
Larry Freedle, seconded by Gene Warford, moved that the two certificates
be reinvested for 90 days at the highest rate available, The motion passed
unanimously.
OTHER BUSINESS
City Manager Grimes told the Board that the Pension Fund had received
a Christmas Card and a check for $50.00 from Mrs. Bob Stout. The check was
given to Treasurer Linebaugh to deposit in the pension fund, and the card
was given to Fire Chief Logue so the members could circulate it among themselves.
ADJOURNMENT
There being no further discussion, the meeting adjourned at 4:45 p.m.
ATTEST: APPROVED:
Vivian
`�
Vivian Koettel, Secre
ona d L. Grimes, C airman