HomeMy WebLinkAbout1981-05-04 MinutesMINUTES OF A FIREMEN'S PENSION AND RELIEF BOARD MEETING
A meeting of the Firemen's Pension and Relief Board was held on Monday,
May 4, 1981, at 4:30 p.m. in the City Manager's Office, City Administration
Building, Fayetteville, Arkansas.
PRESENT: Treasurer Scott Linebaugh, Members Paul Logue, Troy Osburn, Gene
Warford, Ralph Tate, Larry Freedle; City Manager Grimes, and Secretary Vivian
Koettel.
ABSENT: None
MINUTES
The minutes of the April 6, 1981 meeting were approved as submitted.
PENSION LIST
There were no additions to the pension list for the month of May, and
a motion was made and seconded to approve the pension list of May. The motion
passed unanimously.
OLD INVESTMENTS
Treasurer Linebaugh reported that certificate #17359 for $100,000
was placed in Heritage Federal for 180 days at 14.75%, that certificate
#2308 for $211,000 was placed into Mcllroy for 91 days at 15.625%, and that
certificate #2324 for $112,000 had $33,000 from savings added to it, for a
total of $145,000. This was turned into a 91 day certificate at 15.76%.
NEW INVESTMENTS
Mr. Linebaugh stated that certificate #10766 was due May 10 for
$212,395 and is currently earning 16.16% interest. He stated that he
would recommend a six month certificate again and it should bring interest
of approximately 16%, or somewhere in that range.
Motion was made and seconded to invest this in a six month certificate.
The motion passed unanimously.
OTHER BUSINESS
There was some discussion concerning some bills passed by Congress.
The Board agreed to ask City Attorney, Jim McCord, to study these bills.
ADJOURNMENT
There being no further discussion, the meeting adjourned at 4:40 p.m.
ATTEST: APPROVED: