HomeMy WebLinkAbout1982-02-01 MinutesMINUTES OF A FIREMEN'S PENSION AND RELIEF BOARD MEETING
A meeting of the Firemen's Pension and Relief Board was held
February 1, 1982, at 4:30 p.m. in the City Manager's Office, City
Building, Fayetteville, Arkansas 72701.
PRESENT: Chief Paul Logue, Larry Freedle, John Dill, Ralph Tate,
Treasurer Scott Linebaugh, and Secretary Sherry Rowe.
ABSENT: City Manager Grimes
CALL TO ORDER
Chief Paul Logue called the meeting to order.
MINUTES
The minutes of the January 4, 1982, meeting were approved as submitted.
PENSION LIST
There were no changes to the pension list for February. Motion was made
and seconded to approve the pension list. The motion passed unanimously.
OLD BUSINESS
Treasurer Linebaugh reported that two CDs came due. The old CD #10832
in the amount of $275,405 was invested with Northwest National Bank #11447
at a rate of 14.35% when it came due on January 18, 1982. The CDifor $180,000 that
matured on January 25, 1982, was invested with Mcllroy Bank for 182 days
at a rate of 14.55%. The old CD was for $150,000, but $30,000 was added to
the CD from savings. Mr. Linebaugh stated that there were no CDs coming due
in February, March or April.
There was some general discussion regarding the forecast for the CD
market in the spring. Treasurer Linebaugh stated that there were two ideas:
(1) that about mid -year the rates will increase and (2) that the market
will go down and stay down the remainder of the year.
A motion was made and seconded to approve these CDs. The motion passed
unanimously.
on Monday,
Administration
Robert Johnson,
The annual contribution to the pension fund was made by Dwayne McChristian
and James Moore. Mr. McChristian's annual 1981 wage was $160.00, and a 3%
contribution of $4.80 was made. Mr. Moore's annual 1981 wage was $567.00, and
$17.01 was the 3% contribution made by him.
NEW BUSINESS
There was no new business.
ADJOURNMENT
There being no further discussion, the meeting adjourned at 4:40.
Sherry Row , Secretary Donald L. Grimes, Chairman