HomeMy WebLinkAbout1983-12-05 MinutesMINUTES OF A MiEETING OF THE FIREMEN'S PENSION RELIEF BOARD
A meting of the Firemen's Pension and Relief Board was held on
Monday, December 5, 1983 at 4:30 P.M. in the City Manager's Office,
Interim City Hall, Fayetteville, Arkansas.
PRESENT:
Chairman Grimes
Treasurer Linebaugh
Fire Chief Logue
Fireman Boiu9rey
ABSENT: None
CAIS. TO ORDER
Fireman Dill
Fireman Judy
Fireman Springston
Secretary Kennedy
The meting was called to order by Chairman Grimes.
MINUTES
With no corrections or additions to the Minutes of October 31, 1983,
the Chairman stated the Minutes stand approved as submitted.
PENSION LIST
The Treasurer stated the Pension List reads the same as last month.
Fireman Dill, seconded by Springston, made a motion to approve the Pension
List for December. The motion passed unanimously.
OLD BUSINESS
Treasurer Linebaugh reported on investment activity for the month of
November:
CD#22611
CD#11796
CD#12960
CD#12961
CD#12962
CD#12963
CD#11807
Mcllroy Bank $312,000 9.63%
N.W. National Bank 420,595 9.945%
Mcllroy Bank 113,199 11.5%
MCllroy Bank 100,000 11.5%
MbIlroy Bank 100,000 11.5%
McIlroy Bank 100,000 11.5%
N.W. National Bank 333,000 9.58%
Linebaugh reported the reinvestment of the $312,000 CD was won by First
National Bank, for one year at 9.75%. He reported the five CD's which cam
due on November 7, along with $36,000 of new money, for a total CD of $869,794,
was won by Northwest National Bank for 182 days at 9.52%. Linebaugh reported
the CD which came due on November 21, $333,000, with $50,000 new irony added
to it, for a total CD of $383,000, was won by Mcllroy Bank for one year at 9.75%.
Fire Chief Logue, seconded by Judy, rade a motion to approve the investments
as reported by Linebaugh. The nation passed unanimously.
Treasurer Linebaugh noted the Board had discussed looking into the
possibility of investing at Savings and Loans in the future. He stated he is
in the process of researching this idea but is not ready with a report at this
time. Linebaugh noted the Savings and Loans have been paying more on CD's than
the Banks. Linebaugh was asked about what Little Rock banks are paying and he
stated the last time he checked into that, he found no advantage to going that
way.
Linebaugh reported there would be no investments coming due until April.
Chairman Gripes asked Treasurer Linebaugh to check again with the Pension
Board in Little Rock on how the banks are bidding in Little Rock.
ADJOURNMENT
There being no further business before the Fire Pension Relief Board, the
nccting adjourned at 4:40 P.M.
09:25:13 30 NOV 1983
ACTIVE SECURITIES FOR FUND NUMBER 0B1 - FIRE PENSION AS OF 30 NOV 1983 PAGE 1
BANK
PURCHASE MATURITY CALCULATED RECEIVED ACCRUED ORIGIN CASHED DISPOSITION
SECURITY DATE DATE PERIOD C 0 5 T RATE INTEREST INTEREST INTEREST & AMOUNT DATE & AMOUNT
157 FEDL 01221 10-25-92 04-23-84 OTHER 540000.00 9.820% 26296.08 5416.84 581.13 11791
345000.00
01275
195000.00
MCILPOV 23261 11-21-83 11-20-84 OTHER 383000.00 9.7507. 37342.50 0.00 920.77 11807
333000. 00
0 NEW
50000. 00
14
1ST NTL 26112 11-01-83 10-31-84 OTHER 312000.00 9.750% 30420.00 0.00 2416.93 22611
312000. 00
NW NTL 11821 10-20-83 10-19-84 OTHER 437205.00 9.905% 43305.15 3559.33 1304.4
NW NTL
n
45
7
45
54
44
154
11831 11-07-83 05-07-84 OTHER
869794.44 9.520% 41288.76 0.00 5217.81
2541999.44 178652.51 8976.17 10441.07
11723
275405.00
11724
125800.00
NEW
36000.00
12960
113149.44
12961
100000.00
12962
100000. 00
12963
100000.00
11796
420595.00
NEW
36000.00
48
49
SCP
s.
53
55
55
w
n5.111YNeM%{, J'A RIY.AW;
T.
Vh4