HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 11/07/2000 (3) Firemen' s Relief & Pension Board
November 7 , 2000
Boardmembers Present : Jim White, Sam Grubbs, Al Bond,
Brenda Jacober
Others Present : Bonnie Fell, Brigitte Hoopes and
Paula Barry of the Finance Dept .
The Mayor called the meeting to order at 3 : 00 p .m.
Approval of Minutes . Bond moved to approve the minutes of
the October 3 , 2000 meeting. Grubbs seconded and the
motion carried.
Approval of September Financial Transactions Fell
distributed copies of the September financial transactions,
and noted that there have been no big changes . Grubbs
moved to accept the September financial report . Bond
seconded and the motion carried.
Other Business - City Clerk Absence Procedure. Grubbs
noted that the Deputy City Clerk attended the last meeting
in the absence of the City Clerk, and questioned whether
the deputy is considered part of a quorum and has a vote .
Jacober agreed to research the issue and report back at the
next meeting.
Other Business - Investment Report. Barry stated that she
purchased an investment for $90, 000 earning a yield of
7 . 24% . She distributed and explained information showing
the yield curve, and noted that there is approximately
$100, 000 in the pool earning 6 . 4% . Barry explained that
$500, 000 will mature in November and will need to be
reinvested. She recommended keeping the portfolio
diversified and buying $250 , 000 worth of investments to
fill in the 1-3 year gap . All agreed.
Adjournment. The meeting adjourned at 3 : 11 p.m.
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Brenda Jacober�,%CMC
City Clerk/Boardmember