HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 03/13/1981� I
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rQ Firemen's Pension Board
yF March 13, 1981
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` A meeting of the Firemen' s Pension Board was called to order at
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3: 00 p.m. Board members present: Council Finance Committee
rF member Jon Johnson, Mayor Isabel Hogan, City Clerk Marie Jensen.
Also present: Margaret Drotz, City Treasurer .
�, The purpose of the meeting was to consider a proposal by the
Treasurer to sell to the Firemen' s Pension Fund a note in lieu
of bonds for LID 295 in the amount of $44, 942 . 22 . The note
would mature in 12 years and would bear interest at the rate
of 10 . 75%.
It was noted that the Fund had purchased similar notes in the
past for other small LIDS .
Johnson moved to approve the purchase, Hoaan seconded, and the
motion carried. Jensen noted that Board member Captain Otndorff
had been contacted and concurred with this action.
,r Jensen further noted that the other Board member, Captain Bridge,
was no longer on active duty and that the Fire Department had
'yr been asked to hold an election.
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Drotz distributed a financial report of the status of the Fund,
a copy of which is attached to these minutes .
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It was noted that Finance Director McCarthy was making arrange-
ments to have the regular actuarial survey conducted.
There was no other business to come before the Board and the
meeting was adjourned.
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' Marie Jensen, City Clerk
Secretary of the Board
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s...; ec: Board members
Finance Director
City Treasurer
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