HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 10/06/1968 FIREMEN' S PENSION BOARD MEETING
SBPTEMBER 6 , 1963
G -� Members present : M. L. Armstrong, von Bridge , Marie Jensen
and Alternate Bryant . Also present : City
Administrator Joe Street and City 'Treasurer
_s Cavanaugh
In Mayor Thornton ' s absence , M. L. Armstrong filled in as
Chairman . The meeting was called to order at 4 : 30 P.m. it,
the Kent City Hall fop the purpose of discussing the Loomis
and Kennedy Analysis of the bent Firemen ' s Pension Fund.
The recommendations of Loomis and Kennedy were discussed ,
Armstrong moved that the City Treasurer be authorized to
make the following changes in the investment: of Firemen ' s
:Pension funds :
Sell $520, 000 Savings
Buy 610 , 000+ U. S . Treasury Notes
5-3i4/ 1975
Buy U10, 000 Federal. Land Bank
5-1;3/ 1973
and for the Treasurer to make these purchases as soon as
possible or at the end of the month, whichever he deems
best after checking the accounts . Motion seconded by Bridge .
Under discussion , it was pointed out that these particular
items may not be available or a better investment way be
available and the Treasurer will seek out the best investment
available at the time. notion carried unanimously.
3ri.dge presented two bills from doctors in Iowa in the amounts
of $72 , 31 and 10 .40. It was explained that these amounts re-
present portions not covered by Group Health, since the expenses
were incurred at a point distant from the clinic area.
_ Armstrong moved , Jensen seconded to approve the bills as presented
to be paid from Firemen ' s Pension Fund.
There being no further business to discuss , the meeting was
"® adjourned at 5 : 30 p.m.
Respectfully submitted ,
Marie Jensen
Secretary
al