HomeMy WebLinkAboutPOLICE PENSION - 01/11/1977 - IV 7' 53
Board of Trustees ,
Police Pension Fund
t_ Minutes of Regular Quarterly Board meeting,
Tuesday, January 11 , 1977 . Meeting held in
the Staff Conference Room, Municipal Building ,
901 Wellington Avenue , Elk Grove Village ,
Illinois .
L -
Prepared by: Richard Losch
Trustee-Secretary
55
President Grant Watson called the meeting to order at 7 : 10 p .m.
Roll Call of officers : President Watson, Vice-President
Robert Canary, Secretary Richard Losch, Assistant Secretary
David Farley and Treasurer George Coney all present . None
absent and no others in attendance .
Minutes of previous meeting held on Tuesday, October 12 , 1976
were previously distributed and the minutes were approved as
written.
Secretary Losch reported that Officer George LaMont had resigned ,
effective October 30 , 1976 and that contributions in the amount
of $6, 285 . 99 had been returned at his request . Farley moved to
approve said refund, seconded by Canary, motion carried.
Secretary Losch reported that David Giles was appointed as
Patrolman as of December 16 , 1976 and had made application to
participate in the fund, and meets all requirements . Farley
moved to accept application of David Giles , seconded by Losch,
motion carried.
Treasurer Coney will pursue the method of transfer of bonds from
the safe-deposit box at the Bank of Elk Grove to the Continental
Illinois National Bank of Chicago as previously discussed and
approved at the October 12 , 1976 meeting , and report back to the
Board.
Coney reported that $90 , 000 . 00 worth of bonds are due 02/15/77 and
Lanother $90 , 000 . 00 worth are due 08/15/77 . Discussion followed
regarding future investment of these funds when they are available.
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It was decided to wait until due dates before determining which
series of bonds to purchase (reinvest) .
Being no further business to discuss , meeting adjourned at
7 : 35 p.m.
Submitted by
Richard Losch ,
Trustee-Secretary
RL :dn
cc : Watson
Canary
Losch
Farley
Coney
P . Turner
L . Turner
Willis
B . B .
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