HomeMy WebLinkAboutPOLICE PENSION - 04/18/1978 - Board of Trustees,
Police Pension Fund
I"inutes of Regular �,uarterly Eoard Meeting,
Tuesday, April ltd, 1978. I4eeting Held in
The Staff Conference Room, hunicipal Euilding,
901 Wellington Avenue, Elk Grove Village,
Illinois.
Prepared by; Eugene s'. Brandt
Trustee-Secretary
89
President Diemer called the meeting to order at 7:32 P.M.
'IN Donald Jones, the newly elected member to the board, elected
to replace Robert Canary who resigned for personal reasons,
was introduced to the board by Secretary Brandt.
Roll call of officers : President Diemer, Vice President Jones,
Secretary Brandt, Assistant Secretary Farley and Treasurer
Coney, all members present.
I�iinutes of the previous meeting held on Tuesday, January 10,
1978 which were previously distributed, were read and were
approved as written.
A motion was made by Farley and 2nd by Jones to authorize the
return of funds contributed by Gerald Walsh and Robert Sebastian,
who both resigned from the police department and requested the
the refund of their contributions. Checks were issued.
A motion was made by Diemer and 2nd by Brandt to accept into the
fund the requests of the lj new members of tt_e police department.
All passed their qualifying entrance physical examinations.
President Diemer instructed Secretary Brandt to send a letter to =�
Paddock Publications to notify them of our regular meeting dates.
Pat Turner notified the board that there is currently I�p 70,000.00
in the checking account to be invested. After much discussion,
the board decided to invest in U.S . Treasury bonds at current
8.00 interest rate to mature in 1986.
Treasurer Coney submitted a current financial report, of which
copy is attached.
New signature cards will have to be prepared to include Jones.
Participants contributions and salary summary will be distributed
during the first part of Piay.
Being no further business to discuss, the meeting was adjourned
at 6 :16 P.I.I.
Submitted by,
76ene E. Brandt
Trustee-Secretary
cc : Diemer
Jones
Farley '64il1is
Coney E.E.
Erandt File
P. Turner
L. Turner