HomeMy WebLinkAboutInternet Committee Minutes 02.12.1992• M I N UT E S
MEMBERS PRESENT:
CHUCK RODGERS
DON HACKMAN
LONNIE KELLOGG,
OTHERS PRESENT:
STEVE COSNER
INVESTMENT COMMITTEE
DATE FEBRUARY 12, 1992-TIME 5:30
PLACE OF MEETING CITY HALL
CHAIRMAN:
VICKI JACKSON VICKI METZGER
A QUORUM (3 Or MORE) PRESENT, THE FOLLOWING ACTION WAS TAKEN
BY THE COMMITTEE:
Don Hackman brought pledge securities up for review. He
explained pledge securities are money that secures our
investment. Steve explained the money was being held in
trust. All banks were reviewed and current.
The committee recommends to council that we add a fifth
signature to our checking and investment banking cards.
We ask that Lonnie Kellogg be put on the cards as he is
co-chairman of the investment committee. On investment
day we have had some problems obtaining a second signature
so Vicki can transfer money between the banks. The council
president and vice-president are not readily available to
sign. Lonnie is in town the majority of the time.
We asked Vicki Jackson to look into long term vs. short
term investments. If her bank is interested and able to
be part of our radible distribution. If we should consider
treasury bills as a investment. She will get the information
we need.
Don informed Vicki that he will be sending out bid letters
for a loan on our fire truck. She will let Don know if her
bank would like to participate in the bidding.
The next investment meeting will be April 20, 1992.