HomeMy WebLinkAboutMinutes - 05/28/2009 - Police Pension BoardSPECIAL MEETING OF THE POLICE PENSION BOARD
CITY OF MCHENRY
Thursday, May 28, 2009
A special meeting of the McHenry Police Pension Board was called to order on, May 28,
2009, at 9:35 AM in the City of McHenry Municipal Center, 333 South Green Street.
At roll call, the following members were present: Sgt. Jeff Foerster, Officer Robert
Roske, Ormel Prust, and Daniel Kinnerk. Absent: Robert Hettermann.
Also present at the meeting was Carolyn Lynch, City of McHenry.
Investment Strategies
Terms and rates were sought to reinvest a $1,000,000 certificate of deposit expiring on
June 2, 2009. Accountant Carolyn Lynch presented a spreadsheet listing bids for
certificates of deposit for 12, and 24-months submitted by various local financial
institutions. Five bids were received with McHenry Bank & Trust offering the highest
rate of interest at 2.26% with a 2.28% APY for 12-months.
Kinnerk made a motion, seconded by Roske to purchase a 12-month certificate of
deposit for $1,000,000 from McHenry Bank & Trust as presented. President
�--- Forester called for a voice vote:
Roske
aye
Forester
aye
Prust
abstain
Kinnerk
aye
Hettermann
absent
Motion carried.
Adjournment
Kinnerk made a motion, seconded by Roske to adjourn the meeting. All ayes,
motion carried.
The meeting was adjourned at 9:40 PM.
Respectfully submitted,
Marcia M. Geragh , Re6brding Secretary