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<br /> . <br /> . <br /> Mayor and CouncIl <br /> Annual Meeting - L.J.V.F.D. Benefit AssociatIon <br /> . January 20. 1990 <br /> I i ab i lit I es . Apparently. the Association's actuarial has <br /> determined that this test has been met. I believe that we <br /> should make note of this benefit increase, and state for the <br /> record that by taking this action, the Association has <br /> effectively notified us that they have met the actuarial <br /> tests required by statute. <br /> The counc I I is aware that one source of the <br /> Association's income is a $100.000 loan it made to the fire <br /> department In November. 1987, to finance improvements at <br /> statIon 1- The prIncipal on thi s loan. and interest. at <br /> 10 . 75% ~ is being repaid at the rate of $30,000 per year. <br /> wi th the final payment due in 1991. We pay 100% of these <br /> costs: refer to budget line item 3,02, It was announced at <br /> the meeting that the state has deemed arrangements such as <br /> th I s Illegal. a ruling I bel ieve to be appropriate. <br /> It was also announced that the state has determined <br /> that the office of Association president should not be held <br /> Dj' a retired firefighter. The current president. Les <br /> Nesler, is a retired firefighter. but he indicated he plans <br /> to retain his office until the expiration of his term in <br /> 1992. <br /> . This summary recaps the business conducted at the <br /> meeting. Please feel free to contact me If you should have <br /> any questions. <br /> . -- Page 3 -- <br />