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File #: 16-1090    Version: 1 Name:
Type: Resolution Status: Approved
File created: 10/11/2016 In control: Board of Supervisors
On agenda: 10/18/2016 Final action: 10/18/2016
Title: Adoption of Resolution Approving Disbursement of $200,000 from the William J. and Melvina K. Toney Revocable Trust to Retire Debt Incurred for the Capital Project of Constructing an Archival Building (Sponsors: Supervisors McCowen and Brown)
Attachments: 1. Resolution 16-128, 2. Letter, 3. Resolution 15-132

TO: Board of Supervisors
FROM: Supervisor Brown and Supervisor McCowen
MEETING DATE: October 18, 2016


DEPARTMENT CONTACT:
Supervisor Brown
PHONE:
463-4441
DEPARTMENT CONTACT:
Supervisor McCowen
PHONE:
463-4441


ITEM TYPE: Consent Agenda

TIME ALLOCATED FOR ITEM: N/A


AGENDA TITLE:
title
Adoption of Resolution Approving Disbursement of $200,000 from the William J. and Melvina K. Toney Revocable Trust to Retire Debt Incurred for the Capital Project of Constructing an Archival Building (Sponsors: Supervisors McCowen and Brown)
End

RECOMMENDED ACTION/MOTION:
recommendation
Adopt Resolution authorizing disbursement of $200,000 from the William J. and Melvina K. Toney Revocable Trust, deposited in the Mendocino County Museum Endowment Fund, to retire debt incurred for the capital project of constructing an archival building, and authorize Chair to sign same.
End

PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
August 18, 2015: The Board approved Resolution No. 15-132 which clarified the terms and process by which the Mendocino County Historical Society may access funds from the William J. and Melvina K. Toney Revocable Trust.

SUMMARY OF REQUEST:
Resolution No. 15-132 clarified that the Mendocino County Historical Society (MCHS) may access principle of the William J. and Melvina K. Toney Revocable Trust, for use in capital projects, pursuant to a letter of request, and subject to a resolution of the Mendocino County Board of Supervisors. The MCHS is in the process of completing construction of an archival building, a significant capital project. Pursuant to the terms of Resolution No. 15-132, MCHS has submitted a letter, dated September 27, 2016, requesting disbursement of $200,000 to retire debt incurred for construction of the archival building. Supervisors Brown and McCowen request approval of a new Resolution authorizing disbursement of the funds as requested.

ALTERNATIVE ACTION/MOTION:
Do not adopt the Resolution.

SUPPLEMENTAL INFORMATIO...

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