To: Board of Supervisors
From: Supervisor Brown and Supervisor McCowen
Meeting Date: October 18, 2016
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Department Contact: |
Supervisor Brown |
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463-4441 |
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Department Contact: |
Supervisor McCowen |
Phone: |
463-4441 |
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Item Type: Consent Agenda |
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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)
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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.
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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 Information Available Online at: N/A
Fiscal Impact:
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Source of Funding: n/a |
Budgeted in Current F/Y: N/A |
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Current F/Y Cost: n/a |
Annual Recurring Cost: n/a |
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Supervisorial District: All |
Vote Requirement: Majority |
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Agreement/Resolution/Ordinance Approved by County Counsel: N/A
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CEO Liaison: Janelle Rau, Deputy CEO |
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CEO Review: Yes |
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Comments: