HomeMy WebLinkAbout1998-01-26 98-97 ORDERCOUNCIL ACTION
Item No. 98-97
Date January 26 1998
Item/Subject: Authorizing the Establishment of a Trust and Agency
Account for Perpetual Care of the Bangor Creative Playground and
Acceptance Of Funds for this Purpose
Responsible Department: Legal
The Bangor Creative Playground on Onion Street was completed ten
years ago. During that time, Fairmount Terrace Corporation, a
non-profit corporation, has maintained a trust fund solely for the
purpose of maintaining the Bangor Creative Playground. As Of
November 22, 1997 the trust had $33.981.00.
The Fairmount Terrace Corporation would like to turn over the funds
to the City of Bangor in such a way that they will be available
solely for the Bangor Creative Playground. This Order authorizes
the City Manager, on behalf of the City of Bangor, to accept the
gift of money and establish a trust account for the benefit of the
Bangor Creative Playground on Union Street.
The Finance Committee reviewed the matter on January 20th and
recommended approval.
Department H
�1 �✓,{,(ueI
' City Manager
Associated Information: Order, Letter dated 11/22/97
Finance Director
ty
Introduced for
Passage
efReading
Referral
ral Page 1 of _3_
98-9]
Ardprcd to Caunnyar Farnham January 26, 1998
CITY OF BANGOR
(IML) M„y� Authorizing the Establishment of a Trust and
Agency Account for Perpetual Care of the Bangor Creative Playground
and Acceptance of Funds for this Purpose
.._......... _ _....__.------ _... ........
.....__. ............ ____
By tM City CauwR of City of Bangor.
ORDERED,
THAT there is hereby established a Trust and Agency Account
for the perpetual care and improvement of the Bangor Creative
Playground. The Finance Director is authorized to accept donations
to this account; and
BE IT FURTHER ORDERED,
THAT the Finance Director is authorized to accept a cash gift
from the Fairmount Terrace Corporation for the purpose of care and
improvements to the Bangor Creative Playground, Union Street,
Bangor.
IN CITY COUNCIL
January 26, 1998
Passed
C .ERR
iA
ORDER
Title, Authorizing the Establishment of
a Trust and Agency Account for Perpetual
Care of the Bangor Creative Ple round
..................4............. ya....
..............
Councilman
November 22,1997
Timothy Woodcock
73 Hatlrnv Street
Bangor, Me. 04401
RE: BangorCrealive Playground
Dear Mayor and City Council Members
It l had to beleve that 10 years have passed since vre completed the Bangor
Creative loannound. Over thou years, Fairmord Terrace CoMorettn, as a non for
profit corporation has maintained a trust fund solely for Ute p noose of maintainingthe
Bangor Creafive Playground ahucture. At Uns point $33,981.00 is being held al the
Bangor Federal Credit Untn with the income used annually ro perform maintenance.
Recently the architect, Robed Leathers, toured the playground with Dale Thermut
and suggested some additional items he done to ensure its longevity.
At this point our Mitran are grown and our lues have taken a diRerent direction.
We would suggest Net these funds be turned over to the city to be het in trust solely for
the maintenance of the Bangor Creative Playground. We as a committee put out heart
and soul into this playground. Wefeel very strongly Net Nu murrey ehoultl betumed
over to the sty in such a way that the funds *9 only be available for the Bangor Creative
Playground. The playground has proven to he a wonderful asset b the children of
Bangor and these funds need to be protected so that future generations can continua to
enjoy the playground. With the work being done by Ne city and the money available
through this fund the playground's future wout seem secure.
Please place this on the City Council Agenda so we might make this transfer as
soon as possible. If needed you may contactmeat 603964-1735.
Vary truly' 1
G /
Barbara 44
General Coordinator. Bangor Creative Playground
co: Edward Barrett
cc Dale Thedaut
do Paula Pamcis
cc: Gail Johnson