HomeMy WebLinkAbout1997-09-22 97-406 RESOLVE_-COUNCIL ACTION _
Item No. 97-406
Date: 9-22-97
ItesNeubject Resolve, Authorizing Ma Establishment of a Trost Fund for the Benefit of Children
Residing in Park Woods
Responsible Department Health and Welfare
Commentary: - - - - - -
This Resolve would establish a Trust Fond for the benefit of children residing in Park Woods. The
Resolve would also establish By-laws for the purpose of administering the Trust Account.
Department Head
Man' a Is Commenm:
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Associated Information: Resolve
Budget Approval:
Director
Legal Approval:
City Solicit
Introduced for
K Passage
First Reading Page _ of.
Referral
9),-406
Assigned to Councilor Baldaccl September 22, 1997
_ CITY OF BANGOR
(TITLE.) pf.111iltt...... Authorizing the Bstablishment of a Trust Fond for
....._......_..._...._..._...__......._........_..................._..._......6......_...�...
the Benefit of Children Residing in Park Woods
By the cay council 0Ise c ty wEawo.:
B LVBBl
there is hereby established a Trust Fond account for the benefit of
the children residing in Park Woods; end
BE IT F[1R R ORDERED, THAT the attached by-laws be authonzed w carry out Ne
purpose of the Trust Account.
9]-406
IN Cln COUNCIL
September 22. 1997
k'
Passed EES0L V E
Authorizing the Establishment of a 4uet
TT L Fund for the t of Children Residing
in Park woods 0! �gPPI
The Children's Trust Fund
City of Bangor - Park Woods Transitional Housing Project
By -Laws
I. Name and Purpose
A. The name of Me fund is the "ChiNmn's Trust Fund-.
B. The Children's Trust Fund collects, manages and disburses monies for the benefit of
Me children from the Park Woods neighborhood
II. Governance
A. Boats of Directors
1. There shall be a Board of Directors composed of three adult Park Woods
tenants, Me Case Manager, a City Finance representative, and the Police Officer
assigned to the neighborhood The Boats shall have Me following duties and
powers:
a. To appoint new Board members when vacancies occur;
It. To set and interpret policies for the Trust Fund;
c. To receive and manage monies for the Fund;
J. To receive and consider requests for disbursement of Fund monies;
e. To prepare financial reports annually;
2. The Board shall record Its meetings and decisions In a bound notebook,
available for review by audltors, City staff and donors.
3. The Board shall meet as needed - telephone meetings will be acceptable -
within 5 days of a request for funding support.
4. Two Board members shall be signatories for financial transactions.
5. Decisions: Two-thirds of Me Board Membership must vote in favor for a
proposal to be accepted.
III. Amendments:
These Byte" may be amended by two-thirds vote of the Board.
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