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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: 7lasti�Jucrxr2Fv �aela rJak/% i / o i tyM - �l p, ,._�J��/,y"yy,�/�_ y�� /� JCityp�Mana,Ba CxMilteMe* lw�_�JnR 9/lY if rmAM( /z'FP1 f ��vM" 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. chink A.wpE