HomeMy WebLinkAbout1991-06-24 91-255 ORDINANCEt,ounca Action
Date Ig! 9. foes Isear No. 91-255
Item/Subject: Amending Chapter Il. Article 21 of the Lste all oMlnaneea of the
City of Bangor — Imif n..®ar Cental MfALc Tract
Responsibla Department: Health end afelfore
Commentary: The paagesss of this Ordinance is W establish a Trost TWL
for th Childranar Costal Clinic. the income Close this Cutest could be
coed to reduce the east of the Dental Clime to the General Pmi. A
long term fund raising campaign sill M iaderteken W solicit donations
from iMivldualar orgaSsatiose are! corpantions. To date $7.600 in
uvoldeited rirode More been donated.
prn m
Manager's Comments:
lrynunaar
Associated information:
Budget Approval:
t « m2
Legal Approval: n -/
O Soliaimr or
c4t
Introduced For
sage pogeof
First Reatling
Referral
91-255
Assigned to Councilor Frankel, June 24, 1991
CITY OF BANGOR
(TITLE) QVr1fI1tMUM Am n"sn' chapter 11, Article 21 of the Laws and
Ordinances of the City of Hangar -- Childrena' Dental Clinic Trust
Be i6 ordainsd dy the Ciel ComusU Ode Ciy ofBanaar, asfoMnsu
THAT Chapter II, Article 21 of the Laws and Ordinances of the City of
Bangor is hereby amended by addition of Section 3.3, as -follows:
3.3 Childrens' Dantal Clinic Trust. A Childrens' Dental
Clinic Trust is hereby
created within the Public Health Division of the Public
Health and Welfare Department. The Trust shall b,
administered as follows,
3.3.1 Receipt of Gifts. The Trust shall be authorised
to receive gifts of money,
securities, or useful property from any private
party wishing to donate the same. All such
gifts shall be received for use consistent with
the purposes of the Trust hereinafter set
forth. The Trustees shall declines any gift
use of which is restricted in a manner inconsistent
with, or which is not useful to the purposes of
the Trust.
3.3.2 Trustees. The Trustees of the Trust shall
consist of the City's Director of
Public Health and Welfare, the City's Director
of Finance, and such other Trustees, not exceeding
three (3) as may be appointed from time to time
by the City Council. The Trustees shall expend
annually all income received from the Trust in
accordance with the Trust's purpose. Any trust
income not so spent within one year of receipt
shall be carried forward for expenditure the
next or subsequent years. The Trustees may direct
that all or a part of the income not so spent
shall be added to the Trust principal. Not later
than September 15th of each year, the Trustees
shall report to the City Council of the activities,
additions to and expenditures by the Trust
during the preceding fiscal year.
3.3.3 Management of Fulls. All securities received
by the Trust shall be
converted to an equivalent value in money. All
such funds and all cash donations received by the
Trust shall be placed for deposit with the trust
department of an insured, federally -licensed bank
regularly conducting Business in the State of Maine
and in the City of Bangor. Such funds shall be de-
posited by such bank at the Trustee's direction in
an income-producing trust account or mutual fund
which shall provide the highest consistent
annual income while guaranteeing a return of
principal. Such account or fund shall be one
which reports and pays income on a periodic
basis and not less frequently than once per
Fear. The Trustees may expend annually to the
trust department of the bank selected to manage
its funds, an amount not to exceed one percent
of the average principal balance of. the Trust,
r Fifty Dollars ($50.00), whichever is greater, _
as a fee for the investment and management of
the Trust's funds. Reports of the fund's -
balance, income and expenditures shall be
maintained by the City's Director of Finance.
3.3.4 Purpose of Trust. The purpose of the Trust
shall be to provide dental
care to children within the City of Bangor who,
due to lack of family resources, otherwise
might not receive such care.
3.3.5 Dissolution. Opon dissolution of the Trust, but
not sooner than twenty (20) years
after the effective date of this Ordinance, all
funds and other property belonging to the Trust
shall become the property of the City of Bangor,
to be utilised within the City's Department of
Public Health and Welfare to provide dental o
other medical care to indigent children within
the City.
In City Council lean 24,1991
let reading
91-255
ORDINANCE
( TITIEO Amending Cheater If article 21'
of the lave and ordinances of the city of Bangor
Children Dental Clinic Trust
.d
IN CITY CODICIL t
July 8, 1991
Pissed by the following yes
and no votes. councilors voting
yes: Baldeccl, Bragg, Frankel,
Baal, Sosnaud, Stone and Sullivan'
Counq�lors absyrt: CDhen and Sawyer.
Y CLERK