HomeMy WebLinkAbout1968-02-12 59-V ORDER59-V
Introduced by Councilor Paldacci, Feb. 12, 1968
CITY OF BANGOR
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By the City Coyrwd of the City ofBonou.:
ORDERED,
TIUT tbe request of the Hangar children's Home, attached berets, is
hereby approved.
59-V
b ORDER
aiue,
IN CITY ccV IL ..i:SViR .Y: BYYYYY..i�1Z }d Zen pj N ¢pp
Feb. 12,196a
PASSED T St FuFd
......................................
Imx cl.eax Intanduced and Filed by
Councilmen
BHngar tl72ilaren's deme
BANGOR eMAINE
Jauuary 262 1968
Hmorrble J. Alley, City Clerk
City Hall
Bangor, Maine 04401
➢ear Mr. Alley:
We understand that the egreoment between the
Bangor Children's Home and the City of Banger dated
January 18, 1876 u r waich the City holds $40,000 of
Bangor Children's Hame funds provides that the City
Council may return the fund to the Home at May time.
d Bangor Children's Home would like to have
these funds returned end if the Council approves I void
appreciate it if you va ld forward us your check for the
principal ®Dunt as well as asy accrued earnings wtich
may be due.
Thank you for }roux help.
a:ct
Very
truly yours,
John Blatchfor
President
T I T L E B.VUOUR OnMPSEUTS Jq FDND
D.ST3 EST... ,I STD, O.MN 182 1896.
S4 '.UMk EST ARLISI� TRUSTEES OF FAMOUS CHILDREN'S FOBS
USE OP. FII.4PUSE Interest to be paid the Home. The principal to be
returned on request.
I
Th1S institution wes originally established in 1839 by an act of the State legislature as
the Bsng,r Fenale Orplvs AsFlum. IueIl coat
Thin was changed to the Fnngor Obildren'a Jim* in 1866. The present building, w
from t+renty-rive to thirty thousand dollars, me ereotad from a fund left by Mrs. Sarah paras Fitcher
^for benevolent and religiose purposes". Dollars,
The support is derived contributions ofof ovazioue MndB - 010thing� fre t.veget blted by eu provisimso
Sanger
residents, wco Mother aid it by contributions
voles. toys arc.
CITY BECOB. VOL. VII. PAGE 511. /1/
Ordered that the City Treasurer be and ox
hereby is authlaed and directed on tender thereof,
to re ve iron the trusteen of the Bangor Children's home, in trust, the sus of forty-thavaand dollars
and to vV said Truster:: interest theregn semi-annually at the rats of six percentum per ounces, so
Iosy. es the same is held in trust and used by the City of Bangor. dad the City Council hereby reaerves
to ! P" t),4 right of may and all times to order the City Trmmaae to return said rums, after reasonable
noticethereof to the Trustees im current fonds.
Peaeed San. 18, 1876.
t patent tc "Uses is ai,;n141ed.
py [is City Council of the City of Bangor
GCCILa5 the City of Bangor does non hold certain money in trust for the use and b8mefit of
the B,n^or Childrmis Hone in the sun of $40,000.00 Dud
NIW-VEU the rate of interest by previous order of the City Council was fixed at 64 and
D� V it new seems advisable to establish a uniform rate of interest to be received and
I, be yid by said City upon trust fonds, it is nun
OiBffiii® that tb®Ye Sball hhYtiefter be paid td lila Bangor Children's Home each r0tnrn by nay
of interest upon the investments as sball be received during way, given yenr upas the inreatIDBnt and
It is farther
ODCE that if the servings upon the investment in any me year shell not equal 5% on the
Invcaddition
is rreenrnhreceiveihupon ll the imeetmentraste and $bell pees 1he said 5% upon h fonds do trust amleach a sum it to (further
OBDEd that all orders or resolves passed by any, previcros City Council establishing the rate
nteeeA to be paid are hereby repealed.
Dec. Y1, 1963.