HomeMy WebLinkAbout1990-438
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RESOLUTION NO. fj)-~37
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF A TRUST AGREEMENT FOR THE TRI-CENTENNIAL
3 CONSTITUTION COMMITTEE.
4 BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY
OF SAN BERNARDINO AS FOLLOWS:
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SECTION 1. The Mayor is hereby authorized and directed to
execute on behalf of said City a Trust Agreement for the Tri
Centennial Constitution Committee.
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SECTION 2.
The authorization to execute the above-
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referenced agreement is rescinded if the parties to the agreement
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fail to execute it within sixty (60) days of the passage of this
resolution.
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I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San
meeting thereof, held on the~~
Bernardino at a ~~
day of ~P7~1 90, by the
following vote, to wit:
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DAB/seS/TrustAgr.res
October 11, 1990
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1 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE
EXECUTION OF A TRUST AGREEMENT FOR THE TRI-CENTENNIAL
2 CONSTITUTIONAL COMMITTEE.
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(p a day
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The foregoing resolution is
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7 Approved as to
form and legal content:
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JAMES F. PENMAN,
City Attorney
By: ~? ~
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DAB/ses/TrustAgr.res
October II, 1990
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c
T Y
o F
SAN
B ERN, A .R 0
N 0
SAN BERNARDINO
BICENTENNIAL COMMISSION
OF THE UNITED STATES
CONSTITUTION
WILLIAM R. COLEMAN
Chairman
THELMA PRESS
Executive Director
The city of San Bernardino was officially recognized as a
Bicentennial constitution community in september 1987-1990.
The Committee Members were as follows:
Hal Boring
Dr. William Coleman
Fred coops
Larry Harvey
Dave Light
Esther Mata
Arthur Nelson
Chuck Palmer
Thelma Press
Harry Reubottom
Duke Rouse
Olive Short
George Webster
The Liberty Bell Ceremony in September, 1987 highlighted the
opening of the four year celebration in our city.
Each year schools were invited to participate in
programs during constitution Week to honor our great
Books were displayed at our main Library relating
constitution.
special
legacy.
to our
The committee, through Judge Rouse, was involved in the
ceremonies for new U. S. Citizens to bring to their attention
the function of "We the People" in government and the direct
effects of the constitution.
The highlight of the celebration was a coin design contest
which was won by a nine year old city school student.
The committee as of November 1990 will no longer be in
effect. committee Members and interested citizens have
donated $1,000 to be held in a trust by the city of San
Bernardino for the Tri Centennial Constitution Committee (see
attached agreement). The amount is deposited with Life
Savings Bank at Highland Avenue in San Bernardino,
California.
Dr. william Coleman, Chairman will make the presentation at a
November Council Meeting.
doc. bicentennial
City Hall I Office of the Mayor
300 North '0' Street
San Bernardino, California 92401
714/384~5114
PRIDE -I
1;:;;rESS
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TRUST AGREEMENT
(Tri-centennial constitution Celebration)
THIS TRUST AGREEMENT IS ENTERED INTO THIS day of
, 1990, by and between Dr. William & Monique
coleman, Larry & Evelyn Harvev, Jack & Jennie Hill
Bob & Penny Holcomb , Bill Lemann
Esther Mata
Olen & Norine Miller
Arthur & Katherine Nelson ,
Lou & Thelma Press
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and George & Irene Webster, as Trustors, and the CITY OF SAN
BERNARDINO, a municipal corporation, as Trustee.
WIT N E SSE T H:
WHEREAS, each person hereinabove specified as Trustors
desire to transfer and deliver to the Trustee the sum of one
hundred dollars ($100.00), for a total sum of one thousand
dollars ($,1000.00), which said sum is to be maintained and
invested at interest with all interest accumulating thereon
until the time of distribution as provided hereinl and
WHEREAS, it is anticipated that said sum will grow and
increase until by the year 2087 A.D. it will be
approximately $1,068,753; and
WHEREAS, Trustors desire to make said transfer and
Trustee desires to accept said funds upon the terms and
conditions hereinafter set forth,
NOW, THEREFORE, it is agreed as follows:
1. Trustors have transferred and delivered the sum of
one thousand dollars ($1,000.00) to Trustee to be held in
trust until the year 2087 A.D. Receipt of said sum is
hereby acknowledged by Trustee.
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2. Trustee shall maintain said sum of one thpusand
dollars ($I,OOO.OO) in an interest bearing account,
certificate of deposit or other like account or instrument
with a bank, savings and loan association or other like
financial institution located in the City of San Bernardino,
California. The Life savings Bank, 1598 E. Highland Avenue,
San Bernardino, California, or its successors in interest,
is hereby designated as the initial depository for said
funds. At the discretion of the Trustee, funds may be placed
in the highest yielding type of investment that is approved
under the California Government Code and offered at the
designated bank; such funds may also be placed in a similar
account at another financial institution in the city of San
Bernardino, in Trustee's discretion.
3. Said funds shall be maintained by Trustee intact
with all interest accumulating and drawing interest until
January 1, 2087 A.D.
4. On January 2, 2087 A.D., Trustee shall distribute
one-half of the total sum so held in trust to the San
Bernardino Tri-Centennial Constitution Commission or
equivalent organization as hereinafter provided for the sole
and exclusive purpose of celebr~ting the ratification of the
U.S. Constitution, in the City of San Bernardino during the
year of 2087 A.D. Trustee shall distribute the remaining
one-half of the total sum so held in the trust for the U.S.
Government for the sole and exclusive purpose of celebrating
the ratification of the U.S. Constitution during the year of
2087 A.D., said funds to be turned over to the appropriate
agency organizing and promoting the Tri-centennial
celebration of the U.S. Constitution. If more than one such
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agency exists, the advisory committee shall determin~ which
federally recognized committee shall receive the funds
hereunder.
5. A Tri-Centennial Constitution advisory committee
comprised of the original ten (10) Trustors is hereby
established for the sole purpose of meeting every ten years
after the date of this agreement, reviewing the progress of
the invested funds; and maintaining interest in the Tri-
Centennial constitution celebration. In the event of the
resignation of an advisory committee member from the
advisory committee, or in the event of his or her demise
during the term hereof, then the Mayor and Common Council of
the City of San Bernardino shall appoint replacement
successor committee members based upon the following order
of preference:
(a) Lineal descendants of the original Trustors in
order of degrees of relationship who reside within the City;
(b) Other relatives of the original Trustors;
(c) Any other person.
The determination of the Mayor and Common Council of
the City of San Bernardino as Trustee with respect to the
appointment of successor committee members shall be final
and conclusive.
6. On July 1, 2086, the then existing and appointed
successors in interest to the original Trustors shall meet
and form the city of san, Bernardino Tri-centennial
Constitution Commission or equivalent organization for the
purpose of organizing and promulgating the Tri-centennial
Constitution celebration during the year 2087 within the
City of San Bernardino.
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7. That at the time of any payments made pursuant to
paragraph 4 of this Trust Agreement, the trustee shall enter
into an agre,ment with the recipient committee to the effect
that the trustee shall reserve the right to commence
administrative or civil action against such recipient if
such funds are not used in and for the public interests of
the City of San Bernardino Tri-centennial Constitution
Celebration.
8. The interest of any beneficiary hereto is not
subject to voluntary or involuntary transfer.
9. This trust shall terminate on December 31, 2087.
funds not expended shall be transferred to the Treasury of
the City of San Bernardino and used for general municipal
purposes.
10. This trust shall be irrevocable and shall not be
subject to amendment or alteration, and the Trustors hereby
charge, release and relinquish all right, title and interest
in the funds transferred hereunder and all accumulated
interest. All management and control of the corpus of the
trust and all accumulated income shall be at all times
vested entirely in the Trustee.
ll. The Trustee shall not receive any compensation for
its services hereunder, it being agreed and understood that
the services of the Trustee are provided in consideration of
the promotion of the Tri-centennial celebration of the U.S.
Constitution for the City of San Bernardino.
12. This trust has been accepted by Trustee and will
be administered in the State of California, and its
validity, construction and all rights thereunder shall be
governed by the laws of that state. If any provision of
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this Trust Agre~ment shall be i.nvalid or .unenforceable, the
remaining provisions thereof shall continue to be fully
effective.
13. The provisions of this agreement shall enforceable
by the Trustors, and any heir, administrator, executor or
assign of the Trustors, and shall be solely and exclusively
for the overall civic benefit to the residents and citizens
of the city ,of San Bernardino.
The Trustors and the Trustee have executed this Trust
Agreement on the day and year first above written.
TRUSTORS
TRUSTEE
ATTEST:
~~L~
Cit: Clerk
Approved as to form
and legal content
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STATE OF CALIFORNIA
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COUNTY OF SAN BERNARDINO
On
, 1990, before, me, a Notary
Public in and for said County and State, personally
appeared
5 known to me to be the person
6 whose name is subscribed to the within instrument and
7 acknowledged that he executed the same.
S WITNESS my hand and official seal.
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Notary Public in and for said
County and State
My Commission expires
14 STATE OF CALIFORNIA
15 COUNTY OF SAN BERNARDINO
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, 1990, before me, a Notary
On
17 Public in and for said County and state, personally
appeared
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19 person
known to me to be the
20 I whose name is subscribed to the within instrument and
21 acknowledged that he executed the same.
22 WITNESS my hand and official seal.
Notary Public in and for said
24 County and state
25 My Commission expires
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