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HomeMy WebLinkAboutR20-033 Directing 2020 Distribution from the Alexander Allen Jr Trust to YouthPower 365 Dollars for Scholars DocuSign Envelope ID:0086075B-C5FD-4FD9-870E-AB32F49218B5 McQueeney Commissioner moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE,STATE OF COLORADO RESOLUTION NO.2020-933 RESOLUTION DIRECTING THE 2020 DISTRIBUTION FROM THE ALEXANDER ALLEN JR TRUST TO YOUTHPOWER 365 DOLLARS FOR SCHOLARS WHEREAS,the county is the trustee for the Alexander Allen Jr.Trust Fund;and WHEREAS,the county has enlisted Wells Fargo,NA to help in administering this fund balance and investments for this Trust Fund;and WHEREAS,the Board of County Commissioners wishes to distribute the entire balance of this Trust Fund within 5 years to fund local Eagle County students' scholarships in accordance with the terms of the Trust documents;and WHEREAS,the annual distribution amount Wells Fargo,NA will make each year will be determined through collaborative calculations between Eagle County and YouthPower 365 in February of each year;and WHEREAS,the Board of County Commissioners intends for$30,000 to be distributed through the YouthPower 365 Dollars for Scholars Program in 2020. NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE,STATE OF COLORADO: THAT,the Board of County Commissioners directs Wells Fargo,NA to release a total of$30,000.00 in April 2020 to the Eagle County Treasurer who will give it to YouthPower365 for distribution to the Higher Education Institutions on behalf of local students in accordance with the terms of the Agreement between YouthPower 365 and Eagle County concerning the administration of the Alexander J.Allen Trust Scholarship Funds.. THAT,the Board hereby finds,determines and declares that this Resolution is necessary for the public health, safety and welfare of the residents of the County of Eagle, State of Colorado. MOVED,READ AND ADOPTED by the Board of County Commissioners of the County of Eagle,State of Colorado,at its regular meeting held the28th day of April,2020. COUNTY OF EAGLE, STATE OF ac,ow coG COLORADO,By and Through Its ATTEST: WQ� 1.1 BOARD OF COUNTY COMMISSIONERS DocuSigned by: l I ,—DocuSigned by: 'iti .♦ / By: �j1 audit.�ity-.A-taAn -'e BB C - erdtd of %Loaap,o KalitykAktriderktlenry County Commissioners Chair (—kat( � at( Sdtu�,, M tt Se4iitIFF18E0473... Commissioner DocuSigned by: Je easteQuefaney Commissioner DocuSign Envelope ID:0086075B-C5FD-4FD9-870E-AB32F49218B5 Commissioner Scher- seconded adoption of the foregoing resolution.The roll having been called, the vote was as follows: Commissioner Chandler-Henry Aye Commissioner Scherr Aye Commissioner McQueeney Aye 3/0 This resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado.