HomeMy WebLinkAboutR21-033 Distribution from the Alexander Allen Trust to Youthpower 365 DocuSign Envelope ID:54A3EFC9-67AA-48E2-8DDB-02D0743CDCA9
Commissioner McQueeney
moved adoption of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO.2021-033
RESOLUTION DIRECTING THE 2021 DISTRIBUTION
FROM THE ALEXANDER ALLEN TRUST
TO YOUTHPOWER 365
DOLLARS FOR SCHOLARS
WHEREAS, Eagle County is the trustee for the Alexander Allen Jr.Trust Fund; and
WHEREAS, Eagle County engaged Wells Fargo,NA to administer this fund balance
and make investments for this Trust Fund; and
WHEREAS,the Board of County Commissioners has been directed to distribute this
Trust Fund to fund local Eagle County students' scholarships under 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 fifty-two thousand dollars
($52,000) to be distributed through the YouthPower 365 Dollars for Scholars Program in 2021.
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, in June 2021,
to release a total of$52,000 to the Eagle County Treasurer, who will pass those funds along to
the Higher Education Institutions on behalf of local scholarship recipients, in accordance with
the terms of the Agreement between YouthPower 365 and Eagle County concerning the
administration of the Alexander J. Allen Trust Scholarship Fund.
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.
ADOPTED by the Board of County Commissioners of the County of Eagle, State of
Colorado, at its regular meeting held the 22 day of June, 2021.
DocuSign Envelope ID:54A3EFC9-67AA-48E2-8DDB-02D0743CDCA9
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ATTEST: 1—DocuSigned by: ,.—DocuSigned by:
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Clerk to the Bbard9r F248s a o- Mattilituhurr0473
County Commissioners Chair
DocuSigned by:
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ka-EBSAMagneY
Commissioner
Absent
Kathy Chandler-Henry
Commissioner
Commissioner Scherr seconded adoption of the foregoing resolution. The roll
having been called,the vote was as follows:
Commissioner Scherr Aye
Commissioner McQueeney Aye
Commissioner Chandler-Henry Absent
This resolution passed by 2/0 vote of the Board of County Commissioners of
the County of Eagle, State of Colorado
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