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Home My WebLink About236-15 RESOLUTIONOF Ff.Y.FTTF gR1KANS PS 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 236-15 File Number: 2015-0613 LIB HORN ANIMAL SHELTER: A RESOLUTION TO AUTHORIZE MAYOR JORDAN TO SIGN ANY AND ALL DOCUMENTS NECESSARY TO ACCEPT, COLLECT, RECEIVE AND/OR TRANSFER ALL OF THE ASSETS GIVEN BY LIB HORN TO THE LIB HORN ANIMAL SHELTER OF FAYETTEVILLE WHEREAS, by Resolution No. 220-15, the Fayetteville City Council named the Fayetteville Animal Shelter in honor of its long-time director and later dedicated volunteer for animal rights, Lib Horn; and WHEREAS, Lib Horn directed that a significant portion of her estate managed by Taurus Financial Advisors, LLC in accounts held and administered by Cambridge Investment Research Advisors, Inc. be donated to the Fayetteville Animal Shelter; and WHEREAS, Mayor Jordan will need to sign various documents to open the necessary accounts, convert all assets to cash and receive such cash or equivalent to be used for the Lib Horn Animal Shelter of Fayetteville. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby authorizes Mayor Jordan to sign any and all documents necessary to accept, collect, receive and/or transfer all of the assets given by Lib Horn to the Lib Horn Animal Shelter of Fayetteville. PASSED and APPROVED on 12/15/2015 Page 1 Printed on 12121115 File Number 2015-0613 Attest: Lisa Branson, Deputy City RK FAYETTEVILLE1�r v ° e r 5 A`f iA NSP ✓G T GQ `eo /411)111110' Page 2 Printed on 12121115 City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 ® (479) 575-8323 ,.. Text File File Number: 2015-0613 Agenda Date: 12/15/2015 Version: 1 Status: Agenda Ready In Control: City Council Meeting File Type: Resolution Agenda Number: A. 16 LIB HORN ANIMAL SHELTER: A RESOLUTION TO AUTHORIZE MAYOR JORDAN TO SIGN ANY AND ALL DOCUMENTS NECESSARY TO ACCEPT, COLLECT, RECEIVE AND/OR TRANSFER ALL OF THE ASSETS GIVEN BY LIB HORN TO THE LIB HORN ANIMAL SHELTER OF FAYETTEVILLE WHEREAS, by Resolution No. 220-15, the Fayetteville City Council named the Fayetteville Animal Shelter in honor of its long-time director and later dedicated volunteer for animal rights, Lib Horn; and WHEREAS, Lib Horn directed that a significant portion of her estate managed by Taurus Financial Advisors, LLC in accounts held and administered by Cambridge Investment Research Advisors, Inc. be donated to the Fayetteville Animal Shelter; and WHEREAS, Mayor Jordan will need to sign various documents to open the necessary accounts, convert all assets to cash and receive such cash or equivalent to be used for the Lib Horn Animal Shelter of Fayetteville. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council of the City of Fayetteville, Arkansas hereby authorizes Mayor Jordan to sign any and all documents necessary to accept, collect, receive and/or transfer all of the assets given by Lib Horn to the Lib Horn Animal Shelter of Fayetteville. City of Fayetteville, Arkansas Page 1 Printed on 1211612015 DEPARTMENTAL CORRESPONDENCE OFFICE OF THE CITY ATTORNEY TO: Mayor Jordan City Council CC: Don Marr, Chief of Staff Paul Becker, Finance Director FROM: Kit Williams, City Attorney' t-` --` DATE: December 8, 2015 Kit Williams City Attorney Blake Pennington Assistant City Attorney Patti Mulford Paralegal RE: Receiving assets from Lib Horn IRA and other accounts from Taurus Financial Advisors, LLC or Cambridge Investment Research Advisors,. Inc. Lib Horn left instructions with Taurus Financial Advisors, LLC that a sizable portion of her financial assets should be transferred to the Fayetteville Animal Shelter upon her death. In order to accomplish her wishes, Mayor Jordan will be required to open in the name of the City three accounts with Taurus Financial Advisors or Cambridge Investment Research Advisors to receive the assets from her accounts. Some of these accounts include securities which the City may not invest in. Therefore, all assets in these accounts will be immediately converted to cash or its equivalent and paid to the City upon the clearance of the sales (three business days). The City Council should provide clear and express authority to Mayor Jordan to sign any and all necessary documents to authorize the City to receive the funds that Lib Horn wished us to have for the Animal Shelter. Attached is the Resolution to accomplish this. I am forced to walk on this Agenda Item at the Tentative Agenda Session so that the Mayor can be empowered and authorized to sign all applications, sale orders, and other necessary documents to obtain these funds without unnecessary delay. Legistar ID No.: 2015-0619 AGENDA REQUEST FORM ,TOTt, Çoor.il ryIegtfrrg of December IS,201lS City Attorney Kit Williams ORDINANCE OO A RESOLUTION TO AUTHORI'F MAYOR JORDAN TO SIGN ANY AND ALLDOCUMENTS NECESSARY TO ACCEPT; _ðOTTBCT RECEIVE AND/ORTRANSFER ALL OF THE ASSETS GIVEN BY LIB HORN TO T,,E LIB HORNANIMAL SHELTER OF FAYETTEVILLE APPROVED FOR ACENDA City Attorney Xit Williams þ** 8 , ?-u,ç Date C \J ca A. -i-\ovn • ev 6 co-We .T�ts(- City of Fayetteville Staff Review Form cal c-ev l\Il41\11(Y-0--‘ 2016-0153 _S e*.,e_ Legistar File ID 4 1€, W(0 4 n/a f 6 a 3 36-6 City Council Meeting Date-Agenda Item Only N/A for Non-Agenda Item • City Attorney/ Blake Pennington 3/21/2016 General Government Department _ Submitted By Submitted Date Division/Department Action Recommendation: Request for Mayor Jordan to sign the attached Receipt of Distributee acknowledging that the City has received a check in the amount of$33,103.50 from the Olivia A. Horn Revocable Trust for the Fayetteville Animal Shelter. Budget Impact: Account Number Fund Project Number Project Title Budgeted Item? NA Current Budget $ - Funds Obligated $ - Current Balance $ - Does item have a cost? NA Item Cost Budget Adjustment Attached? NA Budget Adjustment Remaining Budget $ - V20140710 Previous Ordinance or Resolution 4 236-15 Original Contract Number: Approval Date: j -a 5-10 Comments: