HomeMy WebLinkAbout9.c. Trust Fund AppointmentOf CITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: DECEMBER 4, 2001
AGENDA ITEM: TRUST FUND APPOINTMENT
AGENDA SECTION:
NEW BUSINESS
PREPARED BY: MAYOR CATHY BUSHO
AGEND Q =
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ATTACHMENTS: RESOLUTION
APPROVED BY:
On November 19, 1992, the USPCI, Inc. Rosemount Community Trust was formed. At the time the trust was
established, Mayor E.B. McMenomy appointed three trustees to administer funds: Steve Toombs, Jack Warweg,
and myself. Two company representatives from USPCI were also appointed at that time. Over the nine years of
its existence, the name of the trust has changed; currently it is called the SKB Environmental Trust Fund.
The original trust document indicates that terms of trustee members run for two consecutive 3 -year terms. The
attorney that drafted the original document instructed the trustees that terms did not begin until the trust had
accrued enough money to begin actual distribution of funds. Trustees understood that term lengths were as
follows: Steve Toombs' term expiring in 2002, Jack Warweg's term expiring in 2003, and my term expiring this
year.
The trustees of the Rosemount Community Trust have been discussing nominees for trustee positions since
September. The trustees recognize the need for strong community representation yet they would also like
someone who is familiar with the needs of the City— someone who understands the needs of the community yet
can also understand budget documents. This is a volunteer, unpaid position. Meetings are held once a month
and require a one -hour commitment each month.
The Board of Trustees has recommended Dan Schultz, Director of Parks and Recreation to be the nominee to
replace me, and I am forwarding this recommendation to appoint on to the City Council for approval.
RECOMMENDED ACTION: MOTION TO APPOINT DAN SCHULTZ, DIRECTOR OF PARKS &
RECREATION, TO THE BOARD OF TRUSTEES OF THE SKB ENVIRONMENTAL TRUST FUND.
COUNCIL ACTION:
CITY OF ROSEMOUNT
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2001-
A RESOLUTION FOR APPOINTMENT OF A TRUSTEE TO THE SKB
ENVIRONMENTAL TRUST FUND
WHEREAS, the SKB Environmental Trust Fund provides that the City Council shall
appoint Class I Trustees to serve on this board.
NOW, THERFORE, BE IT RESOLVED, that the City Council of the City of
Rosemount hereby appoints and designates Dan Schultz to serve as a Class I Trustee for a
three year term.
ADOPTED this 4 th day of December, 2001.
Cathy Busho, Mayor
ATTEST:
Linda Jentink, City Clerk
Motion by:
Voted in favor:
Second by:
Voted against: