HomeMy WebLinkAboutMINUTES - 09271988 - 1.62 TO- BOARD OF SUPERVISORS
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FROM: Donald L. Bouchet, Auditor-Controller Contra
Costa
DATE: September 9 , 1988 Ca.*
SUBJECT: Elliget Trust Fund Termination and Distribution lJ
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) a BACKGROUND AND JUSTIFICATION
I. RECOMMENDATION:
Terminate Ida B. Elliget Trust Fund and distribute funds to
the budget of the Health Services Department for geriatric
services.
II. FINANCIAL IMPACT:
None.
III . REASONS FOR RECOMMENDATION:
In 1947, the Board of Supervisors accepted $1,128.18 from the
Estate of Ida B. Elliget for the purpose of establishing an
"old ladies home". Since it has been impractical and
virtually impossible to use the fund for its intended
purpose, we request that the Board of Supervisors terminate
the fund under the authority of Penal Code section 15408 (b) .
Under this section, a trustee can terminate a trust when the
principal value is less than $20 ,000. The County Counsel has
advised us that trust termination and distribution of this
trust by the Board of Supervisors is appropriate. '
We recommend that upon termination, the trust funds be
distributed to the budget of the Health Services Department
for geriatric services because such a distribution would
"conform as nearly as' possible to the intention of the
settlor as expressed in the trust instrument" as required
by Probate Code section 15410 (c) .
IV. CONSEQUENCES- OF NEGATIVE ACTION
If this recommendation is not approved, the trust amount
will remain in its present account serving no purpose.
CONTINUED ON ATTACHMENT: ^ YES SIGNATURE: t
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF B ARD COMMITTEE
APPROVE OTHER
i
SIGNATURE S :
ACTION OF BOARD ON FP 9. 7 1982 APPROVED AS RECOMMENDED 'OTHER
VOTE OF SUPERVISORS 1
�- I HEREBY CERTIFY THAT THIS 1S A TRUE
UNANIMOUS (ABSENT ? AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
cc; County Counsel ATTESTED SEP 2 71988_ _
County Administrator PHIL BATCHELOR. CLERK OF THE BOARD OF
Auditor-Controller SUPERVISORS AND COUNTY ADMINISTRATOR
M382/7-83 BY <..P..t,� _,DEPUTY