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Home My WebLink AboutXXXX-XX-XX MCTF Synopsis and BylawsMALLEY CENTER TRUST FUND: Governed y Trust Documents. The Malley Center Trust Fund was established fort e use and benefit the Englewood Senior Citizen'Recreation Center known as the Elsie Malley Centennial Center. Source of Authority: ridi ante 2 of 198 1 Appointed City Council upon Parks and Recreation recommendation and one City Council Member serves fortenure Membership includes: Council liaison, City Council Delegate Trustee, Parks & kec Commission ember This oard consists of five trustees serving three 3 year terms. One trustee is appointed from City Council who serves during tenure in office. One trustee is appointed by City Council from the membership oft e Englewood Parks and eereation Commission who serves during tenure in office. Three trustees to be appointed by City Council upon recommendation of Parks and Recreation Commission who have the following requirements: 1. is a resident of Englewood. 2. Is over the age of 55. 3. is active in the affairs oft e Elsie Malley Center. (Ordinance No. 28, Series 1 1 Bylaws: No i There is er 3. Trustees,uo approval of thea- e City known as the Malleyt Fund, propriations by the Cityo d a Trust Fund for the use and benefitaccordance admin- Englewood senior _ citizens center known , ative procedures of the City, may as the Elsie Malley Centennial Center. make distributions of income and A. tee Appointed. Appointed co for a exclusive a ben - e t o a x eCentennial of Center following:Center. 1. One trustee to be appointed from the 4.e costs of servicing the fund shall City Councilo shallserve during e approved by City Council as an tenure in office o citizenofexpense of e Englewood to be appointed serve 5. The trusteesshall have such other t Couneffs pleasure or for a term t. power as is necessary carry out not to exceed two ) years. the purpose of the trust. 2. One trustee to be appointed City 6. e trustfund shall< Council omembershipf the accordance a applicable re- Englewoodquirementsof « the Rome Rule Char - Commission o s ter, ordinances of Cityto tenure in office. Finance a . Three) trustees to be appointed by City Connell upon recommendation e trust fund may be to rminated of Parks and Recreation Commas- by City Council; however, any funds `o ch three ) s t s be • ute , have ea D exclusively for the purpose of the cations: Elsie Malley Centennial Center. resident of the City, to the Malley_ t Fund to b. Be over the age of fifty v (55). be 7hx Deductible., donations, be- e. Be active e affairs of the quests and contributions to the Malley Elsie Malley Centennial Cen- Center Trust Fund are made exclusively for the public purpose herein described and are considered to% deductible under 7arms of appointment for first trustees the Internal Revenue Codelaws shall be for one, two ) 3) of the State of Colorado. years. The City Councilshall designate (Code 1985, 4-3-9; Ord. -, § 28) appointee is appointed, for a one year,which ) year or three (3) year term. Thereafteritrmteps oppainted,byi Council shall be appointed for ee year terms. B. t Funds. All gifts, donations, be- quests, contributions and all investments thereof from whatever lawful sources, to- gether with all accumulations, accruals, earnings and income with respect delivered to the Malley Centert Fund shall be in trust for the use and benefit of u Elsiee ter in e herebyFund established. C. Management of the ftstFund. 1. The ! day-to- day e a policy of the Trust . The trusteess the City Council periodic appropriations Malleyfrom the Center Trust r the exclusive use and benefit of Elsiethe ey Centennial Center. E dV. WHEREAS,BY AUTHORITY COUNCIL BILL NO. 30 ORDINANCE NO. SERIES OF 1981 INTRODUCED BY COUNCIL MEMBER 'BRADSHAW AN ORDINANCE ESTABLISHING A SPECIAL FUND OF THE CITY TO BE NNOWN AS THE"MALLEY CENTER TRUST FUND" FOR THE BENEFIT OF THE ENGLEWOOD SENIOR CITIZENS RECREATIONAL CENTER ADDING A MEW SUBSECTION TO TITLE XIII,, CHAPTER 5, OF THE-169 ENGLEWOOD MUNICIPAL CODE. the seniory use of and enjoy a senior citizens center Center,the Elsie Malley Centennial and residentsWHEREAS, the the Cityare desirous of raising funds for the benefitsenior citizens recreation NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF , section t 1 169 EMC, is hereby ZWn_a=eto add the following pi There13-5-10: MALLEY CENTER TRUST FUND ESTABLISHED is hereby establishedspecial it "Malleyof Englewood known as the Center .. trust fund for the use and benefit of the Englewood senior citizens recreation Malleyi xe appointed:(a) Trustees trusteesAppointed as l Fund are the following-, 1. One trustee to be appointedthe City Council who shall serve during tenure in office. 2. One trustee to be appointedi cil membershipfrom the i cParks Recreationserve during tenure in office 3. Three trustees to be appointed by City Council upon recommendationaRecreation which three trustees shall have the followingi is t 1 a. be a resident of the City of Englewood, b. be over the age of 55; active in the affairsl Malleyi Center.z i M of appointement for first trustees shall be for years.Terms onep two and three Council'shall designate which appointee is appointed for one-year, term.or three-year Thereafter, trustees appointed by Council shall be appointed for three-year terms. (b) Trust Funds. All gifts, °r contributionst and all investment thereof from v together with all accumulations, accruals, eearnings, and i delivered y Center Trust Fund shall be held Ifor the use and benefit of the Elsie MalleyCentennial t in the fund hereby established. F (c) Management of the Fund. i The Director of t y Clark- , shall the investment 2. The trustees shall recommend to the City Council periodic appropriations,from the Malleyr Trustr the exclusiveuse and benefit Elsiell l Center. b Trustees,approval �, ty c c i..appropriationsdadminis- . make... trative distribu- ,j iof e and Le #; and Elsiese benefit of the e Centenniali Center. 4 The costs ici the Fund shall by City ci .. , . The trustees shall havesuch necessarycarry the trust. 6. The trust fund shall be managed in accordance with the applicabler the Home Rule Charterp Ordinances of the City, and State,i c 7. The trust fund t i Council - however, r _ in the trust shall distributed exclusively fort os of the Elsie Malley Centennial Center. t k (d) Contributions to the Malley gust Fund to be Tax Deductible. Gifts, ti, bequestst and contributions to the TrustMalley Center 'Fund are made exclusivelythe r Introduced;public purpose herein described and,are considered tax deductible under the internal Revenue Code and the laws of the state of Colorado. read in full, and passed on first reading on the 17th day of February, 1981. Published as a Bill for an Ordinance on th6' 25thday of % t . Read by title *4 passed on final reading on the 9th day of March, 19,81. rPublished by title t# March,on the llth day ol yor Attest: 49 WK—okc �cCi l I. Gary R. Clerk -Treasurer of the City of Englewood, Colorado, hereby certify that the above