Trust & Agency Resolution

This is a sample document ready to fill in the blanks and present to your city council. This resolution is for a general Trust & Agency accoun. Special accounts may also be established.

RESOLUTION NO. ____________________

A RESOLUTION ESTABLISHING A LIBRARY TRUST FUND TO RECEIVE VARIOUS DONATIONS FOR THE FURTHERANCE OF THE PURPOSES OF THE PUBLIC LIBRARY

Be it resolved by the Council of the City of                , Iowa;

Section 1. Upon the request of the                 Public Library Board, the City Clerk and Treasurer are directed by this resolution to establish upon their books of accounts a Library Trust Fund. All donations received for the purpose(s) of said fund shall be credited by them to that fund. The Council may also, when the                 Public Library board of Trustees in its annual budget requests, allow a sum to be transferred from the library services activity account of the General Fund to the Trust Fund towards building up of a capital reserve for the necessary special needs of the                 Public Library. No money shall be expended from this Trust Fund except upon an appropriation of the Council to the Library. The appropriations shall be expended only under the authorization of the Library Board of Trustees and only for the purpose(s) set forth in this resolution for the Library.

Donations received are conditioned that those sums will only be spent for the purpose(s) set out herein, and no donation given for the purpose set out shall be used for any other purpose without the express written approval of the donors. All interest accrued by this fund shall be immediately redeposited to the fund.

Section 2. This resolution shall be effective upon its passage and approval in accordance with law.

Passed and approved, this          day of         , 200  

Mayor                        

Attest: Clerk