HomeMy WebLinkAboutORD 02-100 ORDINANCE NO. 02-100
ENTITLED AN ORDINANCE ACCEPTING THE DEVISE
FROM THE ESTATE OF DAVID E. DICKINSON, DIRECTING
ESTABLISHMENT OF A TRUST ACCOUNT WITHIN THE
BEAUMONT FINANCIAL SYSTEM NAMED THE
"BEAUMONT PUBLIC LIBRARY SYSTEM ENDOWMENT
TRUST;" AND PROVIDING FOR SEVERABILITY.
Section 1.
WHEREAS, David E. Dickinson willed the residuary of his estate"absolutely and in
fee simple to the City of Beaumont, Texas to be credited to the Beaumont Public Library
System Endowment Trust, the income only therefrom to be used for the purchase of
books, not computer software, selected by the Director of Public Libraries of the Beaumont
Public Library System with the approval of the Beaumont Library Commission"; and,
WHEREAS, the City has an existing Endowment Trust Account for the Beaumont
Public Library System:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY
COUNCIL OF THE CITY OF BEAUMONT:
Hibernia Bank is hereby authorized to accept and hold for the benefit of the City of
Beaumont from the estate of David E. Dickinson securities devised to the City; and as the
securities are sold,the money derived from such sale shall be transferred to the Beaumont
Public Library System Endowment Trust. The money is to be held in the trust account and
the income therefrom shall be expended in strict accordance with the terms of the will of
David E. Dickinson.
Section 2.
That if any section, subsection, sentence, clause or phrase of this ordinance, or
the application of same to a particular set of persons or circumstances should for any
reason be held to be invalid, such invalidity shall not affect the remaining portions of
this ordinance, and to such end the various portions and provisions of this ordinance
are declared to be severable.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 101h day of
December, 2002.
- Mayor velyn M. Lord -
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