Laserfiche WebLink
• 0 <br /> 6 . The Trust instrument or Trust Agreement shall contain <br /> the following language: <br /> A. No money may be drawn out of the Trust Account <br /> unless said money is used for capital maintenance or a capital <br /> improvement within the City of Batesville. <br /> B. No funds will be withdrawn or checks written unless <br /> signed by all three trustees . <br /> C. No funds will be expended without the consent and <br /> approval of the Batesville City Council and the Board of <br /> Directors of the Batesville Jaycees . <br /> D. An annual accounting will be provided to the <br /> Batesville City Council and the Board of Directors of the <br /> Batesville Jaycees by the Trustees . Said report would no only <br /> include the expenditures from the year just completed but would <br /> also propose future uses of the fund income. <br /> E. That all income of whatever kind from the Jaycee <br /> Building will be deposited into the Trust Account and all <br /> expenditures for maintenance and upkeep of the building shall be <br /> written out of the Trust Account . <br /> F. At no time will the fund balance be allowed to be <br /> drawn down below the balance reasonably necessary as a <br /> depreciation and maintenance reserve fund for the Jaycee <br /> Building. <br /> 7 . Of the approximately Fifty Seven Thousand Dollars <br /> ( $57 , 000. 00) previously collected but undisbursed, Forty Thousand <br /> Dollars ($40 , 000 . 00) would be donated to the City at the present <br /> time for improvements at the North Recreation Complex. Ten <br />