r-10589Council meeting: June 28, 2011
California
Santa Monica,
RESOLUTION NUMBER 10589 (CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL FOR THE
CITY OF SANTA MONICA ACCEPTING THE
CHARITABLE REMAINDER OF THE MARTIN CHARITABLE TRUST
WHEREAS; the City of Santa Monica is one of the charitable beneficiaries of the
Martin Charitable Remainder Unitrust created by Richard G. Martin and Virginia L.
Martin ("Martin Charitable Trust") in or about March of 1996. The terms of the Martin
Charitable Trust specify that the City of Santa Monica is to receive 10% of the assets of
the trust "to be used to maintain and develop Palisades Park." The trustee of the Martin
Charitable Trust is currently liquidating the assets of the trust and distributing the assets
to the charitable beneficiaries; and
WHEREAS, in order for the City to accept its share of the trust assets, the
Council must adopt a resolution setting forth the City's intent to utilize the assets to
maintain and develop the park.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City accepts the assets of the Martin Charitable Trust in
accordance with the terms of said trust. Funds received from said trust shall be used to
maintain and develop Palisades Park. The City Manager is authorized to enter into any
agreements and execute documents related to the acceptance of funds from the Martin
Charitable Trust.
SECTION 2. The City Clerk shall certify to the adoption of this Resolution, and
thenceforth and thereafter the same shall be in full force and effect.
APPROVED AS TO FORM:
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MA SHA OJVES MO TRIE
City Attorn~
Adopted and approved this 28th day of June, 2011.
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Richard Bloom, Mayor
I, Denise Anderson-Warren, Acting City Clerk of the City of Santa Monica, do
hereby certify that the foregoing Resolution No. 10589_ (CCS) was duly adopted at a
meeting of the Santa Monica City Council held on the 28th day of June, 2011, by the
following vote:
Ayes: Councilmembers:
Holbrook, O'Connor, O'Day,
Mayor Bloom, Mayor Pro Tem Davis
Noes: Councilmembers:
None
Absent: Councilmembers: McKeown, Shriver
ATTEST:
Denise Anderson-Warren, Acting City Clerk