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SR 06-11-2019 3B City Council Report City Council Meeting: June 11, 2019 Agenda Item: 3.B 1 of 3 To: Mayor and City Council From: Cynthia Renaud, Chief of Police, Police Department Subject: Bequest to the Santa Monica Animal Shelter Recommended Action Staff recommends that the City Council: 1. Adopt a resolution authorizing the City Manager to accept a bequest currently estimated to be approximately $600,000 from the Bigus Living Trust dated December 9, 2014 (the “Bigus Living Trust”) to be used for the Santa Monica Animal Shelter’s general charitable purposes in accordance with the terms of the trust; 2. Authorize the City Manager to execute all necessary documents to accept funds from the trust; and 3. Authorize budget changes as outlined in the Financial Impacts & Budget Actions section of this report. Summary The Santa Monica Animal Shelter is named as one of four charitable beneficiaries in the Bigus Living Trust. The terms of the Bigus Living Trust specify that the Santa Monica Animal Shelter is to receive 25% of certain assets of the trust “to be used for its [the Santa Monica Animal Shelter’s] general charitable purposes.” The value of the Santa Monica Animal Shelter’s interest is currently estimated to be approximately $600,000. Final appropriation of this gift is pending the sale of Ms. Bigus ’ assets. The Trustee of the Estate has provided this estimation based on the current estimated sale of these assets; market conditions and other factors at the time of sale may increase or decrease the actual amount received. Adoption and approval of the attached Resolution would allow the City to accept this gift (Attachment A). Discussion Ms. Eileen M. Bigus passed away on December 9, 2018. The Santa Monica Animal Shelter was one of one of four charitable beneficiaries named in the Bigus Living Trust. 2 of 3 The gift was a pleasant and welcome surprise. Ms. Bigus was a homeowner in Santa Monica and was a loving cat owner. The trustee of the Bigus Living Trust is currently liquidating the assets of the trust and intends to distribute the assets to the four charitable beneficiaries. Approval and adoption of the attached Resolution would allow the City to accept the bequest from the Bigus Living Trust on behalf of the Santa Monica Animal Shelter. The approval and adoption of the attached Resolution will enable the department to begin utilizing the one-time funds to further the goals, services, and programs of the Animal Shelter and continue to provide the highest quality of care and services to all Santa Monica animals. Financial Impacts and Budget Actions Staff request authority to accept an estimated $600,000 bequest from the Bigus Living Trust . FY 2019-20 Budget Changes Establish Revenue Budget Appropriate Funds Account Number(s) Amount Account Number(s) Amount 10180003.417010 $600,000 To be established $600,000 Total $600,000 Total $600,000 . Prepared By: Alejandro Mendoza, Administrator Approved Forwarded to Council 3 of 3 Attachments: A. Reso - SMPD - Accept Charitable Remainder Bigus Living Trust - 06.11.2019 1 City Council Meeting: June 11, 2019 Santa Monica, California RESOLUTION NUMBER _________ (CCS) (City Council Series) A RESOLUTION OF THE CITY COUNCIL OF 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 Bigus Living Trust dated December 9, 2014 (the “Bigus Living Trust”); WHEREAS, the terms of the Bigus Living Trust specify that the Santa Monica Animal Shelter is to receive 25% of certain assets of the trust “to be used for [the Santa Monica Animal Shelter’s] general charitable purposes”; and WHEREAS, the trustee of the Bigus Living Trust is currently liquidating the assets of the trust and intends to distribute the assets to the charitable beneficiaries. 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 Bigus Living Trust in accordance with the terms of said trust. Funds received from said trust shall be used for the Santa Monica Animal Shelter’s general charitable purposes. The City Manager is authorized to 2 enter into any agreements and execute documents related to the acceptance of funds from the Bigus Living 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: _________________________ LANE DILG City Attorney REFERENCE: Resolution No. 11176 (CCS)