Laserfiche WebLink
CABARRUS COUNTY <br /> Post Office Box 70'/ <br /> CONCORD, NORTH CAROLINA 28026 <br /> <br />To: Board of Commissioners <br /> <br />From: Blair Bennett, Finance Director <br /> <br />Date: July 31, 1990 <br /> <br />Subject: Distribution of Margaret Holt Will <br /> <br />Cabarrus county was bequeathed estate funds from the will of <br />Margaret Holt during the fiscal year ending 1989. A combination <br />of checks and stock certificates were received over the past two <br />years. Some time ago the Board of Commissioners authorized me to <br />sell the stock certificates through a broker. From stock sale <br />proceeds, dividends, and earlier checks, cabarrus County has now <br />received $61,928.90. From these receipts, Cabarrus County Board <br />of Education is to receive $30,964.45 for the sole purpose of <br />granting scholarships for the post-secondary education of artists. <br />An agreement with the Board of Education may be appropriate to <br />handle these funds. Additionally, the Board of Trustees of the <br />Cabarrus County Public Library, or the other governing body of the <br />Cabarrus County Public Library are to receive $30,964.45 for the <br />purpose of maintaining an art collection. There are other specific <br />directions given in the attached copy of the will concerning the <br />uses of all these funds. <br /> <br />I have discussed this will with Fletcher Martsell add we% are <br />recommending that the disbursement of these funds be handle~ by <br />approval of budget amendments which will establish account~ to <br />appropriately track the expenditures of these funds. <br /> <br /> <br />