BC 1990 08 06 - Laserfiche WebLink

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490 ATTEST: /s Frankte F, Small CLERK APPROVED AS TO FORM: BY: /s/ Fletcher L, Hartsell, Jr. ATTORNEY BY: /s/ James W, Lentz CHAIRMAN BOARD OF COMMISSIONERS UPON MOTION of Commissioner Moss, seconded by Commissioner Simmons and unanimously carried, the Board approved the recommendation by Mr. Blair Bennett, Finance Director, and Mr. Fletcher L. Hartsell, Jr., County Attorney, that the disbursement of estate funds from the will of Margaret Holt be handled by approval of budget amendments which will establish accounts to appropriately track the expenditures of these funds. The funds totaling $61,928.90 from checks, stock sales proceeds, and dividends were to be distributed in the following manner: $30,964.45 to the Cabarrus County Board of Education for the Holt Scholarship Fund and $30,964.45 to the Board of Trustees of the Cabarrus County Public Library or the other governing body of Cabarrus County Public Library for the establishment of the Holt Art Collection. Specific directions concerning the use of these funds as set forth in the will of Margaret Holt were as follows. Cabarrus County - Holt Scholarship Fund One (1) share shall be distributed to the Cabarrus County Commission, Concord, North Carolina ("Cabarrus County Commission"), or succeeding governing body. This share shall be held by the Cabarrus County Commission, and to the extent permitted by law, shall be administered and distributed in accordance with the recommendation of the Cabarrus County Board of Education for the sole purpose of granting scholarships for the post-secondary educations of artists in the fields of historical, architectural, landscape, marine, flower, portrait, genre, miniature or scene painting, sculpture, interior or textile design, and similar types of art work. Scholarships may be granted only to artists who reside permanently in Cabarrus County, North Carolina. Recipients of scholarships may use their scholarship at any post-secondary educational institution approved by the Cabarrus County Board of Education. Cabarrus County - Establishment of Holt Art Collection One (1) share shall be distributed to the Cabarrus County Commission for the purpose of establishing and maintaining an art collection to be known as the "Don S. and Margaret M. Holt Art Collection." I request that the Board of Trustees of the Cabarrus County Public Library, or other governing body of the Cabarrus County Public Library, use this bequest in such a manner that the Don S. and Margaret M. Holt Art Collection may further art education for all citizens of Cabarrus County. I further direct that the Cabarrus County Commission expend funds from this share to purchase a bronze plaque bearing the following inscription: "The Don S. and Margaret M. Holt Art Collection is given in memory of Don S. Holt, President and Chief Executive Officer of Cannon Mills Company from 1962-1974, Chairman of the Board of Directors of Cannon Mills Company from 1971-1974, and a member of the Board of Directors of Cannon Mills Company from 1962-1980" This plaque shall be placed in a suitable location at the first public library to be established in Kannapolis, North Carolina. UPON MOTION of Commissioner Simmons, seconded by Commissioner Moss and unanimously carried, the Board approved the following contract which established a Master of Public Administration (MPA) Training Program between the University of North Carolina at Chapel Hill and Cabarrus County and authorized Chairman Lentz to execute the contract on behalf of Cabarrus County.