Agenda

Return

C. 33

To:	Board of Supervisors
From:	Melinda Cervantes, County Librarian
Date:	May 2, 2017

Contra

Costa

County

Subject:

Termination of the Davi Trust Fund

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 05/02/2017

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:	Alison McKee, 925-608-7790
cc:	Auditor-Controller

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: May 2, 2017
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the County Librarian, or designee, to terminate the Davi Trust and distribute the principal and any accrued interest to the County Library fund for use in purchasing materials and equipment for the Pittsburg Library.

FISCAL IMPACT:

The principal and any accrued interest is to be distributed to the County Library fund for use in purchasing materials and equipment for the Pittsburg Library.

BACKGROUND:

The Davi Trust was created with a donation of $10,000 in 1968, and $5,000 in 1970 from Bert Davi, a Pittsburg resident. The interest generated by the $15,000 fund each year is to be used to purchase materials on food preparation and preservation for the Pittsburg Library. Since that time, the Pittsburg Library has been purchasing cookbooks, videos, books on canning, etc. They are now concerned that other areas of the collection are deficient while the collection on these materials is disproportionate.

BACKGROUND: (CONT'D)

Mr. and Mrs. Davi are now deceased and unable to amend the trust. The trust can be terminated in accordance with Prob. Code §15408(b).

Any such purchases after termination will be marked as donations in Memory of Vincent Davi.

CONSEQUENCE OF NEGATIVE ACTION:

The trust will continue to exist and the collection of these materials will continue to be disproportionate compared to the entire collection.