26-1807A
Authorize the (1) acceptance of funds from an anonymous donor in the form of cash and securities to support programming and services at the Dallas Public Library into a City held brokerage account in the estimated value of $2,800,000.00; (2) the immediate sale of held securities and transfer of proceeds and cash from City held brokerage account to City holding account; (3) acceptance of cash from the future sale of mineral rights in an estimated amount of $25,000.00 to the City holding account; (4) establishment of appropriations in an amount not to exceed $560,000.00 in the Library Family Donation Fund; (5) transfer of all cash proceeds from the sale of securities and mineral rights into the Library Family Donation Fund; and (6) execution of the Agreement of Trust Termination and Beneficiaries; Release and Refund Obligation to Successor Trustee of the Residue Trust under the Will of REDACTED and all terms, conditions, and documents required by the agreement - Total Estimated Revenue: Library Family Donation Fund $2,825,000.00
What this record is
- Amount
- $560K
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
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Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Library
- Requested by
- Library (LIB)
- Introduced
- May 14, 2026
- On agenda
- June 24, 2026
- Enactment no.
- 26-1027; APPROVED
Where it was heard
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