HomeMy WebLinkAbout1999-04-20; City Council; 15148; Donation to the Friends of the Carlsbad Libraryii!! 0
ii
. .
p
2
d
ii
z
- -?
CITY OF CARLSBAD - AGEMA BILL
AB# is! ]q 8 TITLE: ACKNOWLEDGMENT OF A DONATION TO THE
FRIENDS OF THE CARLSBAD LIBRARY FROM MRS.
MTG. 4120199 WILLIAM D. CANNON AND APPROVAL OF NAMING THE
NEW LIBRARY GALLERY IN MEMORY OF WILLIAM D.
DEPT. LIB CANNON.
RECOMMENDED ACTION:
Adopt Resolution No. 99- /3? acknowledging a donation to the Friends of the Carlsbad
Library from Mrs. William D. Cannon and approving the naming of the new library gallery in
memory of William D. Cannon.
ITEM EXPLANATION:
Mrs. Cannon has pledged to donate $250,000 to the Friends of the Carlsbad Library as an
endowment to support exhibits, programs, and operations in the gallery. Mrs. Cannon is
making this donation based on the naming of the facility “The William D. Cannon Art
Gallery.” In recognition of her generous donation, staff recommends that the gallery be
named “The William D. Cannon Art Gallery.”
Mrs. Cannon will be making her donation in installments, beginning with a $100,000 gift at
this time to be followed by six installments of $25,000 each over six years. It is possible
that the additional installments will be paid sooner than over the six year period.
FISCAL IMPACT:
There will be no impact on the General Fund. The donation will create an endowment fund
administered by the Friends of the Library. All interest earned will be used to support
exhibits, programs and operations in the gallery.
EXHIBITS:
1. Resolution No. 99 / 13 3
gallery.
acknowledging donation and approving naming of the
2. Letter of agreement between Mrs. Cannon and the Friends of the Library.
RESOLUTION NO. 99-137
A RESOLUTION OF THE CITY OF CARLSBAD, CALIFORNIA,
ACKNOWLEDGMENT OF A DONATION TO THE FRIENDS
OF THE CARLSBAD LIBRARY FROM MRS. WILLIAM D.
CANNON AND APPROVAL OF NAMING THE NEW LIBRARY
GALLERY I MEMORY OF WILLIAM D. CANNON
WHEREAS, Mrs. Cannon wishes to donate $250,000 to the Friends of the
Carlsbad Library to support exhibits, programs and operations in the gallery; and
WHEREAS, Mrs. Cannon wishes to have the gallery named “The William
D. Cannon Art Gallery”, in memory of her late husband; and
WHEREAS, the City Council hereby wishes to designate the gallery in the
new library as “The William D. Cannon Art Gallery”;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Carlsbad, California,
I. That the above recitations are true and correct.
2. That the City Council designates the new library gallery as “The William
D. Cannon Art Gallery.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council of the City of Carlsbad, California, at a regular meeting held on the 20 th
day Of April , 1999, by the following vote, to wit:
AYES: Council Members Lewis,
NOES: None
ABSENT: Council Member Ku1
Finnila & Hall
ATTEST:
(SEAL) &&A 2s
ALETHA L. RAUTENKRANZ, C!ty Clerk
*Friends of2e Carlsbad Gjraty
March 18, 1999
Mrs. Teresa M. Cannon
P.O. Box 401
Vista CA 92083
Re: Donation to the Carlsbad City Library Art Gallery
Dear Mrs. Cannon:
Thank you for your most generous offer of February 11, 1999, of a $250,000 gift
to the Friends of the Carlsbad Library in memory of your husband, William D. Cannon.
These monies will be used to establish an endowment to support the activities and
programs of the Art Gallery, including the underwriting of exhibitions and educational
programs. In addition, one annual exhibition will be specifically acknowledged as being
sponsored by the generous gift given in memory of your husband.
In response to your gift, a formal request will be made to the Carlsbad City
Council approving the naming of the Art Gallery as the “William D. Cannon Art
Gallery.” I anticipate that this request will be heard at their meeting of April 6th, or
April 13, 1999. At the time of their approval, the initial gift of $100,000 will be due.
The $150,000 balance will then be payable in not more than six (6) $25,000 yearly
installments. Naturally, if you are able to accelerate the yearly gifts that will be
sincerely appreciated.
Due to the installment nature of the balance of your gift, it is requested that you
acknowledge that if at the time of your death, any of the pledge remains unpaid, that it
will then be paid in full from your Estate.
Please sign a copy of this !e?ttr aig+fyiag ‘J ‘our wderst;lndin~ and acccpwre of
these terms, and return it to me in the enclosed envelope. Please keep the copy for
your records.
Sincerely, - L-
on, President
Gii.if@n. Lz.Ah+w
Teresa M. Cannon
L&+2 /! /VP
Date
1 250 Carlsbad Village Drive l Carlsbad, California 92008 l (760) 434-2870 l FAX (760) 729-20.50
3