HomeMy WebLinkAboutOrdinance No. 275 - . . . � �:'��� '
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ORDINANCE NO. � �� � �
AN ORDINANCE PROVIDING FOR THE CONFIRMATION, ACCEPTANCE,
ANII ADOPTION OF A CERTAIN TRUST AGREEM�NT DATED DECEMBER
21, 1976, BY AND BETWEEN MARY LOUISE FITCH SOULE AND HUS-
BAND, HAROLD NI. SOULE AND THE CITY OF FRIENDSWOOD, TEXAS.
WHEREAS, Nlary Louise Fitch Soule and husband, Harold M, Sou1e
have heretofore conveyed to the City of Friendswood, Texas, a certain tract
of land to be used exclusively as a public park, a description of which is
contained in Exhibit A, attached hereto and in a11 things made a part here-
of; and
WHEREAS, Mary Louise Fitch Sou1e and husband, Harold M. Soule
desire to establish a trust fund with the City of I'riendswood, Texas, the
income produced therefrom to be used by the City to aid in the maintenance,
improvement and operation of such park; and
WHEREAS, the City of Friendswood, Texas, des.ires to accept and
ratify this trust; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL Ob, THE CITY OF FRIENDSWOOD,
STATE OF TEXAS:
Section 1, The facts and recitations set forth in the preamble of this
ordinance are hereby approved and adopted.
Section 2. That the certain trust agreement dated December 21, 1976
� between Mary Louise Fitch Soule, Harold M. Soi.tle and the City of Friendswood,
Texas, a copy of which is attached hereto as Exhibit A and in all things made
a part hereof, is hereby confirmed, accepted and fully adopted according to
its terms, conditions and provisions.
PASSED AND APPROVED on first reading, this tha�day of
,,� � , 19 7 7.
PASSED AN APPROVED on second reading, this the �� day of
������ , 1977,
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PASSED AND APPROVED on final reading, this the �,�L..�day of
����:��(/ , 19 7 7.
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'••. " Mayor
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� City Secretary
APPROVED AS TO FORM: .
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City Attorney
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THE STATE OF TEXAS �
COUNTY OF GALVESTON �
WHEREAS , MARY LOUISE FITCH SOULE and husband, HAROLD
M. SOULE , hereinafter styled Grantors , have heretofore conveyed
to the City of Friendswood, Texas , a municipal corporatian
existing under the laws of the State of Texas , hereinafter
styled Grantee , a certain tract or parcel of land to be used
exclusively as a park for the public use , except for necessary
drainage and street improvements , said tract of land being more
fully described in deed dated December 31 , 1975 , and being of
record in Vol. 2653 , Pages 647 thru 650 , inclusive , of the Deed
Records of Galveston County, Texas , reference to which is here
made for full metes and bounds description of said tract of
land; and
WHEREAS , Grantors now desire , because of their love
and affection for the Grantee , to establish a trust fund with
the Grantee to produce income to be used by Grantee in its
maintenance , improvement and operation of said park ;
NOW, THEREFORE , KNOW ALL MEN BY THESE PRESENTS : THAT
WE, the undersigned, Grantors , have this day delivered and paid
over to Grantee the sum of TEN THOUSAND ( $10 ,000 . 00) DOLLARS
cash , hereinafter styled trust estate , to be held, treated and
disposed of by Grantee as hereinafter provided:
l. No bond shall be required of Grantee .
2. Grantee shall have absolute control of and over
said trust estate and shall invest and reinvest the same in
such manner and at such times as to it shall seem wise and
prudent and with safety produce income therefrom.
3. The income produced by and from said trust estate
shall be used by Grantee from time to time as it accrues and
becomes available for the sole purpose of aiding in the mainten-
ance , improvement and operation of said park , it being understood
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by Grantors that said income will be insufficient to wholly
maintain, improve and operate said park, and that other funds
will be made available by Grantee to aid in the maintenance ,
improvement and operation of said park. �
3 . In the event such tract of land is not used as a
park or its use as a park is abandoned after being so used, or
in the event the income produced by and from said trust estate
is not used as herein provided , then in such an event or either
of them, this trust shall thereupon terminate and Grantee shall
without delay pay over and transfer said TEN THOUSAND ( $10 ,000 . 00 )
DOLLARS to the Church of the Good Shepherd of the Protestant
Episcopal Church in the Diocese of Texas , situated in the City
of Friendswood , Galveston County , Texas , or in the event said
church is not then in existence , said sum shall be paid over and
transferred to the Protestant Episcopal Church Council of the
Diocese of Texas , a non-profit corporation, organized and existing
under the laws of the State of Texas , and thereupon this trust
shall terminate.
4. Grantee by the acceptance of said trust estate
confirms and ratifies this trust agreement and accepts the
same according to its terms , conditions , and provisions , and which
acceptance shall also be evidenced by an ordinance confirming
the same , fuly and legally adopted by the City Council of the
City of Friendswood, Galveston County , Texas , in accordance with
the laws of the State of Texas and the Charter and ordinance
of the City of Friendswood, Galveston County , Texas .
WITNESS OUR HANDS , this���day of �Pe=���� , 19 76 .
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Mary ou itc Soule -
`�.�!-��{,����t�'� `�,�'T �i�-�� L���..
Harold M. Soule "
Before me , the undersigned authority , on this day personally
appeared Mary Louise Fitch Soule and Harold M. Soule , known to
me to be the persons whose names are subscribed to the foregoing
instrument, and acknowledged to me that they executed the same
for the purposes and consideration therein expressed.
Given under my hand and seal of o�.�ice thi���`day of,��-��,��.��, 1976 .
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Notary Public in and for alveston
County , Texas