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File #: 14-0985    Version:
Type: Agenda Item Status: Approved
File created: 7/9/2014 In control: Board of Supervisors
On agenda: 10/21/2014 Final action: 10/21/2014
Title: County Counsel recommending the Board notify the Trustee of the Ramona L. Gilmore Revocable Trust to proceed to sale and liquidation of all residuary trust property and deliver the proceeds to El Dorado County. FUNDING: Donation.
Attachments: 1. A - Certificate of Acceptance 7-22-14, 2. B - Trust 7-22-14, 3. C - Amd to Trust 7-22-14, 4. Executed COA of Beneficial Interest 7-22-14 item 10.pdf
Title
County Counsel recommending the Board notify the Trustee of the Ramona L. Gilmore Revocable Trust to proceed to sale and liquidation of all residuary trust property and deliver the proceeds to El Dorado County.
 
FUNDING:  Donation.
Body
Fiscal Impact/Change to Net County Cost
This action has no impact on Net County Cost.
 
Reason for Recommendation  
The Ramona L. Gilmore Trust, established by Ramona L. Gilmore, deceased, by Declaration of Trust on October 18, 1989, as amended on February 8, 2008, directed that the rest, residue and remainder of the trust estate shall be distributed to El Dorado County, California for the specific purposes of planning, building, maintenance and/or administration of a senior center contemplated for El Dorado Hills, California. This action was not directly undertaken due to the adverse housing market trends, however, conditions are now satisfactory for preservation of the testator's intent.
 
This action by the Board of Supervisors is intended to exercise the beneficial interests in the trust properties as of the date of Ramona L. Gilmore's death, April 16, 2008 in order to fulfill the purpose of the Ramona L. Gilmore Revocable Trust. (Acceptance of the offer of $125,000 from the Ramona L. Gilmore Trust by Board action on January 7, 2014. Acceptance of the beneficial interest in the Ramona L. Gilmore Trust, effective April 16, 2008, by Board action on July 22, 2014.).
 
Clerk of the Board Follow Up Actions
Upon formal acceptance, the trust properties will be subject to property tax exemption, as of April 16, 2008, for real property owned by public entities.
 
Contact
Abigail L. Roseman