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Ripley consents to terminate WGL Rice Park Trust; assets move to Rice Park Corporation
Summary
The Ripley board heard presentation of a court consent judgment terminating the WGL Rice Park Trust and transferring park assets to the Rice Park Corporation, which leaders said will enable future grant applications and a 501(c)(3) governance structure.
Mayor Fitzhugh presented a consent judgment approving termination of the WGL Rice Park Trust and transferring the trust’s assets to the Rice Park Corporation, city officials said at the Ripley Board of Aldermen meeting on Oct. 6.
The transfer, as described by Rice Park Corporation president Marcus Keeley, moves property, bank funds and equipment previously held by the trust into the corporation’s ownership and will allow the parks to pursue grants and operate under a 501(c)(3) committee structure. “On behalf of myself and the Rice Park Corporation … we want to extend our…
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