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Health Commission directs sale of Laguna Honda gift-fund stocks; commissioners require monitoring of proceeds
Summary
The San Francisco Health Commission voted to direct the City Treasurer to sell stocks donated to the Laguna Honda resident gift fund and deposit the proceeds into the resident fund for patient benefit. Public commenters urged disclosure, ethical screening of holdings and safeguards on how proceeds are used.
The San Francisco Health Commission voted to direct the City Treasurer to sell stocks held in the Laguna Honda Hospital resident gift fund and deposit the proceeds into that resident fund for use on behalf of patients.
CFO Greg Wagner outlined the proposal and said the Treasurer's office recommended target minimum sale prices below which staff would not execute transactions. Wagner told commissioners the expected proceeds would be "a little over a million dollars,"…
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