Denison library reports $200,000 bequest, endowment nearing $1 million; story walk at THF Park destroyed

Summary

Unidentified library staff told the board the estate of Barbara Lucille Maxwell bequeathed $200,000 to the Denison Public Library Endowment Fund with a roughly $50,000 final disbursement expected; staff also reported record attendance, upcoming events, a donated display case and the destruction of a story walk by suspected vehicle vandalism.

Unidentified Speaker, a member of the library staff, said the Denison Public Library received a $200,000 check from the estate of Barbara Lucille Maxwell and that the will divides the estate equally between the library endowment and the deceased woman’s church.

“The good news is that in her will, she said that her estate would be divided equally between the Denison Public Library Endowment Fund and her church,” Unidentified Speaker said, adding that Alvin Bailey, the executor, estimated a final disbursement of about $50,000 once probate finishes.

The library’s presenter said the principal in the endowment account is now “up around a million dollars” for that one account and noted a separate Charles Jones trust remains in a different account. Using a projected annual yield of 4–5 percent, the speaker described how the…

Denison library reports $200,000 bequest, endowment nearing $1 million; story walk at THF Park destroyed

Summary

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