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Trust distribution to library endowment placed on consent agenda and approved
Summary
Trustees approved a consent agenda that includes placing a distribution from the Louis Riggs Unit Trust into the Appleton Library Endowment Fund; staff said the trust is a single distribution that will close on completion and that the Friends and community foundation reviewed the memo.
Trustees at the Appleton Public Library meeting voted to approve the consent agenda, which staff said will direct a forthcoming distribution from the Louis Riggs Unit Trust into the Appleton Library Endowment Fund.
The board’s chair moved the consent agenda and it was seconded and approved by voice vote. Board materials noted the trust is administered by Johnson Bank and that the proposed action would place the distribution into the library’s primary endowment, which supplies a portion of the library’s annual grant-funded…
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