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Council approves library foundation MOU and authorizes separate LGIP account for donations
Summary
The council accepted a Memorandum of Understanding with the South Wasco County Library Foundation clarifying handling of donations for the library's portion of City Hall debt service and authorized Recorder Wolfe to open a separate LGIP account to hold those funds and track interest.
City Recorder Christine Wolfe reported the South Wasco County Library (SWCL) Foundation requested clarity on how donations earmarked for the library's share of City Hall debt service would be handled, especially in light of potential staff changes. Wolfe and City Attorney Ruben Cleaveland recommended creating a separate account within the Local Government Investment Pool (LGIP) to hold donated funds and track interest over the next five years.
Councilor Randy Bechtol moved to accept the SWCL Foundation MOU and then moved to authorize Recorder Wolfe to open the LGIP account for the Foundation's donations; Councilor Matthias Kesler seconded both motions and each passed unanimously, 6-0. The motions instruct the recorder to segregate donated funds, track interest, and maintain transparency in reporting.
