[Lnc-business] Mail Ballot on HQ purchase

[Ruth Bennett]

Daniel Wiener moves the following:


*Motion to approve the purchase of an office in the greater Washington,
D.C. area contingent on the following conditions:*

   - *A minimum of 33% of the purchase price plus build-out shall be raised
   from dedicated contributions.  If a portion of that is in the form of
   pledges, the pledges must be converted to cash before a purchase contract
   and loan agreement are finalized.*
   - *Any loan must be based on a minimum of a 30% down payment and a loan
   with options extending for a minimum of 10 years before a final balloon
   payment becomes due.*
   - *The most recent financial statement reported unrestricted general
   fund balance must exceed $167,000 before a purchase contract and loan
   agreement are finalized.*
   - *A 2/3 majority of the LNC must approve the specific terms of the
   purchase contract and loan agreement on an up-or-down vote.*
   - *Additional payments towards the principal loan balance of at least
   $60,000 per year above the minimum loan requirement must be made, with this
   requirement structured in such a way that future LNC bodies cannot easily
   circumvent it.  These payments shall be in the form of an additional
   $5,000 per month paid out of the general fund, but reimbursable from
   dedicated building fund contributions.*

Co-sponsored by Vicki Kirkland, Michael Cloud and Ruth Bennett

*Please respond directly to this email*.  Voting is open until DEC 3, 2012
at 11:15 PM EST.

Thank you!

Ruth E. Bennett, LNC Secretary
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