[Lnc-business] Email Ballot on Purchasing an Office by Daniel Wiener

[Ruth Bennett]

Since there seems to be some confusion, let's try this again:

Daniel Wiener makes the following motion:


*Moved, that the LNC approve the purchase of an office in the greater
Washington, D.C. area, to be named in honor of David Nolan, contingent on
the following conditions:*

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   - *A minimum of $400,000 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 mortgage 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.*
   - *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.*

*This motion will constitute authority to incur a mortgage if the above
conditions are met and if this motion passes by the necessary two-thirds
vote as specified in the Libertarian Party’s Bylaws.*


This motion is co-sponsored by Vicki Kirkland, Michael Cloud and Ruth
Bennett


Voting is for 10 days so will end at 5AM EST on December 5, 2012.


Please respond directly to this email.


Thank you.


Ruth E. Bennett

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