[Lnc-business] Mail Ballot on HQ purchase

[Daniel Wiener]

Ruth, the wording you put out is from an earlier draft.  The final version
of the motion which we will be voting on is as follows:

*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:*

*
*

   - *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.*

Daniel Wiener

-------------------------------------

On Fri, Nov 23, 2012 at 7:16 PM, Ruth Bennett <bennettruthaz at gmail.com>wrote:

> 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
>
>
>
>
>
>
>
> _______________________________________________
> Lnc-business mailing list
> Lnc-business at hq.lp.org
> http://hq.lp.org/mailman/listinfo/lnc-business_hq.lp.org
>
>
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