[Lnc-business] Revised motion

[Daniel Wiener]

I vote Yes on the motion with the corrected wording as shown below in red
bold italics.

Daniel Wiener
Representative from Region 4/California

On Fri, Nov 23, 2012 at 8:21 PM, Daniel Wiener <wiener at alum.mit.edu> wrote:

> The motion shown below is still missing the final paragraph, which reads:
>
> *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.*
>
> Therefore, the entire motion 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 8:01 PM, Ruth Bennett <bennettruthaz at gmail.com>wrote:
>
>> Mr. Wiener informs me that I previously sent out an early draft and the
>> motion should read 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.*
>>
>>  As before, co-sponsors are Vicki Kirkland, Michael Cloud and Ruth Bennett
>>
>>  Ruth
>>
>> _______________________________________________
>> 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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