[Lnc-business] Revised motion

[Vicki Kirkland]

I vote Yes as well.
Vicki Kirkland
Region 2 Rwp LNC



On Sat, Nov 24, 2012 at 10:52 AM, Daniel Wiener <wiener at alum.mit.edu> wrote:

> 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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