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:<br><br><p style="margin-left:40px" class="MsoNormal"><b>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:</b></p><p style="margin-left:40px" class="MsoNormal"><b><br></b></p>
<ul style="margin-top:0in;margin-left:40px" type="disc"><li class="MsoNormal"><b>A minimum of $400,000 shall be raised
from dedicated contributions.<span> </span>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.</b></li><li class="MsoNormal"><b>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.</b></li><li class="MsoNormal"><b>The most recent financial statement
reported unrestricted general fund balance must exceed $167,000 before a
purchase contract and loan agreement are finalized.</b></li><li class="MsoNormal"><b>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.<span> </span>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.</b></li></ul>
<p style="margin-left:40px" class="MsoNormal"><b><br></b></p><p style="margin-left:40px" class="MsoNormal"><b>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.</b></p><br>Daniel Wiener<br><br>-------------------------------------<br><br><div class="gmail_quote">On Fri, Nov 23, 2012 at 7:16 PM, Ruth Bennett <span dir="ltr"><<a href="mailto:bennettruthaz@gmail.com" target="_blank">bennettruthaz@gmail.com</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">Daniel Wiener moves the following:<br><br><p class="MsoNormal"><br></p>
<p class="MsoNormal"><b>Motion to approve the purchase of an office in the greater Washington,
D.C. area contingent on the following
conditions:</b></p>
<ul style="margin-top:0in" type="disc"><li class="MsoNormal"><b>A
minimum of 33% of the purchase price plus build-out shall be raised from
dedicated contributions.<span> </span>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.</b></li><li class="MsoNormal"><b>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.</b></li><li class="MsoNormal"><b>The most
recent financial statement reported unrestricted general fund balance must
exceed $167,000 before a purchase contract and loan agreement are
finalized.</b></li><li class="MsoNormal"><b>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.</b></li><li class="MsoNormal"><b>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.<span> </span>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.</b></li></ul><p></p><p>Co-sponsored by Vicki Kirkland, Michael Cloud and Ruth Bennett</p><p></p><p><b>Please respond directly to <u>this</u> email</b>. Voting is open until DEC 3, 2012 at 11:15 PM EST.</p>
<p>Thank you!</p><p>Ruth E. Bennett, LNC Secretary<br></p><p><br></p><p><br></p><p><br></p><p><br></p><br>
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