Laserfiche WebLink
19 <br />Regular Council Meeting <br />2/17/92 <br />Page Two <br />Mr. Hudacko said it was discussed last yeaz, what would they do if they had multiple <br />qualified winners they wanted to pay out to. He said there is $4,000 in the fund now <br />which is not collecting any interest. They would like to see it get to a point where it is self- <br />funding. <br />Mr. Rinker said he does not think it is anyones' intent to limit or curtail this fund. He said <br />apparendy the way this fund was structured, may be part of the culprit. It may be limiting <br />by rts own defuution and that this extra money could not be channeled direcdy into this <br />fund. It is the intention of Recreation to put it to some other uses that would be consistent <br />with the spirit of a Debbie Hudacko Memorial Fund. He said if you aze saying that is <br />unacceptable, he thinks if it could be done (he would defer to the Recreation Board and <br />Law Director) to look into some matter in which a trust could be set up. <br />Mr. Hudacko said the apparatus is already in place. The Law Director has the <br />documentation. <br />Mr. Rinker said he was suggesting that the money that has built up be used to be a nest egg <br />that you in turn can control (either jointly or with Recreation.) He said he is not sure if that <br />can be done but our feeling is if there is funding ability that you can be sure will carry on <br />the spirit that was inirially intended, he thinks they would all be for it. No one is trying to <br />curtail this or wants this to turn sour in any way. <br />Mr. Fixler said the original intent was to give two $500 scholarships out of the $1,000 <br />proceeds. It was discussed at the time but not written correctly that it could expand and that <br />the additional money would have gone into the Recreation fund. Mr. Fixler said as head of <br />Recreation last year, he noticed there was $4,000 in the fund. He approached Mayor <br />Camzen to see what could be done and he said nothing because that money was put into the <br />scholarship fund and that's it. Recreation is not tallang about touching that money. What <br />they are asking for is for races run prior to the changing the name to Debbie Hudacko run. <br />There is $4,000 is in there and they aze going to continue to put $1,000 a year toward the <br />scholarship, so there is no reason to think the fund will run out of money. Could <br />Recreation make use of the additional funds and make it more of a co-sponsorship race (the <br />Debbie Hudacko Memorial Run as well as the Mayfield Village Recreation Run.) T'hat was <br />the intent of what Recreation wanted, however, it was not written properly. They are <br />asldng if they can go back and rearrange something. It is not to minimize the scholarship <br />fund whatsoever. <br />Mr. Hudacko asked if the scholarship would never be more than two $500 grants. <br />Mr. Fixler said that is what it was meant to be. <br />Mr. Hudacko said this thing has taken off and gotten to be a nice money-maker and now <br />other people have other ideas how the monies should be used and where it should go. <br />Mr. Fixler said that was the year that they decided to change the name of the run, Elliot <br />decided to hire a professional promoter to run the run. The run would be as successful no <br />matter what name it was under. The Mayfield Village Recreation Department as a body <br />runs the run; hires the supervision to do this. They do not want to jeopardize the <br />scholarship fund but are asking that any addirional funds other than the $1,000 (for the two <br />$500 scholarships) be used for other projects. <br />ti