HomeMy WebLinkAbout20152839.tiff RESOLUTION
RE: CREATION OF TWO TRUST FUNDS FOR THE WELD COUNTY BRIGHT FUTURES
PROGRAM
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, Weld County wishes to adopt a resolution creating the Weld County Bright
Futures Grant Trust Fund and the Weld County Bright Futures Tax Incentive Trust Fund
pursuant to SB 15-82 to provide funding for a workforce development program that provides
financial assistance to graduating high school students residing in Weld County; GED
recipients and honorably discharged veterans to pursue post secondary education and
training, and
WHEREAS, the Board of Weld County Commissioners, pursuant to SB 15-82, will
appropriate and earmark funds to be used to fund the Weld County Bright Futures Tax Incentive
Trust to pay property tax credits to donors contributing to the Weld County Bright Futures
program, and
WHEREAS, the Board of Weld County Commissioners wishes to create the Weld
County Bright Futures Grant Trust Fund to be used to receive donations for the sole purpose of
funding the student grants to be paid in accordance with the criteria established for the Weld
County Bright Futures grant program, and
WHEREAS, the Board of Weld County Commissioners, in the creation of the Weld
County Bright Futures Tax Incentive Trust, places restrictions on the funds placed in said trust
fund to insure the funds can only be used to fund the Weld County Bright Futures Tax Incentive
Trust to pay property tax credits to donors contributing to the Weld County Bright Futures
program, and cannot be used for any other county purposes, and
WHEREAS, the Board of Weld County Commissioners, in the creation of the Weld
County Bright Futures Grant Trust Fund, places restrictions on the funds contributed by donors
and placed in said trust fund to insure the funds can only be used to fund the Weld County
Bright Futures grant program, and cannot be used for any other county purposes, and
WHEREAS, the Director of Finance and Administration has informed the Board of Weld
County Commissioners that funds will be available to be transferred to the Weld County Bright
Futures Tax Incentive Trust during the 2016 county budget process, and
WHEREAS, the Board of Weld County Commissioners wishes to create the Weld
County Bright Futures Tax Incentive Trust, pursuant to SB 15-82, to provide funding for
workforce development program that provides financial assistance to graduating high school
students residing in Weld County; GED recipients and honorably discharged veterans to
pursue post secondary education and training.
Cfb Ci //8 2015-2839
AC0005
CREATION OF TWO TRUST FUNDS FOR THE WELD COUNTY BRIGHT FUTURES
PROGRAM
PAGE 2
NOW, THEREFORE, BE IT RESOLVED pursuant to the authority granted to the Board
of Weld County Commissioners, there shall be created and established the Weld County Bright
Futures Grant Trust Fund and the Weld County Bright Futures Tax Incentive Trust Fund.
BE IT FUTURE RESOLVED, the Board of Weld County Commissioners hereby places
restrictions on the Weld County Bright Futures Tax Incentive Trust Fund to direct that funds
placed in said trust fund can only be used to pay property tax credits to donors contributing to
the Weld County Bright Futures program to fund the Weld County Bright Futures grant program,
and cannot be used for any other county purposes.
BE IT FUTURE RESOLVED, the Board of Weld County Commissioners hereby places
restrictions on the Weld County Bright Futures Grant Trust Fund to direct that funds contributed
by donors and placed in said trust fund can only be used to fund the Weld County Bright
Futures grant program, and cannot be used for any other county purposes.
BE IT RESOLVED by the Board of Weld County Commissioners that the Weld County
Treasurer shall establish the Weld County Bright Futures Tax Incentive Trust Fund (Fund
Number 7017) on his books, and the trust fund shall be an interest earning trust fund.
BE IT RESOLVED by the Board of Weld County Commissioners that the Weld County
Treasurer shall establish the Bright Futures Weld County Grant Trust Fund (Fund Number
7018) on his books, and the trust fund shall be an interest earning trust fund.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 24th day of August, A.D., 2015.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: d.,40(44) �� 7
arbara Kirkmeyer, hair
Weld County Clerk o the Board I. EL
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B / • .• • � Zeeman, Pro�em
Dep ty Clerk to the Board �•, :� -��
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%r. - ate'. Conway•
APP AS . ®u N C� /
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y Attorney "XL(�
Steve Moreno
Date of signature: ___/.4Z/
2015-2839
AC0005
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