Re: $5 million windfall

["Lois Melina" <lmelina@moscow.com>]

If we invested the entire $5 million and received interest annually, would
we be able to secure a loan for a capital project (of less than $5 million)
and pay it back with the annual interest, thus having our cake and eating
it too?

Lois 
----------
> From: bill london <bill_london@hotmail.com>
> To: mrmurray@looksmart.com; psalant@moscow.com
> Cc: vision2020@moscow.com
> Subject: Re: $5 million windfall
> Date: Thursday, March 23, 2000 8:35 PM
> 
> How about spending half and creating an endowment with the other half?
> Spend half of the $5million on identified projects, and invest the other 
> half to endow a youth recreation fund.  The endowment of a $2.5million 
> should create annual interest of at least 5% or at least $125,000
available 
> annually for use by the city.
> Youth recreation will change in the future.  It seems like creating a
fund 
> to spend $125,000 annually forever would allow the future generations of 
> youth to have their needs met.
> BL
> 
> >From: John Murray <mrmurray@looksmart.com>
> >To: psalant@moscow.com
> >CC: vision2020@moscow.com
> >Subject: Re: $5 million windfall
> >Date: 22 Mar 2000 16:54:22 -0800
> >
> >On Wed, 22 March 2000, "Priscilla Salant" wrote:
> >
> > >
> > > Visionaries,
> > >
> > > I'm interested in your opinion.
> >
> >A recreation master plan with a series of public hearings.  The master
plan 
> >would cover a period of, say, 15 years, with review and revision after
that 
> >time.  The process would be facilitated by use of an ad hoc or appointed

> >committee which would have a drop dead date to formulate the plan.  A 
> >survey would be appropriate.
> >
> >The plan would be incorporated into the city's comprehensive plan and
any 
> >changes to the plan would require both Planning Commission and City
Council 
> >approval.
> >
> >While this is happening, the city puts the money into a separate fund
with 
> >stipulations that the interest and principle aren't to be touched until
the 
> >plan is finalized.  The city gets to put only the interest in their
general 
> >fund, and only after the plan is finalized (it's motivation to finish
the 
> >plan on time).
> >
> >I think the yearly Rendezvous concerts could be expanded and refined. 
They 
> >might provide revenue to put back into the fund.
> >jm
> >
> >
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