Item C26 C.26
i�`
County of Monroe
�y,4 ' ?, "tr, BOARD OF COUNTY COMMISSIONERS
Mayor Michelle Coldiron,District 2
�1 nff `_ll Mayor Pro Tem David Rice,District 4
-Ile Florida.Keys Craig Cates,District 1
Eddie Martinez,District 3
w Mike Forster,District 5
County Commission Meeting
June 16, 2021
Agenda Item Number: C.26
Agenda Item Summary #3369
BULK ITEM: Yes DEPARTMENT: Public Libraries
TIME APPROXIMATE: STAFF CONTACT: Kimberly Matthews (305) 292-4540
N/A
AGENDA ITEM WORDING: Approval to accept $150,000 as a partial distribution of funds
allocated to the Monroe County Public Library in the Stephen J Smatlak Living Trust, and approval
for the County Administrator to sign all related documents to accept the gift.
ITEM BACKGROUND: The Monroe County Public Library was notified that it was named as a
beneficiary of the Stephen J. Smatlak Living Trust. Under paragraph 7.2 of the Trust, the Trustee is
directed to distribute 5% of the Trust to the Monroe County Public Library. The Burner Law Group
is prepared to make a partial distribution in the amount of $150,000. They have presented a
"Receipt and Refunding Agreement" which needs to be approved by the County to accept the gift.
We are seeking approval for the County Administrator to sign the current document and all other
related documents in order to accept the funds on behalf of the Monroe County Public Library.
PREVIOUS RELEVANT BOCC ACTION:
NONE
CONTRACT/AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
Smatlak Trust 2020 Legal stamp
Smatlak Trust Agreement
FINANCIAL IMPACT:
Effective Date: N/A
Expiration Date:
Packet Pg.810
C.26
Total Dollar Value of Contract: N/A
Total Cost to County: N/A
Current Year Portion:
Budgeted:
Source of Funds:
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: N/A If yes, amount:
Grant:
County Match:
Insurance Required: NA
Additional Details: $2,000 has been bequeathed to the Key West Library
N/A
REVIEWED BY:
Norma Kula Skipped 06/02/2021 2:45 PM
Kimberly Matthews Completed 06/02/2021 3:22 PM
Pedro Mercado Completed 06/02/2021 4:36 PM
Purchasing Completed 06/02/2021 4:39 PM
Budget and Finance Completed 06/03/2021 8:59 AM
Maria Slavik Completed 06/03/2021 11:46 AM
Liz Yongue Completed 06/03/2021 12:02 PM
Board of County Commissioners Pending 06/16/2021 9:00 AM
Packet Pg.811
C.26.a
12 Research Way
BuENER East Set%ket,NY 117M
LAW GROUP PC. (631)941-34.34
82 Main Street
Westhampton Beach,NY 11978
(631)288-5612
45 West 34th Street,Suite#1203,
New Yok,NY 10001
(212)867-W2D
Fax:(631)941-34.43 2
April 7, 2021 burnertaw.com
Monroe County Public Library
700 Fleming Street
Key West, FL 33040
r-
0
RE: Stephen J. Smatlak Livin Trust o
0
Dear Sir or Madam:
rr
ca
We represent Richard E. Borner, Trustee of the Stephen J. Smatlak Living Trust. He is
prepared to make a partial distribution to your organization of its residuary interest in the Trust.
In connection with the proposed distribution,enclosed are two execution copies of a U)
proposed Receipt and Refunding Agreement(the"Agreement"). Please review the documents and,
if they meet with your approval, have an authorized officer sign each on page 3, affix your
organization's seal and fill in your taxpayer identification number on the same page. Each
document is then to be notarized on the following page. The Notary Public should fill in the date
and county in which the document is notarized in the space provided, sign his/her name and affix 0.
his/her stamp thereto.
Please return one executed Agreement to this office in the envelope provided. The
additional Agreement is for your records.
cv
A check in payment of your distribution will be mailed to you promptly after receipt of the
executed document from you. 2
If you have any questions, please do not hesitate to call me.
V ruly Y s;
GRB:pak Gina Raio Bitsimis
Enclosures
BURNER.LAW GROUP, P.C.
.-ul.v 230 Disetosdre\a.Co: To unsure ecm ance vei%h 7reasur;Dept rules goverrang tax prance,we rs,um yc�that arty=adorn cniait a ®.r m
` ^ p� '' � �herein(ru°fudiny it arr;attachn•en!.l
11,kas not titirsiten any is not irterdedJlo be used,and cannot br used,for tie purposes of WOOIng any fe.+seral tax pana;ty that may be lrnaowc On thrx tapayer,and;Ij may not b8
d4ed in conne-tbn Ynth prpmotrttg,marketin,or re-commen,:fnQ to anorier person any,ran"a3':`tian or rnatter add'esse J heren
Packet Pg.812
C.26.a
STATE OF NEW YORK
SURROGATE'S COURT: COUNTY OF SUFFOLK
------------------------------------------------------------------------X
In the Matter of the Account of Proceedings of RICHARD RECEIPT, RELEASE AND
E.BORNER, as Continuing Trustee of the Trust Created by : REFUNDING AGREEMENT
STEP IEN J. SMATLAK under a'Trust Agreement dated File No.
May 12, 1995, as Amended.
------------------------------------------------------------------------X
0
WHEREAS, by a Trust Agreement dated May 12, 1995, as amended and restated by an
instrument dated October 1, 2015 (collectively, the ""Trust Agreement") between STEPHEN J. o
SMATLAK,as Grantor(the"Grantor")and STEPHEN J. SMATLAK and RICHARD E. BORNER, rr
W
ca
as Trustees, the Grantor created the Stephen J. Smatlak Living Trust(the"Trust");
WHEREAS, a copy of the Trust Agreement is attached hereto as Exhibit "A";
WHEREAS STEPHEN J. SMATLAK, the Grantor and a Trustee of the Trust, died on July a
15, 2020;
0.
WHEREAS,RICI IARD E.BORNER,as surviving Trustee,continues to administer the Trust
(the"Continuing Trustee"):
WHEREAS, the Continuing Trustee has decided to make a partial distribution of 'Three N
N
Million (S3,000,000.00) Dollars in proportionate shares to the six (6) remainder beneficiaries of the
2
Trust;
WHEREAS, in accordance therewith, the Continuing Trustee is desirous of making a partial
distribution of$150,000.00 to the MONROE COUNTY PUBLIC LIBRARY; and
Packet Pg.813
-00
C.26.a
WHEREAS, the undersigned, on behalf of the MONROE COUNTY PUBLIC LIBRARY,
desires to receive such distribution at this time.
4` NOW,THEREFORE:
1. The undersigned,on behalf of the MONROE COUNTY PUBLIC LIBRARY,
4
represents that it has not heretofore assigned, conveyed, hypothecated or otherwise encumbered or
€; alienated its interest in the Trust. P
0
6, 2. The undersigned,on behalf of the MONROE COUNTY PUBLIC LIBRARY, o
hereby acknowledges receipt of the sum of One Hundred Fifty Thousand Dollars($150,000.00) from
rr
the Continuing "trustee in partial satisfaction of its interest in the "!'rust. �
�c 3. The undersigned,on behalf of the MONROE,COUNTY PUBLIC LIBRARY,
r
' hereby for its successors and assigns acquits, releases and discharges said Continuing Trustee,
individually and as Trustee of the Trust, and his agents, heirs, successors and assigns, of and from
any and all claims, dues and demands and from all further liability and responsibility to the E
MONROE COUNTY PUBLIC LIBRARY with regard to the aforementioned payment on account. 76
4. In consideration for such distribution and the making thereof prior to the
N
conclusion of the administration of the Trust,the undersigned,on behalf of the MONROE COUNTY N
PUBLIC LIBRARY, agrees that in the event and to the extent that the Continuing Trustee may
determine in his sole discretion that there has been an excess distribution to the MONROE COUNTY
PUBLIC LIBRARY, whether by reason of claims against the Grantor, his estate and/or the Trust,
debts of the Grantor, taxes, other expenses or for any other reason whatsoever, within Thirty days
2
Packet Pg.814
C.26.a
F
7 ' after being notified by the Continuing Trustee of the amount of such claimed excess, it will promptly
r ' refund such claimed excess to the Continuing Trustee.
5. The undersigned,on behalf of the MONROE COUNTY PUBLIC LIBRARY,
also agrees that, in the event that it fails to refund the entire amount of such claimed excess before
0
the expiration of such Thirty-day period, it will reimburse the Continuing Trustee for all expenses
which the Continuing Trustee may reasonably incur in connection with the enforcement of the
0
provisions of this Agreement, including, without limitation, legal fees and disbursements. y
IN WITNESS WHEREOF, the undersigned has caused this document to be executed on r
ca
behalf of the MONROE COUNTY PUBLIC LIBRARY on the day of
2021.
MONROE COUNTY PUBLIC LIBRARY
Title:
Taxpayer Identification
No.
N
N
s _ �
COU I, ¢.
P ED� E
PEDRO .MERCADO
ASSISTANT WTY
3
Packet Pg.815
C.26.a
t
ACKNOWLEDGEMENT
STATE Or FLORIDA } 2
B
ss..
COUNTY OF ) � ,ear
CL
On the day of in the year 2021, before me, the undersigned, a
Notary Public in and for said state,personally appeared ,personally known
to me or proved to me on the basis of satisfactory evidence to be the individual whose name is o
subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her
capacity as a of the MONROE COUNTY PUBLIC LIBRARY,and that by his/hez , , , m
signature on the instrument, the individual, or the person upon behalf of which the individual acted;:::•:
executed the instrument.
Notary Public ,:,•, ,
0.
76
CD
CD
4
Packet Pg.816