Albion Senior Citizen’s Trust
Purpose: To manage funds generated through the operation of the Maple Grove Apartments.
Established: On October 28, 1996, by Resolution 96-52, the City (Grantor) entered into a contract of trust to manage the money which was surplus from the Albion Building Authority’s operation of Maple Grove Apartments. There is no provision for residency and no provision for amendment by the Grantor. The first priority of the trust is to defease the Albion Building Authority bonds. The surplus sums are in general available for council-requested municipal projects.
Membership: Three Trustees. The Trust’s Board appoints replacement trustees.
Term: Five years
Members, Position, Appointed, Expires
Jan Lazar, Previous Interim City Manager, 06/28/1999, 6/30/2004
Ann Petredean Rosenbaum, Calhoun County Treasurer, 12/01/1998, 6/30/2005
Charles Robison, City Attorney, 08/07/2001, 6/30/2006
Source: City of Albion, 2001.