Well said, Jay, and I also agree with all of your points.
As Fritz and Jay both pointed out, anything that accrues interest (and is fixin' to go up), as the Punkin/Deep loan is about to do, should be paid off. I also talked with Mike Walsh of the TCC and he stated the same thing to me as he did to Jay that they would refrain from accepting the funds, but are happy to work with TCMA in retiring the above loan. Personally, I'm happy for this current state of bliss in the Texas caving community and glad to see all of our horses are pulling in the same direction, for a change! BTW, the amount of money that we're talking about, and that I neglected to mention, comes to $8144.19. Good, positive discussions so far! Let's keep it that way. Mark Alman -----Original Message----- From: Jay Jorden [mailto:[email protected]] Sent: Wednesday, May 28, 2008 10:34 PM To: Kurt L. Menking; Texascavers Mailing List Cc: Fritz Holt; Alman, Mark @ IRP; John Brooks; Darla Bishop; Bisset, Rob Subject: Re: [Texascavers] RE: The TSA Needs Your Thoughts: TSA Land Fund Dispensation All, To address and clarify a few points on the inevitable but already lengthy thread on this subject (and wishing there'd been a bit more interest in the land fund before debate began on its dissolution): 1) TCC: ... doesn't want the proceeds of this particular fund. Please feel free to weigh in on this point, Mike. In a conversation before the motion's introduction at TSA's BOG in Kerrville, he had conveyed this message to me. Just FYI in case you didn't know, the two cave conservation groups in Texas have an ongoing dialogue and cooperate in a number of ways. One of these is that TCC has actively contributed each month for years toward paying off the note on Punkin-Deep. TCC is to be commended for this. I don't believe TCC currently has a bank loan it's struggling to pay off -- but if it ever did, perhaps the favor could be returned. The organization currently has its own worthy projects and fund-raising means. 2) TSS: ... under the land trust agreement's Section 8 that Joe cited earlier, cannot receive total funds/proceeds from a dissolution since it is technically not a cave conservation organization. To reinforce this point, an attorney who is one of the land fund trustees is clear that proceeds of trusts and/or funds with stated purposes -- if dissolved -- must be transferred to organizations with the same purposes. 3) TCMA: ... IMHO, paying off the note as early as possible on Punkin-Deep makes good sense. The interest rate is due to increase as early as next year; contributions will not go as far then. It's been pointed out in this thread that the property is accessible to all cavers. It will also be a pre- and post-convention attraction for cavers worldwide during next year's International Congress of Speleology. Although I am a director of TCMA, I did not consult with its board before meeting on this issue with the other land fund trustees. As a fund trustee, I abstained from the vote recommending the proposed action that TSA will consider in the fall. 4) TSA: ... the fate of the fund lies with the Board of Governors or, if it so decides, the membership by binding referendum -- but no other organization. The land fund is a creature of the TSA. Under the agreement creating the fund, TSA serves as the foundation. The document requires TSA to administer the money as a separate, identifiable fund. TSA oversees the fund's balance through its treasurer. 5) TSA per capita surcharge: ... IMHO, it's a really good idea to continue this practice, whether TSA has a land fund or not. Leveraging the fees can accomplish some great things. And with gas-fueled inflation being what is has been lately, maybe it's indeed time to consider raising it higher than $1 a head. Another decision for TSA. ... Jay --------------------------------------------------------------------- Visit our website: http://texascavers.com To unsubscribe, e-mail: [email protected] For additional commands, e-mail: [email protected]
