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Estate Willed City Totals $1,940,368

Estate Willed City Totals $1,940,368 image
Parent Issue
Day
13
Month
July
Year
1965
Copyright
Copyright Protected
Rights Held By
Donated by the Ann Arbor News. © The Ann Arbor News.
OCR Text

The estáte of the late Elizabeth R. Dean, willed the city for the care and planting of trees, totals $1,940,368, the City Council was informed last night. This amount is the final account of the executor approved by the Washtenaw County Probate Court. The will specifies that the city may use only interest from the funds for trees. City Attorney Jacob F. Fahrner Jr. said this will amount to approximately $76,000 yearly. The interest will be paid the city twice yearly, in May and November. To date, the city has received $46,134. The National Bank and Trust Co. of Ann Arbor is executor of Ithe estáte. Fahrner told the council he will contact Probate Court in the near future to determine specifically what the funds may be used for. "Naturally, we wish to have as broad an interpretation of these words (the terms of the will), and, consequently, as much flexibil-J jity as possible consistent withl them," Fahrner said.v