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Bootham Crescent Loan Notes 2004 Issue
Bootham Crescent Loan Notes 2004 Issue

Help get back The Crescent

Following last weeks announcement, the Trust is launching a scheme for supporters and friends of York City to contribute towards buying back Bootham Crescent.  Supporters will be able to specifically contribute via the Bootham Crescent Loan Notes 2004 Issue.


Trust Chairman Richard Snowball commented This is a historic opportunity for supporters and friends to contribute towards Bootham Crescent being reunited with York City Football Club.


Recognising that amongst Citys fans there are people who have already dug deep for Citys cause over the past couple of years, Snowball commented A substantial hardcore of City fans have continued to display an enormous passion and commitment for their Club and hopefully, given the historic opportunity presented, financial contributions will also be forthcoming from the wider supporter base and the business community.


The Bootham Crescent Loan Notes 2004 Issue is similar to the scheme launched in March 2003, which contributed over 175,000 towards the Trusts 1/2 million fundraising to complete the Rescue Package to Save City.  Now, fifteen months later, the Trust is seeking to raise some monies to help buy back the ownership of Bootham Crescent for the benefit of York City.


The formal Loan Note Instrument sets out the details of the scheme such as the loan notes are non-interest bearing, are non-transferable and will only become repayable/redeemable in very limited circumstances.  It is highlighted that whatever monies people or businesses choose to contribute is akin to a donation to the Trust for the specified purpose.  The Loan Note Instrument and application forms are available via www.ycst.org.uk or direct from the Club - see links below.


Apply on line (debit & credit cards)  www.ycst.org.uk/bc_loan_note


Print an application form  www.ycst.org.uk/bc_loan_note/loan_note_form_2004.pdf


Copy of the Loan Note Instrument (the legal doc)  www.ycst.org.uk/bc_loan_note/loan_note_instrument_2004.pdf


 


Loan Notes will be issued in denominations of 100.  So the minimum contribution is 100, then in multiples of 100 upwards.  All contributors will receive a souvenir Bootham Crescent Loan Note certificate and will be specially acknowledged in the match programme next season.  Supporters or Businesses contributing 1,000 or more will gain Friend of York City status providing them with the following initial benefits


l                    Souvenir Bootham Crescent Loan Note certificate;


l                    Name printed in a Roll of Honour in each match programme during the 2004/05 season;


l                    A day at the Club, including guided tour of Bootham Crescent, lunch with the Chairman and see the players train; and


l                    Invitation to Noteholder (plus guest) to attend a match at Bootham Crescent as guests of the directors of the Club during the 2004/05 season.


As revealed last week, the aggregate amount payable by the Club to complete the arrangements to gain ownership of Bootham Crescent of approximately 2.1 million is greater than the 2 million loan from the Football Stadia Improvement Fund.  That is why, by 23 July, the Trust is seeking to raise new funds to provide money to the Club to meet this shortfall.


Citys Chairman and Trust Board member Steve Beck commented The Trusts loan note scheme provides the opportunity for people to contribute towards what so many have wanted over the past two-and-a-half years for the Club to have the long term security of a decent home in the city.


 


Note: The loan note scheme being used is as recommended by the Trusts legal advisers and similar schemes have been used by other trusts.  Notwithstanding the practical issues that prevent share ownership of Bootham Crescent being offered, the necessary legal and administrative burden are additional reasons why the Trust or the Club will not be making a public offer of shares.

 
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