DESI ARNAZ SR. - PRINTED DOCUMENT SIGNED IN INK 07/09/1953 CO-SIGNED BY: MARTIN N. LEEDS, ANDREW G. HICKOX - HFSID 287874

DESILU PRODUCTIONS: DESI ARNAZ and OTHERS
The is authorized to borrow up to $50,000, shortly before building its own studio.
Document signed: "Desi Arnaz" as Corporation President, "Martin N. Leeds" as Vice President, "Andrew G. Hickox" as Secretary-Treasurer, 1 page, 8½x11. Hollywood, California, 1953 July 9. In this document, titled Corporate Resolution to Borrow, the three executive officers of the Desilu Corporation attest that a meeting of the Board of Directors has authorized it to borrow up to $50,000 from the Bank of America and to provide necessary security for such loans. The authorization is valid until rescinded by written notice by the Board. Desilu Productions was founded in 1950, named for the ranch owned by film stars Lucille Ball and Desi Arnaz in Chatsworth, California. Ball and Arnaz, then a married couple, intended to finance their own live show to convince the TV networks that the viewing public would accept Cuban orchestra leader Arnaz as the husband of Ball, already a star of B-movies and of the radio series My Favorite Husband. Their show came to the air as I Love Lucy, one of the most popular TV series of all times. I Love Lucy was filmed with state of the art production values before a live audience, with the copies purchased cheaply by Desilu, which understood the value of syndication rights before CBS did. Desilu produced many other TV hits, including Star Trek, The Untouchables, Mission Impossible, The Andy Griffith Show, The Dick Van Dyke Show, My Three Sons, The Real McCoys and Wyatt Earp. By the date of this document, Desilu had outgrown its initial space, and was preparing to move into a studio of its own, the Motion Picture Center, in 1954. With its early success, Desilu needed the ability to borrow to continue its expansion. Fifty thousand dollars in 1953 equal slightly over $400,000 in 2010. I Love Lucy ran as original programs from 1951 to 1957, and in re-runs forever. When Desi and Lucy divorced in 1960, they divided the company's assets, and Arnaz sold his share to Ball for $3 million. The company was purchased by Gulf & Western in 1967, and renamed Paramount Television. DESI ARNAZ (1917-1986, born Desiderio Alberto Arnaz y De Acha III in Santiago, Cuba), was a Cuban band leader before starring as Ricky Ricardo on I Love Lucy. He managed the production side of Desilu, while Ball contributed her shrewd insight into the tastes of TV audiences. MARTIN N. LEEDS, the Executive Vice President of Desilu, later joined CBS. In 1993, he published Desilu: The Story of Lucille Ball and Desi Arnaz. ANDREW G. HICKOX, Lucille Ball's agent, focused on Desilu's finances. Toned around edges. Top edge frayed. Filing holes at left edge. Corners lightly creased. Multiple mailing folds. Otherwise, fine condition.