03-31-1987 Resolution
RESOLUTION ADOPTED BY THE BOARD OF DIRECTORS
OF GREATER DOWNTOWN SALINA, INC. MARCH 31, 1987
WHEREFORE, the membership of Greater Downtown Salina, Inc.,
at its annual meeting conducted in late January, 1987, discussed
and considered a proposal to consolidate the development., promo-
tional, and marketing activities conducted on behalf of the
central business district of the city of Salina by various
organizations, including Greater Downtown Salina, Inc., Salina
city Center, Inc., and the Business Improvement Distric1: No.1
Board of Advisors; and,
WHEREFORE, such consolidation of activity is required in
order to cause the city of Salina to subsidize the operating
budget for such activity; and
WHEREFORE, the membership of Greater Downtown Salina, Inc.,
at said meeting, expressed a consensus supporting consolidation
even though no formal motion and vote thereon was made and taken.
BE IT THEREFORE RESOLVED, that the Board of Directors of
Greater Downtown Salina, Inc., at a lawfully convened meeting
conducted at 8:00 a.m. on the morning of Tuesday, March 31, 1987,
does hereby determine that it is in the best interest of the
corporation and its members to cause the corporation to discon-
tinue all business and activity, to henceforth act only to wind
up its affairs, discharge all of its liabilities and obligations
and to pay and remit any resulting and remaining surplus of funds
unto Salina Downtown, Inc.
BE IT FURTHER RESOLVED, that the officers of the corporation
be, and they are hereby, authorized and directed to terminate all
business and activity of the corporation and to henceforth act on
behalf of the corporation only for the purpose of winding up its
affairs and further that the President and/or the Treasurer of
the corporation are authorized, in their discretion, to pay and
remit unto Salina Downtown, Inc. such monies as appear to the
said president and Treasurer of the corporation to not be required
to cause and permit Greater Downtown Salina, Inc. to meet any of
its lawful obligations.
BE IT FURTHER RESOLVED, that the Treasurer of the corpora-
tion be, and he is hereby, instructed to refrain from filing the
annual report of the corporation for the year which will end
December 31, 1987, with the office of the Secretary of State with
the intent and purpose of implementing the provisions of K.S.A.
17-7510 thereby causing forfeiture of the Articles of Incorpora-
tion on July 15, 1988.
BE IT FURTHER RESOLVED, that the officers of this corpora-
tion are authorized to employ temporary clerical assistance
purely for the purpose of causing the debts and obligations of
the corporation to be satisfied and to prepare and cause to be
submitted to members of the Board an accounting report and
financial statement specifying the discharge of all debts and
obligations of the corporation, of the expenses incurred thereby
and a report of the funds delivered to Salina Downtown, Inc.
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