Good Citizenship Award
THE GOOD CITIZENSHIP AWARD FUND
DRST(;NATRO MRMORANDnM
THIS MEMORANDUM is made this 17th day of March, 2003, by The City of Salina,
Salina, Kansas, as "The City", and the Greater Salina Community Foundation, Salina, Kansas, a
charitable organization described in Section 501(c)(3) of the Internal Revenue Code, as
"Foundation" .
WHEREAS, the City has transfered the principal sum of $19,548.64 to the Foundation in
the form of a charitable gift; and
WHEREAS, the City wishes to establish a designated fund entitled Good Citizenship
Award Fund (hereinafter referred to simply as the "Fund") to be administered in a manner
consistent with the spirit and intent of the trust agreement dated September 25, 1975, attached as
exhibit A; and
WHEREAS, the City agrees to meet the requirements relating to designated funds in
accordance with the Foundation's standard policies and procedures; and
WHEREAS, the Foundation agrees to manage the Fund and make distributions from the
Fund to the charities designated by us, to further charitable, religious, educational, or scientific
endeavors favored by us;
NOW, THEREFORE, in accordance with the Foundation's standard policies and
procedures, the parties state as follows:
1. Poc;;c;;ihility of Aclclition~l rontrihntionc;;. The City reserves to itself and to any other
third parties, the right to make, from time to time, additional contributions to the Fund.
2. Dic;;trihlltionc;;. From the amounts contributed to the Fund, the City requests that the
Foundation's Board of Directors distribute an award up to $1,000 from the Fund each year to the
recipient of the Good Citizenship A ward. The award recipient shall be determined by a selection
committee convened by the Foundation from nominations submitted by members of the
community.
3. Anthority to Re-Direct Dic;;trihntionc;;. In the event that the award in Paragraph 2 is
no longer in existence or the purpose of the award becomes inconsistent with the Foundation's
mission, then the Foundation's Board of Directors shall have the authority to re-direct the
designated distribution to the Salina Area United Way organization fund in the Greater Salina
Community Foundation.
4. Tnvec;;tment M~n~eement hy Fonncl~tion. Contributions to the Fund may be
mingled, for administrative and investment purposes, with other property held, managed, and.
invested by the Foundation. In the event of such mingling, the Foundation shall allocate to the
Fund a proportionate part of the investment income earned by the mingled property, together with
any realized or unrealized capital gains or losses, using such allocation formula or method as the
Foundation's Board of Directors may, from time to time, determine to be equitable under the
circumstances. The Foundation will provide fund statements to the City on a quarterly basis.
5. Costs fino Expenses, Any cost or expense to the Foundation in accepting, holding,
managing, investing, or transferring property donated to the Fund shall be paid therefrom.
Furthermore, the Fund (as must all funds of the Foundation) shall share proportionately in the total
administrative cost of the Foundation, and any such administrative cost shall be charged annually
against the Fund, in accordance with the then-current fee structure established by the Foundation
(presently an amount up to, but not to exceed, one percent (1%) of the net fair market value of the
Fund, valued as of the last day of each fiscal year).
6. T ,istines. We agree to be listed in the publications of the Foundation.
City of Salina, Kansas
By:
Attst:
By:
Lieu Ann Nicola, City Clerk
Greater Salina Community Foundation
By: