03-5917 Agr Citizenship Awardco"o-meiea SA. —
RESOLUTION NUMBER 03-5917
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE THE GOOD
CITIZENSHIP AWARD FUND DESIGNATED MEMORANDUM BETWEEN THE
CITY OF SALINA, KANSAS, AND THE GREATER SALINA COMMUNITY
FOUNDATION.
WHEREAS, the Planters State Bank & Trust Company, Salina, Kansas, (the "Settlor")
entered into a Trust Agreement dated September 29, 1975 (the "Trust Agreement") under which
it delivered to the City of Salina, Kansas, as trustee (the `Trustee") and as beneficiary (the
"Beneficiary) the principal sum of Ten Thousand dollars ($10,000) (the "Fund") and established
an irrevocable trust known as The Planters State Bank & Trust Company Citizenship Trust (the
"Trust") in accordance with K.S.A. 58-2431; and
WHEREAS, the Trust Agreement provides for the annual selection of a recipient of the
Planters State Bank and Trust Company Annual Good Citizenship Award (the "Good Citizenship
Award") by the Awards Committee and the distribution of the accumulated annual income from
the Principal Account to the recipient; and
WHEREAS, the Trust Agreement provides that the Trust shall be irrevocable and that
the Settlor expressly acknowledges that it shall have no right or power, exercisable alone or in
conjunction with any other person or persons to alter, amend, revoke or terminate the trust
created hereunder, or any part of the terms of the Trust Agreement, in whole or in part; and
WHEREAS, the City's ability to establish the Selection Committee and process the
award has been inconsistent in the past; consequently, the award has not been given since 1996
and the Fund Balance currently on hand is $19,548.64; and
WHEREAS, the City of Salina is a charter member of the Greater Salina Community
Foundation (the "Foundation"); and
WHEREAS, the Foundation is ideally suited to manage the Fund, oversee the annual
selection of the recipient of the Good Citizen Award, and distribute an award of up to $1,000
from the Fund each year to the recipient of the Good Citizen Award; SO NOW, THEREFORE,
BE IT RESOLVED by the governing body of the City of Salina, Kansas, that:
Section 1. The governing body finds that the public interest would be best served by
transferring the Fund to the Foundation and delegating the duties of the City as Trustee under the
Trust Agreement to the Foundation, including, without limitation, the management of and
accounting for the Fund, selection of the annual recipient of the Good Citizenship Award, and
distribution of an award of up to $1,000 from the Fund each year to the recipient of the Good
Citizen Award.
Section 2. The Mayor is authorized to execute the Good Citizenship Award Fund
Designated Memorandum between the City of Salina, Kansas, and the Foundation.
Section 3. That this resolution shall be in full force and effect from and after its adoption.
Adopted by the Board of Commissioners and signed by the Mayor this 17th day of March,
2003.
(SEAL)
ATTEST:
kax0a"'IA-)
Lieu Ann Nicola, City Clerk
Alan E. Jilka,ice- kMar