Res 2010-075 - Laserfiche WebLink

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FUNDING AGREEMENT This agreement (the "Agreement ") is made and entered into to be effective as of May 18, 2010 between the City of San Marcos (the "City "), 630 East Hopkins, San Marcos, Texas, and the Lyndon Baines Johnson Museum of San Marcos, a non - profit corporation, whose mailing address is P.O. Box 3, San Marcos, Texas 78667 (the "Museum "). City and Museum may be referred to collectively, as the "Parties ". RECITALS WHEREAS, Museum is a Texas nonprofit corporation exempted from certain taxes under Section 501(c)(3) of the United States Internal Revenue Code; WHEREAS, Museum is dedicated to promotin& a better understanding and appreciation of the life and times of Lyndon Baines Johnson, the 36 President of the United States including his days in San Marcos while attending what is now Texas State University -San Marcos and his days as a public school teacher in Cotulla, Texas. The Museum focuses on the impact those experiences had on his leadership in the development of legislation in the areas of education and civil rights. WHEREAS, the Museum offers a unique perspective with the public about the man known as the "Education President." WHEREAS, the Museum enhances an already growing tourist industry by providing another tourist site for out -of -town- visitors. WHEREAS, Texas State University has supported the concept of a community museum dedicated to President Johnson because it is the only Texas university to claim a United States President as an alumnus. WHEREAS, the Museum has requested funding in the amount of $89,350 from the City of San Marcos for the design and construction of an artifacts storage room and a curation room on the first floor of the museum building located at 131 N. Guadalupe Street. WHEREAS, the City fords that granting the request is in the best interests of the community because the Museum serves a public purpose and promotes tourism. NOW, THEREFORE, in consideration of the foregoing and the mutual promises and obligations of the Parties in this Agreement, the City and Museum agree as follows: ARTICLE 1 PURPOSE The purpose of this Agreement is to set forth the terms and conditions under which the City will provide funding in an amount not to exceed $89,350 (the "Funds ") to the Museum for