Res 2006-196 - Laserfiche WebLink

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I I I THE MEADOWS FOUNDATION GRANT CONTRACT MEETING DATE: October 11, 2006 GRANT NUMBER: 2006100180 AMOUNT: Up to $355,670 GRANTEE: City of San Marcos ("Grantee") PURPOSE: Toward acquiring and preserving 251 acres of the San Marcos Springs recharge zone TERMS AND CONDITIONS: Up to $355,670 payable on or before May 10, 2008 as a $1 :$2 match of funds received from other sources between October 11, 2006 and May 1, 2008 NOTE: Please submit documentation of qualifying pledges and/or contributions to the Foundation office by May 1, 2008. Such documentation should include copies of checks or transmittal letters or pledge letters, plus a listing of name of donor/s, amount/s received, and date/s of receipt or anticipated receipt, for gifts in excess of $1000. Gifts under that amount may be reported in aggregate. Goods or services do not ordinarily qualify for matching funds. 1. This grant is for the specific purpose(s) set forth herein, as derived from the attached exhibit budget, and monies received under this agreement and any investment income earned by Grantee with respect to such monies, should be expended for no other purpose(s) without the express, written approval of the Meadows Foundation. 2. Grantee specifically agrees that no part of the funds received from this grant will be used to carry on propaganda, influence legislation, influence the outcome of any specific public election, or carry on, directly or indirectly, any voter registration drive. 3. Grantee understands that under the terms of the charter of the Meadows Foundation, grant monies are awarded for the use of grant recipients within the State of Texas for the benefit of the people of Texas. 4. Grantee agrees immediately to notify the Meadows Foundation, in writing, if (i) Grantee's federal tax status is revoked or altered; (ii) Grantee has reasonable grounds to believe that its tax exempt status may be revoked or altered; or, (iii) Grantee has reason to believe that these grant monies cannot be or continue to be expended for the specified purpose(s). In the event that Grantee loses its tax exempt status before all funds under this grant are dispensed, this grant contract will be considered null and void and all obligations of the Meadows Foundation hereunder will terminate. 5. Grantee certifies that the instant grant will not jeopardize Grantee's status as not a private foundation under Section 509 of the Internal Revenue Code. 6. Grantee will cooperate with the Meadows Foundation in supplying additional information or in complying with any procedures which might be required by any