HomeMy WebLinkAboutOB 1 APPROP OF FDS 11-16-92OLD BUSINESS NO. 1
11-16-92
E N-! D A-
Inter-Com
DATE: NOVEMBER 11, 1992
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: WILLIAM A. HUSTON, CITY MANAGER
SUBJECT: APPROPRIATION OF FUNDS - NON-PROFIT FOUNDATION
RECOMMENDATION:
That the City Council:
1. Appropriate $4,000 from the General Fund reserve for the cost
of preparing the Articles of Incorporation for the non-profit
foundation and related filing fees.
2. Authorize retention of Attorney John Francis to prepare the
Articles of Incorporation.
BACKGROUND:
At its November 2, 1992 meeting, the City Council approved formation of
a general purpose non-profit foundation to raise funds for public
projects. The first step in formation of the foundation is preparation
of the Articles of Incorporation. Mr. Francis specializes in non-profit
corporations. He has assisted several cities (including Irvine and
Brea), school districts and community colleges in forming non-profit
corporations. He presently serves as the attorney for several non-
profit corporations associated kith the California State University
system.
During the course of preparing the Articles of Incorporation, there will
the foundation's purposes and composition,
be policy issues concerning
terms, method of appointment, etc. of the Board of Directors. It is
staff's recommendation that the City Council authorize Mr. Francis to
proceed with the understanding that any policy issues will be referred
to the City Council for its decision before the Articles of
Incorporation are finalized.
WAH
nonprof.wah