DOWNTOWN INC. 12B -2015 - Laserfiche WebLink

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7C 9 w �f A- 2015 -144 q/ GATE; 0),2415 SECOND AMENDMENT TO OPERATING AGREEMENT THIS SECOND AMENDMENT TO OPERATING AGREEMENT, made and entered into on Au cc c,, 5 / Ch 2015, by and between the City of Santa Ana, a charter city and municipal corporation duly organized and existing under the Constitution and laws of the State of California, hereinafter referred to as "City," and Downtown Incorporated, Inc., a California non - profit corporation, hereinafter referred to as "DTI." 4 IQ RECITALS 1 s1 A. City and DTI entered into Operating Agreement #A -2013 -150, dated September 17, 0 2013, to (1) confirm that DTI will receive 50% of the assessments collected each calendar year for which an assessment is levied, (2) to provide that DTI's use of the assessment funds will be consistent with the requirements of NS -1715, generally, and the approved calendar year's assessment report specifically, (3) to provide for auditing of DTI BID Funds, and (4) ensure that DTI meetings are compliant with the Ralph M. Brown Act [Government Code Sections 54950, et seq.]. B. City and DTI entered into Amended and Restated Operating Agreement #A -2014- 019, dated January 9, 2014, hereinafter referred to as "said Agreement ". C. In accordance with the terms and conditions of said Agreement, the Parties desire to increase the amount of and add funds to the "revolving fund" and address the reimbursement process. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions of said Agreement, except as herein modified, the parties agree as follows: 1. Section 2.01(f) shall be deleted in its entirety since the applicable timeframe has expired. Section 2.01(g) shall be amended to increase the maximum amount of the "revolving fund" account from $20,000 to $40,000. Consistent with the increase in the maximum amount of this fund, the City shall add an additional $20,000 to the "revolving fund" for a maximum total of $40,000. 3. Section 2.01(m) shall be amended to provide the City with three (3) weeks to process reimbursement requests from DTI, which shall commence upon the City's receipt of notice and all required documentation. 4. Except as hereinabove modified, all terms and conditions of said Agreement shall remain in full force and effect.