29D - DONATION - SAC FOUNDATION - Laserfiche WebLink

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CITY OF SANTA ANA DONATION AGREEMENT WITH SANTA ANA COLLEGE FOUNDATION 1. PARTIES AND DATE This Donation Agreement ( "Agreement") is entered into on APRIL 4, 2017 by and between the City of Santa Ana, a municipal corporation ( "City ") and SANTA ANA COLLEGE FOUNDATION, a California 501(c)3 NON - PROFIT ORGANIZATION ( "Recipient "). City and Recipient are sometimes individually referred to as "Party" and collectively as "Parties" in this Agreement. 2. RECITALS 2.1 Community Benefit. The City wishes to provide Recipient with funding to assist Recipient in PROVIDING SCHOLARSHIP FUNDS FOR GRADUATING HIGH SCHOOL SENIORS THAT LIVE WITHIN THE SANTA ANNTA NEIGHBORHOOD ASSOCIATION TO SUPPOPRT THEIR COLLEGE EDUCATION ( "Community Benefit "). The Parties wish to enter into this Agreement to establish the terms and conditions under which the City will provide funding. 2,2 Public Purpose, The City, by recommendation of COUNCH,MEMBER VILLEGAS, believes there is a public purpose in supporting the Community Benefit because it will PROMOTE YOUTH EDUCATION, FINANCIAL STABILITY, LIVABILITY, AND POSITIVE COMMUNITY ENGAGEMENT. The foregoing is a general description of the public purpose, and is not necessarily the only public purpose to be gained from the Community Benefit. 3. TERMS AND CONDITIONS 3.1 Use of Funds. The City has chosen to provide Recipient with a. one -time payment of TWO THOUSAND DOLLARS ($2,000.00) to support college education for graduating high school seniors that live within the Santa Anita Neighborhood Association, because the City has determined that there is a public purpose to be served in supporting the Community Benefit. In executing this Agreement and receiving the farads, Recipient agrees to use the funds only for the purpose described and subject to the terms and conditions provided for in this Agreement, Should Recipient fail to use the funds for such purpose or otherwise comply fully with the terms of this Agreement, City shall have the right to terminate this Agreement and demand the return of the funds pursuant to Section 3.2 below. 3.2 Term; Termination of A reement. This Agreement shall take effect on the date first above written and remain in effect through Recipient's fall expenditure of the funds. The City has the right to terminate this Agreement upon one day's notice, with or without cause. Should the City terminate this Agreement, it shall also have the right to demand the immediate return of all funds provided to Recipient pursuant to this Agreement, as well as interest at the rate of ten percent (10 %) EXHIBIT 2 29D -5