FOUNDATION FOR ADA/CANYON TRAIL SYSTEMS, INC. BOARD OF DIRECTORS
RESOLUTION NO. 2023-01
- MAKING FINDINGS OF PURPOSE AND AUTHORITY; AND
- ESTABLISHING THE 52ND STREET BRIDGE FUND AND;
- DIRECTING THE SECRETARY; AND
- ESTABLISHING AN EFFECTIVE DATE.BE IT RESOLVED by the Board of Directors of the Foundation for Ada/Canyon Trail Systems, Inc. (“FACTS”), an Idaho non-profit corporation.Section 1. Findings: The Board of Directors makes the following findings of its authority and intent:
1.1 FACTS First Amended and Restated Articles of Incorporation provides, in Article IV, that this Corporation was and is organized and shall operate exclusively as follows:
(a) For charitable purposes within the meaning of §501(c)(3) of the Internal Revenue Code, as amended, and subject to said charitable purposes: To enhance the quality of life throughout the Treasure Valley and to enhance the safety for recreationalists and commuters and operated exclusively to: 1) provide and/or encourage provisions for non-motorized use trail systems for the benefit of the general public; 2) work with cities, counties, highway districts, state and federal agencies and other public or private agencies and other public or private entities to expand and improve existing trail systems, to acquire sites for needed future trail systems for multiple use; 3) (a) encourage the creation, adoption, and development of regulations by governmental agencies, to ensure that adequate sites will be provided for trail systems; and (b) such other nonprofit purposes which quality under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, as may be designated by the Board of Directors from time to time; and (c) do such other things as are incidental to the purposes of the corporation or necessary or desirable in order to accomplish them; and (d) that all of the above enumerated purposes are limited to certain areas and lands and water as located within the Treasure Valley and surrounding counties, State of Idaho.
- 1.2 The FACTS Board of Directors have advocated (with the planning staff, mayor and City Council of the City of Garden City, Idaho) for the location and construction of a pedestrian bridge to connect the City of Garden City’s greenbelt pathway system along the Boise River to Plantation Island owned by the Idaho Foundation for Parks and Lands, Inc.; and
- 1.3 The FACTS Board of Directors has obtained, from the Idaho Department of Lands, Easement No. ES600130 recorded with the Ada County Recorder’s office as Instrument No. 2020- 151781 on November 6, 2020 for the placement of a pedestrian bridge which will connect the Garden City greenbelt pathway system to Plantation Island at a location adjacent to 52nd Street in Garden City (the “52nd St. Bridge Project”); and
Board of Directors Resolution No 2023-01 Establishing the 52nd St. Bridge Fund Page- 1
- 1.4 The FACTS Board of Directors has pursued, with the City of Garden City, and obtained from JUB Engineers the Project Development plan for the 52nd Street Bridge Project proposal; and has pursued grant funding for this project with COMPASS (Community Planning Association) and other sources; and
- 1.5 The FACTS Board of Directors has provided support and technical assistance to the City of Garden City for its grant requests, filed with and processed by COMPASS for funding of the 52nd Steet Bridge Project proposal at the location of the Easement held by FACTS; and
- 1.6 In order for the City of Garden City to be awarded the necessary grant funds to finance the installation and construction of the 52nd St Bridge Project, it is necessary that the City of Garden City provide a local match of approximately one hundred forty thousand dollars; and
- 1.7 The 52nd Street Bridge Project is necessary in order to connect the City of Garden City’s greenbelt pathway system with Boise’s and Ada County’s, interconnecting pathway systems of the City of Eagle, and with all other and future Boise River greenbelt pathway systems as those systems lie to the west of Plantation Island; and
- 1.8 The FACTS Board of Directors intends herein this Resolution to establish the 52nd St. Bridge Fund to provide assistance to the City of Garden City in the raising of the necessary matching funds required by the grant approvals which will provide the remaining funding for the completion of the 52nd St. Bridge Project; and
- 1.9 The establishment of the 52nd St. Bridge Fund as herein provided is in accordance with the purposes for which FACTS is organized and operating.
NOW THEREFORE BASED UPON THE ABOVE STATED FINDINGS BE IT RESOLVED: Section 2. The Board of Directors does here by establish the 52nd St. Bridge Fund to read as
This fund is established by action of the Board of Directors and shall include all funds donated to this Corporation designated 52ND St. Bridge Fund and/or to the Corporation via PayPal unless otherwise designated.
ARTICLE I FUND NAME
1.1 This Fund shall be known and administered as “FACTS 52nd St. Bridge Fund” hereinafter in this instrument referred to as “Fund.”
FOUNDATION FOR ADA/CANYON TRAIL SYSTEMS, INC. 52ND ST. BRIDGE FUND
Board of Directors Resolution No 2023-01 Establishing the 52nd St. Bridge Fund Page- 2
CURRENTLY EXPENDABLE RESTRICTED FUND
- 2.1 Distributions from this Fund are restricted in accordance with the provisions herein; and
- 2.2 This Fund is a currently expendable fund.ARTICLE III FUND PURPOSESThe Purposes for which this fund was created are as follows:
3.1 To receive and administer donor designated contributions, donations, grants, etc. in various amounts and circumstances to the FACTS 52nd St. Bridge Fund; and
ARTICLE IV DISTRIBUTION RESTRICTIONS
4.1 52nd Street Bridge Construction: All distributions made from this fund must be applied to and paid in accordance with:
• The requirements of a local match of the grant(s) obtained by the City of Garden City, Idaho for the installation and construction of the 52nd Street Pedestrian Bridge project development which will connect the City of Garden City’s greenbelt pathway along the Boise River with Plantation Island (owned by the Idaho Parks and Lands Foundation, Inc.) and the interconnecting greenbelt pathway system located thereon.
4.2 Board Direction Required: Only the City of Garden City, Idaho may make requests for distributions from this fund which may only be made for the installation and construction of the 52nd Street Pedestrian Bridge as provided in section 4.1 herein and at such times and upon the direction and approval of the Board of Directors of this Corporation.
ACCOUNTING AND INVESTMENT GUIDELINES
- 5.1 Fund Account Guidelines: The Treasurer shall account by separate line item the designated source and contribution intent as contributions are received and placed in this Fund.
- 5.2 Fund Investment Guidelines: This Fund’s investment guidelines are as follows:
- 5.2.1 The principle shall be invested in accordance with the policy established by theBoard of Directors of this Corporation.
- 5.2.2 Additional contributions to the principal of the Fund are encouraged and will be accepted at any time.
Board of Directors Resolution No 2023-01 Establishing the 52nd St. Bridge Fund Page- 3
5.2.3 Realized capital gains or losses from investment of the principal shall be considered principal and, accordingly, added to or deducted from the principal of the Fund.
5.3 Fund Income: Income shall be attributed to this Fund in accordance with the following: 5.3.1 The income (i.e., interest and dividends) generated by the investment of the
principal of this Fund shall be credited to this Fund.
ARTICLE VI FUND AMENDMENT
6.1 If circumstances in the future are altered to the extent that the purposes and conditions under which this fund is established and administered no longer pertain, board of directors of this Corporation may use the principle and income from this fund for another purpose which in the judgment of the Board of Directors is in keeping with the original spirit and intent with the consent of the City of Garden City.
Section 3. Directing the Secretary:
3.1 The Secretary is directed to file this Resolution forthwith in the official records of this
Corporation and certify a copy of this Resolution to the Ada County Commissioners.
Section 4. Effective Date
4.1 This resolution shall be in full force and effect from the date of its passage.
PASSED by the Board of Directors of the FACTS, this ____ day of ______________, 2023
Wm. F. Gigray, III, President
Karen Danley, Secretary
W:\Work\F\FACTS\52nd St. Bridge Fund\52nd St. Bridge Fund 2.20.23 .docx
Board of Directors Resolution No 2023-01 Establishing the 52nd St. Bridge Fund Page- 4