HomeMy WebLinkAbout1989-02-28 - ORDINANCES - SPECIAL FUND CONTRIBUTIONS (2)ORDINANCE NO. 89-7
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF SANTA CLARITA, CALIFORNIA,
ESTABLISHING A SPECIAL FUND FOR MONEYS
CONTRIBUTED BY PRIVATE DONOR FOR A
FOUNDATION, NON-PROFIT CORPORATION, OR
SIMILAR ORGANIZATION TO PROMOTE THE
CULTURAL ARTS.
WHEREAS, the City of Santa Clarita, has considered
the establishment of a foundat4Dn, non-profit corporation,
or similar organization to promote the cultural arts; and
WHEREAS, community support of such a cultural arts
foundation, non-profit corporation, or organization, has
generated unsolicited contributions, which have been placed
in the trust of the City; and
WHEREAS, the City desires to set such contributions
aside in a special fund to be turned over to the cultural
foundation, non-profit corporation, or similar organization
as eventually established by the City Council.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA, CALIFORNIA, DOES ORDAIN AS -FOLLOWS:,
SECTION 1. There is hereby established a special
fund known as the "Cultural Arts Fund of the City of Santa
Clarita." Any moneys entrusted to the City by private donor
for the promotion of cultural arts, shall be deposited into
such a fund. The fund shall be kept in a separate account
from all funds of the City.
SECTION 2. The Cultural Arts Fund of the City of
Santa Clarita shall be turned over to a cultural arts
foundation, non-profit corporation, or similar organization
established by the City Council as soon as can practicably
be done. Provided, however, if such a foundation, non-
profit corporation, or similar organization is not
established within five (5) years of the effective date of
this ordinance, the moneys entrusted to the City shall be
returned to the original donors or legal heirs of such
donors.
SECTION 3. Money deposited in the Cultural Arts
Fund of the City of Santa Clarita, shall be managed pursuant
"� to the City Investment Policy.
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SECTION 4. The City Clerk shall certify to the
adoption of this ordinance and shall cause the same to be
published in the manner prescribed by law.
19 89. PASSED AND APPROVED this 28th day of February ,
ATTEST: MAYOR
TY L
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA )
r
I, George Caravalho , City Clerk of the City of
S t
an a Clarita, do hereby certify that the foregoing
Ordinance No. 89-7 was regularly introduced and placede
upon its first rading at a regular meeting of the City
Council on the 14th day of February , 1989 . That
thereafter, said Ordinance was duly adopted and passed at a
regular meeting of the City Council on the 28th day of
February , 19 89, by the following vote, to wit:
AYES:
NOES:
ABSENT:
TBM/ORD0056
COUNCILMEMBERS:
COUNCILMEMBERS:
COUNCILMEMBERS:
Boyer, Darcy, Koonta, McKeon, Heidt
None
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