HomeMy WebLinkAboutC99-137 Eagle County Student UnionMEMORANDUM OF UNDERSTANDING
BETWEEN EAGLE COUNTY and
THE EAGLE COUNTY STUDENT UNION, INC. and
concerning
ADVANCE OF FUNDS THROUGH A GRANT AND LOAN
TO CARRY OUT SUMMER PROGRAMS
FOR YOUTH IN THE EAGLE RIVER VALLEY
The parties to this agreement are the Board of County Commissioners of Eagle County,
Colorado, a body corporate and politic ("Eagle County"), the Eagle County Student Union, Inc.
(ECSU), a not -for -profit group formed to assist youth in Eagle County.
WHEREAS, Eagle County wishes that programs will be available to high school aged
youth in Eagle County during the summer of 1999; and
WHEREAS, ECSU is ready, willing and able to provide such programs, including but not
limited to evening programs of College Planning, dances, movies and other group recreational
activities in the evening to the youth of Eagle County; and
WHEREAS, ECSU has encountered some cash flow problems related to the timing of
receipt of grant monies which puts its planned summer program activities in jeopardy.
Eagle County agrees to provide funds to ECSU in the amount of $20,000.00. The fund is
divided into two parts: $10,000 in the form of a grant, and $10,000 in the form of a loan which
will be paid back as funds from other sources become available to the ECSU.
ECSU agrees to repay the $10,000 loan to Eagle County when its financial balance allows
it to do so, but in no event later than one year from the date of this agreement. There will be no
interest on the loan.
ECSU agrees that it will use the funds only on programs for youth in Eagle County.
ECSU agrees to report to the Board of County Commissioners in August of 1999, to show the
progress of the programs and to report on the status of the loan repayment.
ECSU agrees that it will appear for meetings with the Board of County Commissioners
when requested, from time to time, to report on the progress of programs and repayment of the
loan.
Notwithstanding anything to the contrary contained in this agreement, Eagle County shall
have no obligations under this agreement, nor shall any payment be made to ECSU in respect of
any period after any December 31 of each calendar year, without an appropriation therefor by the
County in accordance with a budget adopted by the Board of County Commissioners in
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compliance with the provisions of Article 25 of Title 30 of the Colorado Revised Statutes, the
Local Government Budget law (C.R.S. §29-1-101 et seq.), and the TABOR Amendment
(Constitution, Article X, Sec. 20).
Dated this,2Ltday of June, 1999.
EAGLE COUNTY STUDENT UNION, INC.
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BOARD OF COUNTY COMMISSIONERS
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O: ieinals to:
1. Con ct Book
2. f3 11
3.
4.
Copies to:
1. Accounting
2.
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