A resolution appropriating $5,000 from the Reserve Council Infrastructure Program, Nonprofit Grants and Council Initiatives Account of the General Fund of the General Services District to Minerva Foundation to provide partial funding for its program services.

WHEREAS, Minerva Foundation provides a variety of sponsored academic programs and activities; and

WHEREAS, T.C.A. § 7-3-314 enables the Metropolitan Government to appropriate funds for the financial aid of a nonprofit organization which is exempt from taxation pursuant to § 501(c)(3) of the Internal Revenue Code of 1954, as amended (sic), provided that such funds appropriated shall be used to promote the general welfare of the residents of Metropolitan Government; and

WHEREAS, Minerva Foundation is a tax exempt organization under the provisions of § 501(c)(3) of the Internal Revenue Code of 1986, as amended; and

WHEREAS, the funds appropriated herein shall be used to conduct workshops on career planning, college admissions, and college financial aid; and

WHEREAS, the funds appropriated herein shall be used to promote the general welfare of the residents of Metropolitan Government; and

WHEREAS, Minerva Foundation has filed with the Metropolitan Clerk (1) a copy of its corporate charter or other articles, constitution, bylaws, or instruments of organization; (2) a copy of a letter from the Internal Revenue Service evidencing the fact that the organization is a nonprofit, tax-exempt organization under the Internal Revenue Code of 1986, as amended; (3) a statement of the nature and extent of the organization’s program that serves the residents of the metropolitan government; (4) the proposed use of the funds to be provided by the metropolitan government; (5) the proposed budget of the organization, indicating all sources of funds and a line-item identification of the proposed expenditure of metropolitan government funds; and (6) a copy of the organization’s audit for the most recent fiscal year, all as required by §5.04.070 of the Metropolitan Code of Laws.

NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1.         There is hereby appropriated five thousand dollars ($5,000) from the Reserve Council Infrastructure Program, Nonprofit Grants and Council Initiatives Account of the General Fund of the General Services District to fund a grant to Minerva Foundation for the purpose of providing a portion of the funding for its program services.

Section 2.         The Metropolitan Government is hereby authorized to enter into a contract with Minerva Foundation for the amount provided herein for the purposes stated. Such contract shall specify the terms and conditions under which the grant funds are to be spent and shall contain a requirement that the grantee shall file with the Director of Finance and with the Metropolitan Clerk a copy of an annual report of its business affairs and transactions and documents relating to the actual expenditures of the funds provided herein.

Section 3.         This Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Walter Hunt

Attachment(s) on file in the Metropolitan Clerk's Office

LEGISLATIVE HISTORY
Referred:
Introduced:	May 1, 2007
Adopted:	May 1, 2007
Approved:	May 4, 2007
By: