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appropriate within the purpose/mission of the ALVHS/Museum on Main as set out in its articles <br /> of incorporation and by-laws. <br /> Section 1.05 Procedures for Accessing Endowment Funds. <br /> Income from the Endowment Fund may be spent by ALVHS/Museum on Main when: <br /> (a).Suggestions are made to the Endowment Committee or Executive Director as part of the <br /> annual budget process; or, <br /> (b).Suggestions outside the annual budget process made by the ALVHS/Museum on Main <br /> Endowment Committee with the approval of the Board of Directors by a majority vote. <br /> Any requests for expenditures from the Endowment Fund shall not exceed 5 percent of the <br /> Endowment value, and shall not reduce the then current value of the Endowment Fund below <br /> $750,000.Any request for funds in excess of this prescribed amount must have the approval of <br /> 90%of the members of the ALVHS/Museum on Main Board of Directors. <br /> Section 2.0 Reports. <br /> The Chairperson of the Endowment Committee shall present a quarterly report of the <br /> Endowment Fund to the ALVHS/Museum on Main Board,which shall include, but shall not be <br /> limited to, a donor update and investment review. In addition,the Endowment Committee, <br /> with the assistance of independent accountants, shall cause to be prepared an annual report to <br /> the ALVHS/Museum on Main Board concerning the operations of the Endowment Fund at the <br /> ALVHS/Museum on Main Board of Director's Annual Meeting in January of each year. Copies of <br /> such reports shall be kept at the ALVHS/Museum on Main's office and made available there for <br /> review by any Board member or interested party during regular office hours. A copy will be sent <br /> to the City Manager of the City of Pleasanton. <br /> Section 3.0 Ratification of Resolution. <br /> These guidelines may be ratified or changed at any time by a majority vote of the Board of <br /> Directors of the ALVHS/Museum on Main and written approval from the City Attorney of the <br /> • <br /> City of Pleasanton. <br /> THIS RESOLUTION was hereby submitted to the Board of Directors of the ALVHS/Museum on <br /> Main and was approved by a unanimous vote this 12th day of November, 2015. <br /> Signed: <br /> Secretary, Board of Directors <br />