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ATTACHMENT 2 PLEASANTON �N, 0 ,,--,,„,:b.? _ c. i i . MUSEUM ON MAIN Amador Livermore Valley Historical Society ENDOWMENT FUND RESOLUTION WHEREAS:The Amador Livermore Valley Historical Society(ALVHS) being desirous of creating an Endowment Fund IT IS HEREBY RESOLVED: Section 1.01. Name. The name of the Endowment Fund is Jean Jones Memorial Endowment Section 1.02. Purpose. The Jean Jones Memorial Endowment is a permanent fund managed by the Endowment Committee of the Board of Directors of the Amador Livermore Valley Historical Society(ALVHS) 1 dba Pleasanton's Museum on Main that generates annual income for ALVHS/Museum on Main to finance, sustain, and initiate designated programs for ALVHS/Museum on Main Section 1.03. Funding. The Endowment Fund is organized and shall be operated to receive money and property to be invested, reinvested and disbursed on behalf of the ALVHS/Museum on Main.The Endowment Fund may accept gifts in the form of cash, stocks, bonds, real estate, LLP and LLC shares and other unusual assets.The ALVHS/Museum on Main reserves the right to refuse to accept any contributions offered to be made to the Endowment Fund. Section 1.04 Distributions. Distributions from the Endowment Fund shall be made as follows: Annual distributions will be made from the Endowment Fund. No distributions may be made until the corpus of the Endowment Fund balance reaches$800,000.Annual distributions from the fund thereafter shall not exceed 5 percent of the average of the balance of the fund for the 4 calendar quarters preceding the first Board meeting in January each year. t Distributions from the Endowment Fund shall be spent only for the following purposes: general operating expenses, educational programs, capital expenses, or projects deemed