1 ENDOWMENT FUND AGREEMENT
Fund Name: OAK CANYON NATURE CENTER ENDOWMENT FUND
Primary Donor(s): DR. LESLIE S. RICHARDS AND DR. DICK RICHARDS Contact: Address: 6506 E. Via Estrada, Anaheim, CA 92807 Email: [email protected] Phone: 714-281-4290
THIS AGREEMENT is made as of ___________ of _____________, 2026 (the "Effective Date"), between the City of Anaheim ("City") and Dr. Leslie S. Richards and Dr. Dick Richards ("Donor").
1.ESTABLISHMENT OF THE FUND
1.1. Establishment: There is hereby established at the City, under the laws of the State of California, an endowed fund to be held in perpetuity and to be known as the Oak Canyon Nature Center Endowment Fund (the "Fund").
1.2. Administration: The City will administer the Fund, including any additional gifts made from time to time by the Donor or others to the Fund, in accordance with the terms of this Agreement and the City's policies and procedures governing endowment funds.
2.FUNDING
2.1. Contributions: The City acknowledges receipt of One Hundred Fifty Thousand Dollars ($150,000) as the initial contribution ("Initial Contribution") to the Fund. It is anticipated by all parties to this Agreement that from time to time other assets acceptable to the City may be donated to the Fund. Such additional contributions shall be appropriately acknowledged by the City. If contributions other than cash are made to the Fund, such contributions must first be approved by the City. All additional contributions shall be administered and distributed in accordance with the terms and conditions of this Agreement.
2.2. Additional Gifts: The City may accept additional contributions from the Donor or other sources, which will be subject to the terms of this Agreement.
3.PURPOSE OF THE FUND
3.1. Purpose: The purpose of the Fund is to make a gift of One Hundred Fifty Thousand Dollars ($150,000) ("Initial Contribution") to Oak Canyon Nature Center and for the City of Anaheim to invest any interest/dividends earned from the Initial Contribution to Oak Canyon Nature Center, including but not limited to the following:
• Interpretive and Educational Improvements
Updating interpretive signage on Oak Canyon Nature Center trails; and other signage installations and updates as needed, including rotating educational features, and improved seating for the second and third amphitheaters;
2 • Habitat and Environmental Enhancements
Reinstallation of wildlife support structures, expanded pollinator habitat in Butterfly Garden area for hummingbirds, butterflies and other life forms, establishment and development of a native wildflower hillside, trail and tree restoration and maintenance, stream flow and bank improvements, and, as needed, grooming of trails and hillsides; • Visitor Experience
Enhancement of OCNC's main entrance, expansion of play area, installation of interactive/sound-based exhibits on Oak Canyon Nature Center trails and establishment of a music garden and scholarships for eligible youth for any of the camps, classes, and other activities requiring admission fees.
3.2. City Procedures: The City will develop and maintain appropriate procedures as necessary to accomplish the Fund's purpose.
4.INVESTMENT
Investment Policy: The City will invest and reinvest the Fund's assets in the same manner as it invests and reinvests all endowment funds held by the City.
5.DISTRIBUTIONS FOR FUND PURPOSES
5.1 Maximum Distribution: The maximum amount available for distribution from the Fund in each fiscal year (the "Maximum Distribution") will be based on the investment returns applicable to the Fund.
5.2 Reinvestment of the Funds: Any portion of the Maximum Distribution not distributed during any fiscal year may, at the discretion of the City, be reinvested or used for the Fund in a subsequent fiscal year.
5.3 Accounting: The City shall keep separate accounts of this Fund, and investment returns (including interest, dividends and capital appreciation) on the Fund's assets shall ensure the benefit of the Fund.
6.CHANGE OF CIRCUMSTANCES
6.1. Variance Power: If at any time the City determines that the income from the Fund is no longer needed for the purpose set forth above, the City and Donor, or their heirs, successors and assigns, shall meet and consult, in order to assign the Fund for other needs of the City, bearing in mind the desires of the Donor as expressed in this Agreement.
6.2 Donor Intent: The Donor acknowledges that their gifts to the Fund are irrevocable.
7.ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications and proposals, whether oral or written.
8.AMENDMENTS
Limited amendments to this fund may be made only through a written instrument signed by authorized 3 representatives of both the Donor and the City. The Director of Community Services shall be authorized to execute such instruments on behalf of the City.
9.AUTHORITY
Each individual executing this Agreement on behalf of a corporation, nonprofit corporation, partnership or other entity or organization, represents and warrants the he or she is duly authorized to execute and deliver this Agreement on behalf of such entity or organization and that this Agreement is binding upon the same in accordance with its terms.
10. EFFECTIVE DATE
This Agreement shall be effective on the date on which this Agreement is executed by City ("Effective Date").
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the dates hereinafter respectively set forth.
DONOR CITY OF ANAHEIM
____________________________ _____________________________ Dr. Leslie S. Richards Sjany Larson-Cash, Director of
Community Services
____________________________
Dr. Dick Richards
APPROVED AS TO FORM:
ROBERT FABELA, CITY ATTORNEY
BY: ________________________________
Bryn M. Morley, Deputy City Attorney 158944
ATTEST:
By:
City Clerk of Anaheim