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13201632-9255 1,,,.:—.0111C <br /> F,st utrtet 5[ Initiative <br /> tt Er-(, Mr, b!. FQUNahrt4N, <br /> �t <br /> a wU. <br /> July 11,2014 <br /> v / !fount <br /> Brian Beeman 1 1� 1 ,\I` <br /> AI <br /> City of Elk River Economic Development Authority L } 7 <br /> - f-t... <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> RE: 14-4694 1 <br /> Dear Mr. Beeman: <br /> Greetings! We are pleased to provide the enclosed check in the amount of$500 for the purpose of Upper <br /> Midwest Economic Development Course. <br /> The Initiative Foundation(the Foundation) has approved this grant on the following terms; <br /> 1. Allowable Uses of Funds. The grant recipient shall use the funds only for charitable,scientific, <br /> literary,education or religious purposes within the meaning of Section 170(c)(2)(8)of the Internal <br /> Revenue Code of 1986,as amended(the"Code"). <br /> 2. Restrictions. The grant recipient will not use any of the grant dollars to:a)carry on propaganda,or <br /> otherwise attempt to influence legislation; b) participate in,or intervene in any political campaign <br /> on behalf of(or in opposition to) any candidate or public office;c) undertake activities that support <br /> terrorism;d)provide benefit to the donor or fund advisor in connection with this grant;or e) <br /> undertake any activity for any purpose other than one specified in section 170(c)(2)(B)of the Code. <br /> 3. Applicable Laws. The terms of the grant will be construed in accordance with the laws of the State <br /> of Minnesota. <br /> 4. Grant Acknowledgement. The recipient of this grant shall specifically reference the Initiative <br /> Foundation,a regional foundation,in all media releases and public relations materials where <br /> information regarding or resulting from this grant is presented. <br /> 5. Reporting. Although there are no official reporting requirements,we request that you provide <br /> feedback at the conclusion of your event/project. Information such as number in attendance and <br /> any significant goals accomplished or next steps determined is very helpful. <br /> 6. Modification. The terms of this grant can be modified only in writing signed by an authorized officer <br /> of the grant recipient and by the Foundation. <br /> 7. Violation of Terms. If the grant recipient violates any of the terms of the agreement the <br /> Foundation reserves the right, in its absolute discretion, to terminate the agreement. Upon <br /> termination of this agreement for any reason,the grant recipient will repay to the Foundation any <br /> portion of the grant not previously spent for the grant's purpose,and the Foundation will have no <br /> further obligation to the grant recipient. <br /> 1 ,, , ,., i ',,'- <br />