1997 - 07-21-97 Regular Meeting - Laserfiche WebLink

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look 17 2;3 b) by a corporation, contributions to which are deductible under Section 170(c)(2) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue Law). 9. In the event of the dissolution of the corporation, no director or officer shall be entitled to any distribution or division of its remaining property or its proceeds, and the balance of all money and other property received by the corporation from any source, after the payment of all debts and obligations of the corporation, shall be disposed of exclusively for the purposes of the corporation in such manner and to such organization or organizations organized and operated for substantially the same purposes as this corporation, or to the County of Lee, City of Sanford, and Town of Broadway provided that at such time such organizations shall qualify as an exempt organization or organizations under Section 501(c)(6) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue Law), as the Board of Directors shall determine. 10. No part of the income of the corporation shall inure to the benefit of any director or officer of the corporation or any private person (except that reasonable compensation may be paid for services rendered to or for the corporation affecting one or more of its purposes). No substantial part of the activities of the corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and the corporation shall not participate in or otherwise intervene (including the publishing or distribution of statements) in any political campaign on behalf of any candidate for public office. 11. This Restated Charter was adopted by the Board of Directors of the Corporation on the 9th day of July, 1997, in the manner prescribed by law for adopting a charter amendment; and it supersedes the original Articles of Incorporation and all amendments thereto. 12. The Board of Commissioners for the County of Lee gave its approval to such restatement and amendment on the day of 1997, as required by paragraph 9.d. of the original charter. IN WITNESS WHEREOF this statement is executed by the President and Secretary of the corporation, this the day of 1997. LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION By: ATTEST: President OM Secretary