Save Rodman Reservoir, Inc
Legal Defense Fund
Save Rodman Reservoir, Inc. ("SRR") anticipates that legal counsel may be necessary in the ongoing effort to save Rodman. The SRR Executive Committee has therefore authorized the creation of a Legal Defense Fund (the "Fund") that will initially be funded through contributions by SRR's members and other friends of Rodman. Having this amount on hand will provide the Board the ability to respond quickly to developments as they happen.
The Fund will be held in a separate account in SRR's name, and will be invested in money market, short term government securities or bank certificates of deposit. The fund will be managed by a Board of Managers made up of five people including the three elected officers of SSR and two other members of the Executive Committee. The two members of the Executive Committee who are not officers will be elected to the Board of Managers by the Executive Committee. The Board of Managers will have the authority, within the limitations described below, to determine when and to whom to make payments from the Fund. Each check written on the Fund's account will be signed by one of the Elected officers of SRR and by one of the two other members of the Board of Managers. All decisions by the Board of Managers will require the affirmative vote of at least three of its five members.
The Fund, which will include all income earned on the Fund's account, will be used solely for the purpose of paying legal fees and related expenses in the ongoing effort to save Rodman that may be incurred by SRR or, in the discretion of the Board of Managers, that may be incurred by any other non-profit entity with goals similar to those of SRR.
The Fund will be maintained until it is terminated. Termination will occur at the earlier of (1) such time as all principal and accumulated income has been expended for the purposes described above, or (2) the Board of Managers has decided to terminate the Fund. If at the time of termination of the Fund there remains any principal or accumulated income, the amount thereof, but not in excess of the aggregate amount of contributions to the fund, will be distributed among the contributors in proportion to their respective contributions. Thus, if upon termination of the Fund, the aggregate amount of principal and accumulated interest in the Fund equals or exceeds the aggregate amount of all contributions, each contributor will receive from the Fund an amount equal to the contributor's aggregate contributions to the Fund. In this case, the amount in the Fund in excess of the aggregate amount of all contributions will be retained by SRR for use in its operations. If upon termination of the fund, the remaining principal and accumulated income is less than the aggregate amount of all contributions, then each contributor will receive from the Fund a pro rata part of the remaining principal and accumulated income determined on the basis of the contributor's proportionate share of all contributions.
Please Print
Please accept my contribution of ____________to the Save Rodman Reservoir, Inc. Legal Defense Fund.
Name: ______________________________________Address:______________________________________
City: ______________________________________ State: ____________ Zip:____________________
Telephone:___________________________
Signature;_______________________________________ Date:________________________
A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL FREE, I-800-HELP-FLA, WITHIN THE STATE. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE. (This disclosure statement is required by F.S. 496-411.)
SAVE RODMAN RESERVOIR, INC. IS TAX EXEMPT UNDER SECTION 501(c)4 OF THE IRS CODE. WE ARE NOT ALLOWED TO PASS THE EXEMPTION ON TO OUR CONTRIBUTORS. YOUR CONTRIBUTIONS CAN NOT BE DEDUCTED FROM YOUR INCOME TAX. (This disclosure statement is required by the IRS code.)