A RESOLUTION THANKING THE FOUNDATION FOR A SUSTAINABLE COMMUNITY AND AUTHORIZING THE ACCEPTANCE OF FUNDS TO PROVIDE SERVICE AWARDS TO TOWN EMPLOYEES FOR DISTINGUISHED SERVICE (2007-02-26/R-1)

WHEREAS, the Foundation for a Sustainable Community, Inc., a not-for-profit charitable corporation established by the Chapel Hill-Carrboro Chamber of Commerce, has raised approximately $100,000 to establish the Cal Horton Service Award Fund, in honor of W. Calvin Horton, Chapel Hill Town Manager from 1990-2006; and

WHEREAS, the Foundation has proposed that the funds be transferred to the Town with the understanding that the interest earned from the investment of the funds be used to provide a source of revenue to recognize distinguish service by employees of the Town;

NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council hereby thanks the Foundation for its offer and accepts the funds for the purposes for which it is being offered;

BE IT FURTHER RESOLVED that the Town Manager is hereby authorized to execute on behalf of the Town a memorandum of understanding substantially the same as that included in the report to the Town Council of February 26, 2007, for the purposes of accepting the contribution from the Foundation and establishing a special Cal Horton Service Award account.

This the 26^th day of February, 2007.