CONTRACT 2893 Other CLOSEDtl i
FUNDING AGREEMENT
This Funding Agreement ("Agreement") is made this 19 day of June 2001,
between the City of El Segundo ("City") and the El Segundo Unified School District
("District").
RECITALS
WHEREAS the City is desirous of providing funds to District for purposes of
funding student services as well as maintenance of District facilities that are not being
funded by other sources;
WHEREAS such services benefit the youth of El Segundo by providing such
youth with vital services that will lessen the need for City services such as police and
park and recreation services and will result in better educated youth in the City;
WHEREAS the City believes that the District's educational services play a
critical role in providing the City with future citizens that will dedicate their time and
knowledge to the community and thereby increase the quality of life in the City of El
Segundo;
NOW THEREFORE, the City and District do hereby agree, covenant and
warrant as follows:
Section 1. Fundinu of District Services.
The City shall on or before October 1, 2001 and on or before October 1, for each of the
next four years thereafter, pay the District $250,000. The District shall use such funds.
for prov;d'nr s±= dent services and maintenance of facilities that serve the needs of the
students of the District and are not being funded by other sources. In the event that the
City determines that it is not in the City's best interest to make any of the $250,000
payments, the City can terminate its obligation to make such payments by giving the
District 30 days advance written notice of its intent to cancel its payment obligation
hereunder.
Section 2. Entire Agreement.
This Agreement represents the entire understanding of the City and the District with
respect to the subject matter hereof and all prior written and oral agreements regarding
the subject matter hereof are superseded by this Agreement.
Section 3. Modifications
This Agreement can only be modified in a writing approved by the City Council and the
District Board.
This Agreement is hereby approved as of the date first written above.
DISTRICT:
....
Fr�sid: ..
ent, Du,, trict Board
ATTEST:
CITY:
Mayor Mike Gordon
Board SecrVMo se , Cit Clerk
Approved as to Form:
d°
Mark D. Heni e , City Attorney