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RESOLUTION NO. 2011 -10 <br />A RESOLUTION OF THE CITY COUNCIL <br />OF THE CITY OF NEWPORT BEACH <br />RELATING TO ACCEPTING FUNDS FOR A RONALD <br />REAGAN STATUE OR SIMILAR WORK IN HONOR OF <br />REAGAN'S BIRTH CENTENNIAL <br />WHEREAS, the City of Newport Beach, as a municipal government, is a political <br />subdivision of the State of California. As such, the City qualifies as a charitable <br />organization as defined by §170(c)(1) of the Internal Revenue Code (Tax ID #95- <br />6000751); and <br />WHEREAS, the City of Newport Beach is not a 501(c)(3) non - profit corporation nor a <br />501(d) Religious Organization and therefore, is not required to have a tax exempt letter <br />validating its status. Cities are rather categorically exempted as a political subdivision; and <br />WHEREAS, the City is supportive of honoring the birth centennial of Ronald W. <br />Reagan, the 40th President of the United States and the 33rd Governor of the State of <br />California, on February 6, 2011; and <br />WHEREAS, residents and business owners in the community have expressed an intent <br />or interest to honor the birth centennial of President Reagan by placing a statue or similar <br />work in a local City park following fundraising, design, and construction of the statue or <br />similar work; and <br />WHEREAS, the City views such a statue or similar work as being a public benefit <br />worthy of using the City's Administrative Services Department and the City's tax - exempt <br />status to accept and hold any funds or other private donations that would design and /or <br />construct and place the statue or similar work; now, therefore be it <br />RESOLVED by the City Council of the City of Newport Beach that it hereby authorizes <br />the City's Administrative Services Department to accept, invest, and account for any funds <br />or other private donations for a statue or similar work honoring Ronald Reagan; and be it <br />also <br />RESOLVED by the City Council of the City of Newport Beach that it hereby asserts that <br />the design, construction, and placement of a statue or similar work in a public park in <br />Newport Beach conveys a public benefit to the community by honoring the 40th President <br />and the 33rd Governor of California. <br />ADOPTED this 11th day of January, 2011 <br />..your <br />