SS Sicamous Marine Heritage Fund

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1.Preference to distribute income outlined in #7 to the SS Sicamous Marine Heritage Society (the “Society”) for the purposes of ongoing maintenance and development of the SS Sicamous Marine Heritage Park. 2.The Society must submit a written application each year before funding will be released. In addition, a report on how funds were used in the previous year must be submitted before a new application can be submitted. 3.If the funding application meets the goals of #1 above, the Foundation will release funds to the Society. The Board of the Foundation will have discretion to determine if the Society is using the funds according to the terms of the agreement and the wishes of the Donor. 4.The income may be reinvested annually at the request of the Society, or by decision of the Board of the Foundation. 5.In the event that the SS Sicamous Marine Heritage Society ceases to exist, or the Marine Heritage Park ceases to exist, income shall be distributed to support projects and activities related to Arts & Heritage in Penticton through the Foundation’s annual granting process.