Burdette H Speer Et Al Ttee

The exclusive purpose of the troup county recreation endowment fund is to contribute to and support the expenses of troup county, Georgia (a related party) in maintaining proposed recreational additions and improvements. Troup county, Georgia has received a pledge from callaway foundation, inc. for 7,000,000, payable over a three year period subject to troup county, Georgia creating the troup county recreation endowment fund to hold and manage the funds. Five percent of the fund balance will be made available annually to troup county, Georgia to pay for the operating expenditures of new recreational facilities to be built.