refurbishing of computers for use in South Sudan or other parts of Africa, no
part of the net earnings of which inures to the benefit of any private
shareholder or individual, and no substantial part of the activities of which
is carrying on propaganda, or otherwise attempting, to influence legislation,
and which does not participate in, or intervene in (including the publishing
or distributing of statements), any political campaign on behalf of any
candidate for public office. Any other provisions of this agreement
notwithstanding, the Trustees shall distribute the trust income for each
taxable year at such time and in such manner as not to become subject to the
tax on undistributed income imposed by Section 4942 of the Internal Revenue
Code of 1954, or corresponding provisions of any subsequent federal tax laws.
5. Action of trustees. The Trustee shall act by a vote of a
majority of their number at any given time. Any instrument required to be
executed by this trust shall be valid if executed in the name of this trust
by such a majority of the Trustees. All actions of the Trustees shall be
taken either by resolution at a meeting or by written record without a
meeting. The Trustees shall appoint from among themselves a secretary, who
shall cause a record to be kept of all actions of the Trustees. A copy of
any resolution or action taken by the Trustees, certified by any one of the
Trustees, may be relied upon by any person dealing with this trust. No
person shall be required to see to the application of any money, securities,
or other property paid or delivered to the Trustees, or to inquire into any
action, decision, or authority of the Trustees.
6. Trustees’ powers. In the administration of this trust and of
the trust fund, the Trustees shall have all powers and authority necessary or
available to carry out the purposes of this trust and, without limiting the
generality of the foregoing, shall have the following powers and authority,
all subject, however, to the condition that no power or authority shall be
exercised by the Trustees in any manner or for any purpose whatsoever which
may not be exercised by an organization which is tax exempt or by an
organization donations to which are deductible from taxable income to the
extent allowed by the provisions of the Internal Revenue Code and other
applicable legislation and regulations as they now exist or may hereafter be
amended:
(a) To receive the income, profits, rents, and proceeds of the
trust fund, and to collect and receipt for the same.
(b) To purchase, subscribed for, retain, invest, and reinvest in
securities or other property wherever situated, and whether or not productive
or of a wasting nature, and without any requirement for diversification as to
kind or amount. The words “securities or other property” as used in this
agreement shall be deemed to include real or personal property, corporate
shares, common or preferred, or any other interest in any corporation,
association, investment trust, or investment company, bonds, notes,
debentures, or other evidences of indebtedness or ownership, secured or
unsecured, even though the same may not be legal investments for a trustee
under the laws applicable hereto; but securities and other property shall not
be deemed to include shares or indebtedness of the Donor unless the same is
donated to this trust.