Resolution to Accept the Resignation of Juan Carlos Gonzalez

WHEREAS, Juan Carlos Gonzalez has served as a member of the Board of Directors of Bold City Education; and

WHEREAS, Mr. Gonzalez has submitted his resignation from the Board, effective April 16th, 2026; and

WHEREAS, the Board of Directors wishes to formally acknowledge and accept his resignation and express its appreciation for his service and contributions;

NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of Bold City Education hereby accepts the resignation of Juan Carlos Gonzalez, effective April 16th, 2026; and

BE IT FURTHER RESOLVED that the Board extends its sincere gratitude to Mr. Gonzalez for his dedication and service to Bold City Education and wishes him continued success in his future endeavors.

WHEREAS, the Board of Directors of Bold City Education is authorized to appoint individuals to serve as members of the Board; and

WHEREAS, Dr. Eric Moore has been recommended and vetted as a qualified candidate to serve as a member of the Board of Directors; and

WHEREAS, the Board of Directors believes that Dr. Moore’s experience, leadership, and commitment will contribute meaningfully to the governance and success of Bold City Education;

NOW, THEREFORE, BE IT RESOLVED that the Board of Directors of Bold City Education hereby approves the appointment of Dr. Eric Moore as a member of the Board of Directors, effective April 16th, 2026; and

BE IT FURTHER RESOLVED that Dr. Moore shall serve a term in accordance with the bylaws of the organization; and

BE IT FURTHER RESOLVED that the Board of Directors welcomes Dr. Moore and looks forward to his contributions in advancing the mission of Bold City Education.

Dr. Moore will be provided the 4 Hour Board Governance Training Module.

https://charterschoolsupport.com/

NOW, THEREFORE, BE IT RESOLVED THAT:

1. Election of Officers
   The Board of Directors hereby elects the following individuals to serve as officers of the Corporation:
   • Chair: ___________________________________
   • Secretary: _________________________________
   • Treasurer: _________________________________
2. Term of Service
   The above-named officers shall serve in accordance with the Corporation’s Bylaws until their successors are duly elected or until their earlier resignation or removal.
3. Duties and Authority
   Each officer shall perform the duties customary to their position, including those outlined in the Corporation’s Bylaws and applicable law.
4. Effective Date
   This resolution shall take effect immediately upon adoption.

Current Members: 

Mr. Gary Wheeler

Mr. Jerry Jeakle

Mr. Pram (Bobby) Shivdasani

Dr. Eric Moore

BOLD CITY EDUCATION, INC.
BOARD OF DIRECTORS RESOLUTION
APPROVAL OF REAL ESTATE SALE

Date: April ___, 2026

WHEREAS, Bold City Education, Inc. (the “Organization”) is a Florida nonprofit organization authorized to own, manage, and dispose of real property in furtherance of its mission; and

WHEREAS, the Organization, through its affiliated entity Bold City Education (San Jose Growth Fund) (the “Seller”), has entered into a Commercial Contract dated April 8, 2026, with M&C RE Investments LLC (the “Buyer”) for the sale of certain real property located at:

4040 Sunbeam Road, Jacksonville, Florida 32257
(Parcel ID: 32-3S-27E; legal description on file)

and

WHEREAS, the agreed upon purchase price for the Property is $600,000, with closing anticipated on or before July 31, 2026, subject to the terms and conditions outlined in the contract; and

WHEREAS, the Board of Directors has determined that the sale of the Property is in the best interest of the Organization and supports its financial sustainability and strategic priorities;

NOW, THEREFORE, BE IT RESOLVED THAT:

1. Approval of Sale
   The Board of Directors hereby approves the sale of the above-referenced property under the terms and conditions set forth in the Commercial Contract.
2. Authorization to Execute Documents
   The Board hereby authorizes the Chief Executive Officer, President, or their designee to:
   • Execute the Commercial Contract and any amendments thereto;
   • Execute all closing documents, deeds, settlement statements, affidavits, and related instruments;
   • Take any and all actions necessary to complete the transaction.
3. Satisfaction of Seller Obligations
   Authorized officers are directed to:
   • Work in good faith to obtain lender consent and release of any existing mortgage encumbering the Property;
   • Satisfy all contractual obligations required of the Seller prior to closing.
4. Closing Authority
   The authorized officers are empowered to:
   • Approve closing statements and prorations;
   • Resolve title matters and other closing conditions;
   • Execute any necessary extensions or modifications to facilitate closing, if in the best interest of the Organization.
5. Use of Proceeds
   The proceeds from the sale shall be used in a manner consistent with the Organization’s mission and as further directed by the Board of Directors.
6. Contingencies Acknowledged
   The Board acknowledges that the sale is contingent upon:
   • Buyer’s financing and due diligence;
   • Seller obtaining lender consent and release of the existing mortgage;
   • Satisfaction of all conditions outlined in the Commercial Contract.
7. Ratification of Prior Actions
   Any prior actions taken by officers or representatives of the Organization in connection with this transaction are hereby ratified and approved.

Board Motion and Resolution to Approve the Sale of San Jose Cecil

WHEREAS, the Board of Directors has determined that it is in the best interest of the organization to sell the property known as San Jose Cecil; and

WHEREAS, the Board has reviewed the proposed terms of sale, including those outlined in the Letter of Intent and/or proposed purchase agreement;

NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors hereby approves the sale of the San Jose Cecil property under terms substantially consistent with those presented to the Board; and

BE IT FURTHER RESOLVED, that the Chief Executive Officer is authorized and directed to negotiate, finalize, and execute any and all agreements, contracts, and documents necessary to effectuate the sale; and

BE IT FURTHER RESOLVED, that the Chief Executive Officer, in consultation with legal counsel, is authorized to make such non-material changes to the transaction documents as may be necessary or advisable to carry out the intent of this resolution; and

BE IT FURTHER RESOLVED, that all prior actions taken by officers of the organization in furtherance of this transaction are hereby ratified and approved.

WHEREAS, Bold City Education, Inc. (the “Corporation”) has operated Cecil Early College located at 13520 FSCJ Cecil Drive, Jacksonville, Florida, pursuant to prior lease and sublease agreements; and

WHEREAS, the facility and underlying property are subject to a transaction between San Jose Schools Growth Fund, LLC (the “Seller”) and The District Board of Trustees of Florida State College at Jacksonville (the “Buyer”); and

WHEREAS, in connection with the closing of such transaction, the Corporation desires to enter into a Non-Exclusive Post-Closing Occupancy Agreement (the “Agreement”) with the Buyer to allow for continued temporary occupancy of the facility for the purpose of completing the academic program and orderly vacating of the premises; and

WHEREAS, the Agreement provides for a limited, temporary license for occupancy through approximately June 18, 2026, and outlines the Corporation’s responsibilities for operations, maintenance, insurance, and timely surrender of the property; and

WHEREAS, the Board of Directors has reviewed the terms of the Agreement and finds it to be in the best interest of the Corporation to enter into said Agreement to ensure continuity for students and an orderly transition of operations;

NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors of Bold City Education, Inc. hereby approves the Non-Exclusive Post-Closing Occupancy Agreement with The District Board of Trustees of Florida State College at Jacksonville in substantially the form presented; and

BE IT FURTHER RESOLVED, that the Chief Executive Officer, or his designee, is hereby authorized and directed to execute the Agreement and any related documents on behalf of the Corporation, with such non-material changes as may be necessary or advisable, and to take all further actions necessary to carry out the intent of this Resolution; and

BE IT FURTHER RESOLVED, that all prior actions taken by officers or representatives of the Corporation in connection with this matter are hereby ratified, confirmed, and approved in all respects.